[All] An economic case for climate emergency

[Lanteigne]

Hi folks
I sent this to Kitchener Council today. Figured the info would come in handy.
Lulu 😃
Sent from Yahoo Mail on Android 
 
   ----- Forwarded Message ----- From: "Lanteigne" <water.lulu at yahoo.ca> To: "scott.davey at kitchener.ca" <scott.davey at kitchener.ca>, "john.gazzola at kitchener.ca" <john.gazzola at kitchener.ca>, "kelly.galloway-sealock at kitchener.ca" <kelly.galloway-sealock at kitchener.ca>, "berry.vrbanovic at kitchener.ca" <berry.vrbanovic at kitchener.ca>, "Deb Chapman" <debbie.chapman at kitchener.ca>, "bil.ioannidis at kitchener.ca" <bil.ioannidis at kitchener.ca>, "christine.michaud at kitchener.ca" <christine.michaud at kitchener.ca>, "margaret.johnston at kitchener.ca" <margaret.johnston at kitchener.ca>, "dave.schnider at kitchener.ca" <dave.schnider at kitchener.ca>, "sarah.marsh at kitchener.ca" <sarah.marsh at kitchener.ca> Cc:  Sent: Mon, Jun 24, 2019 at 9:53 AM Subject: I support motion for climate emergency  Hi everyone
I support the motion for the City of Kitchener calling for a climate emergency. In my view it is fiscally prudent and a good way to mitigate risks for our area.
The former Premier of Alberta flagged the fact Alberta is losing $80 million a day due to air barrels. That is pre-purchased space on pipelines by oil majors that has been used to game the market by artificially lowering the royalty payments. The pipelines we have are running under capacity hurting smaller producers with actual product, who can't get space on the pipe. Devon Energy just left Alberta over that issue. 
https://business.financialpost.com/commodities/alberta-eyes-crackdown-on-air-barrels-as-revenue-losses-hit-80m-a-day/amp?__twitter_impression=true

And we are paying the US $60 million to export our oil as well.
https://business.financialpost.com/commodities/energy/canadas-oilpatch-pays-america-60-million-a-year-to-export-crude-and-usmca-may-not-help/amp?__twitter_impression=true
This isn't fiscally reasonable or sustainable. The value of oil and natural gas hasn't met recovery prices for years.  The industry has been reducing their tax base by 50% by paying their CEOs in shares that they can use to buy shorts and rig the system.  Here is the fiscal info on Al Monaco the CEO of Enbridge and how much he gets to work with.
https://ca.wallmine.com/people/53445/albert-monaco.amp?__twitter_impression=true

Tax evasion is costing Canadians.
In Revenue Canada's official report they identified a tax gap between $9.4 and $11.4 billion for tax year 2014.  
https://www.canada.ca/en/revenue-agency/news/2019/06/minister-of-national-revenue-releases-fifth-report-in-the-tax-gap-series.html

That is our money. Our funds for Federal, Provincial and Municipal needs. We need to work together to put power in the hands of communities so we can avoid these fiscal pitfalls. 
I support the climate crisis motion. Time for us to build a better way forward together. 
Thanks!
Louisette Lanteigne700 Star Flower AveWaterloo OntN2V 2L2






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