Pluralistic: End of the line for corporate sovereignty (27 Mar 2024)


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Pluralistic: Thankful for class consciousness (24 Nov 2023)


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Pluralistic: Greenwashing set Canada on fire (16 Sept 2023)


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Pluralistic: Portraits of Queen West (13 Sept 2023)


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Pluralistic: The Tamakis' "Roaming" (11 Sep 2023)


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Pluralistic: Saturday linkdump, part the sixth (09 Sept 2023)


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Pluralistic: Canada's privatised shadow civil service (31 Jan 2023)


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Pluralistic: 2023's public domain is a banger (20 Dec 2022)


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Pluralistic: 16 Oct 2022 RIP, Roger Wood, genius assemblage sculptor


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Oil is Bankrupt (If We Want It)

Alberta’s Oil Companies Are the Walking Dead.

This figure shows how Alberta’s let-the-future-pay-for-cleanup funding model is playing out. The red curve shows the growth of cleanup liabilities, which accumulate as new wells are drilled and not cleaned up. The blue curve shows the assets that will pay for this cleanup — the industry’s future income (assuming various prices of oil and gas).

Albert’s oil-patch is a zombie, the walking dead. The companies that extract oil there owe more money than they can pay, more than they can borrow, more than they can earn. If they were made to pay their lawful debts, they would all go bankrupt, and, in so doing, would end the extraction of one of the dirtiest, worst sources of oil in the world.

Now, there’s an argument that all the oil companies are busted, Alberta or no. If they were made to pay for the damage they’ve done to our world, the millions their deadly products have killed and the billions they threaten, they would all be cleaned out.

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