About a million liters of bitumen emulsion has leaked into a boreal forest near Cold Lake, Alberta. Most of the land immediately affected is owned by the military, which means the government, which ultimately means – you, as taxpayer revenue sustains the defense budget. It started in May, but unfortunately it’s still leaking. No one seems to be quite sure what caused the problem, everyone’s very sorry, and they’re going to do everything they can to clean it up. They estimate that it’ll cost about $40 million dollars. The public, of course, was not properly informed of the magnitude of the ongoing spill, including the nearby Cold Lake First Nation. On the other side of the country, beyond the fact that MM&A’s insurance policy will only cover a small portion of cleanup costs in Lac-Mégantic ($25 million of an estimated $200 million), the company filed for bankruptcy last Wednesday, which basically means that the majority of the financial burden will fall on those devastated by the event, not those responsible for it. The estimated $200 million dollar price tag for clean up includes addressing the tens of thousands of barrels of crude oil that spilled into the Chaudière River. As for the law suits filed against MM&A by the families of the 47 people killed, the fact that the company filed for bankruptcy will probably result in them seeing very little compensation. The thing about corporate responsibility when it comes to incidents such as these is that the bottom line dominates outcomes. MM&A filed for bankruptcy to protect themselves – or, more specifically, to protect individuals like Rail World Inc. chairman Edward Burkhardt. In the case of the ongoing spill in Cold Lake, the incident will be chalked up to yet another unfortunate byproduct of oil production but won’t seriously threaten the financial leviathan that basically controls the Province. In the end, the people have no say. Those that have lost loved ones or must endure living near or on land that has been negatively impacted have no significant power. The system is geared towards protecting those responsible for such incidents, not the victims of malfeasance. What perplexes me, and what will always perplex me, is that when the skies are clear and the birds are singing such entities are defended as quintessential to the economic well being of those that they pay a pittance to compared to what they ultimately generate in net revenue. Ironically, when things go sideways on them, their entire concern is protecting their bottom line, not the economic security of their workforces. No matter what you might believe to the contrary, that always has been, and remains, the underlying reality of the corporate world.
Posted on: Sat, 10 Aug 2013 17:53:30 +0000
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