Many underground miners in third world countries are forced to work in dangerous working conditions with low wages. This is caused by foreign corporations’ thirst for profit, while at the same time ignoring the ethical responsibilities of a business. Indonesian miners of the Grasberg mine owned by Freeport McMoran, are the victims of the company’s failure to be ethically responsible. Thousands of workers began a protest a month ago, demanding better working conditions and wages.  Eventually, the problem seemingly escalated, as it led to the deaths of seven people as they were shot by unidentified gunmen.

We see similar cases about unfortunate miners being killed either by hired gunmen or collapsed mine before on the news such as the Copiapó mining accident. However, nothing is being done to help the workers, as these powerful corporations have a strong presence in third world countries. When jobs are offered to the unemployed in these countries, it appears to be that the corporations are helping them by creating jobs. However, this may be quite deceiving, as corporations have previously used these workers to perform tasks, sometimes dangerous to their health, without adequate compensation, at a profit for the business.

Source: Globe and Mail          Picture

Enbridge Inc., a company which operates Canada’s largest oil pipeline is making a 900
million dollars investment to become the owner of the Cabin Gas Plant in British Columbia. The plant is worth 250 million dollars but the rest will finance the plant’s expansion. This investment is an initial step to execute the company’s strategy to establish a strong position in the Canadian midstream business focused on growing unconventional gas production in B.C. and Alberta.

I believe this is a keen purchase by Enbridge Inc. because of what is happening now regarding the Keystone Pipeline project. The investment allows the company to expand its natural gas business and create jobs in B.C. and Alberta. The debate of oil and alternative energy sources triggered by the Keystone Pipeline project could increase potential demand for natural gas due to the fact that natural gas is a greener energy source compare to oil and coal. Solely based on the negative feedback of the pipeline project, Enbridge should be able to see a strong financial performance with its natural gas business while maintain peace between environmental activists and jobs seekers.

Sources: Globe and Mail                Picture 1                      Picture 2

In my other blog, I have talked about the Keystone XL pipeline project and how this project has caused a great debate among American citizens. This debate has spread itself into Canada and the same two groups are involved in the Canadian debate. One of the groups contains people who are concerned about environment, while the other consists of people who see the opportunity of employment generate by this project. As the debate goes on, it brought in the topic of alternative fuels and fossil fuels. This sudden transition took CEO of TransCanada (the project was proposed by TransCanada), Russ Girling by surprise, as he says “I did not expect this [project] to become a lightning rod of the debate between fossil fuels and alternative fuels”.

The project will not only cause environmental issue but also health issues from the pollution generated from refineries. I believe that this project will increase people dependency on oil and delay the future of alternative fuels. The debate has become an ethical issue where some people only see profit, while others see the negative impacts of oil. The question is how many oil incidents will it take to make people more ethical?

Sources: Globe and Mail              Picture

Recently, the Chinese government has grown concerned about attempts by the U.S. government to pass a currency bill, which would force Beijing to raise the value of its currency. Critics of Chinese export subsidy polices say that undervaluing the Chinese Yuan has given Chinese exporters an unfair advantage. As a result of this, many American jobs were lost because businesses were unable to keep up with the Chinese competition. Fearing that the bill would pass in the U.S. government, the Chinese government responded with threats of a potential trade war with the U.S.

Washington believes that, by passing this bill, the unemployment rate will decrease. However, I believe the result would be different, as America still faces competition with other giant exporting countries like India. With the bill passed, the Chinese economy could be severely affected due to the rapid inflation of its currency and potential trade war is at stake. The Xinhua News Agency has mentioned that, by raising concern towards this issue, U.S. politicians might by drawing the public’s attention away from domestic problems. I believe this is a valid point considering that the U.S. is struggling with its economy.

Sources: Globe and Mail             Picture 

There has been a debate over the issue of whether or not the Keystone XL pipeline should be build on a field in Nebraska. This field has an underground formation known as the Ogallala Aquifer, an underground body of freshwater the size of half of British Columbia . Detractors of the project claim that the pipeline presents a risk to the aquifer, which is essential to Nebraska farmers in such a dry land. Advocates of the construction instead believe it will create many jobs for Americans.

Deciding whether or not to build the pipeline is difficult, as the issue alternates between various pros and cons of the project. In my opinion this pipeline should not be built, as it is too much of a danger to the aquifer. This may damage the nearby agricultural industry, worsening the economy more than helping it. By learning from the BP oil incident, we all can foresee the potential impact of an oil spill in Nebraska. Additionally, with the pipeline built, it is likely that the oil industries in Alberta will have to increase output to meet America’s high demand. This development would have certain health impact on the Albertan residents.

Sources: Globe and Mail           Picture