Oil companies benefit Canadain many ways

Re: “Feeling the effects of inflation,” by MP Richard Cannings (Herald, Sept. 1).

Once again it is the same old story... those greedy energy companies. Yes they are making record profits, but what happens to those profits? Most of the energy companies are wisely paying down debt something that none of today’s politicians believe in.

Some have increased dividends which benefits everyone throughout Canada as the Canada Pension Plan — and just about every other pension plan — invests in the energy shares. Investors in the shares and mutual funds are rewarded with those dividends, which are either reinvested or spent all to the benefit of Canadian businesses.

It takes roughly up to 10 years to build large infrastructure like pipelines to get just the permits (Bill C-69) . This is very expensive and no guarantee that the company will get the permit.

Then another three-to-five years to build. Other countries give out the needed permits in most cases in about two years.

Surprising Green-minded people like Cannings do not include this in their thinking.

It is worth noting that the energy sector is Canada's biggest tax and job generator, yet Greens want to close the fossil fuel sector which is — and will be — the cheapest form of energy after hydro and nuclear power. Renewables and rechargeable last roughly 20 years and then must be replaced. The other forms of energy can last up 80 years, so are the cheapest form of energy.

The Site-C dam which all Greens want to close will be producing energy until at 2300. Plus some leftover if needed by Alberta and parts of Washington State.

I notice Cannings and the Greens never once mention how we are to get our medicines, plastics, heat our homes and buildings, which mostly by natural gas. The EV need more oil, not less due to their heavy weight from the batteries. That means highways need thicker asphalt. And so on.

The added tax revenue Ottawa will be used to pay our Members of Parliament their gold plated pension, one of the richest in the world after six years of service. For many of the NDP they need this Parliament to last another four years to qualify for their pension, plus a bunch of fringe benefits.

I will believe Mr. Cannings is a true Green when he demands we close all drive-thrus, one of the biggest polluters across Canada.

As a group China, India, Russia and the U.S. now produce around 70% of the world's daily pollution. Note these four are never mentioned, just bad Canada.

It is time for the Greens to react to the real world.

All they want to do is make everything more expensive and solve nothing. Brian Merriam Penticton