Claim: Up to $500 billion in damages from Keystone XL oil

This is junk science/economics because…

  • This calculation is based on the entirely imaginary concept of a social cost of carbon. In reality there is no social cost of carbon (our economy is 100% dependent upon carbon).
  • At a price of $100 barrel, over the next 48 years, the Keystone XL will facilitate the development of $1.45 trillion worth of oil.
  • $1.45 trillion in value > zero costs.

Read the claim in the Vancouver Sun.

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