Oil pipelines, revenue benefit B.C. residents

Published: May 25, 2012 2:00 PM
Updated: May 25, 2012 2:19 PM

To the Editor,

Often we read about the environmental impact of oil spills and included is a point to enforce the argument against the pipelines that there is no economic advantage for B.C. from oil revenues.

If we review the investments of the Canadian Pension Plan, it appears that the plan invests more than 50 per cent in equities, 33 per cent in fixed income and 16 per cent in real assets. This means that every time a CPP or a OAS payment is made to the seniors, some of that cash comes from the sale of oil.

Another point is that Canadians from Newfoundland to Vancouver Island are commuting to Alberta to work and provide for their families. The job might not be in B.C., but the wages are often spent here.

Another point is that if the Keystone pipeline would create 20,000 jobs, would the Gateway Pipeline construction create a similar number?

We know that revenues are required to support our boomer generation and at the same time it is important to protect the environment, therefore, we need to stick to arguments that are specific to the impact of an accident in order to present a credible and reasonable case and to attain the best solution.

Ernie McClare

Yellowpoint

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