TC Energy, which I still think of as TranCanada, from back when I built pipelines for them, is spinning off its oil pipelines, which is principally the Keystone system.
I was searching for the best metaphor. “Like hot garbage,” kept coming to mind. I settled on dumping an ex-wife. My column on this: TC Energy dumping Keystone Pipeline like a despised, soon-to-be-ex-wife. The Keystone name is so verboten, it is barely mentioned in the press release or slide deck.
This is entirely because the anti-pipeline, anti-oil movement won on Keystone XL and Energy East. Can’tada and BANANAS USA won, and this is the result. (Build Absolutely Nothing Anywhere Near Anyone, Seriously, U Stup1d A@#$#@#)
Not even printing presses for currency?
16 months to the next US federal election, when the new President makes an announcement on this.
No more DIRTY OIL pipelines crossing sacred Native lands, Right? Keystone is a “spiritual” fight, Right? Preserving the great turtle GAIA !! Looks like the Natives have won another skirmish at Little Big Horn?
TransCanada PipeLines (TCPL), might have been HQ’ed in Cowtown, but it always had an eastern mentality, like CPR. The company has rarely been distinguished by top-drawer management brains, Hal Kvisle being in my opinion an exception. The current executive bigwig is Francois Poirier, who is/was not a resource specialist. He is/was a financier who worked for one of the very worst run US banks, Wells Fargo. He is an expert on financialization.
This move might make business sense, or maybe it’s just a quick and easy way to make a few fiat bucks by filing new incorporation papers and floating more shares. Who can say without the benefit of hindsight. But Sears started out as a bedrock American company, and ended up being a debt-vehicle for vampire “capitalist”/corporate plunderer Eddie Lampert. That’s the logical progression of debt-based fiat financialization.
Sears was one of the saddest stories of piss poor management ever. The original catalog store. Fulfillment infrastructure in place. A network of brick and mortar to provide touch and feel. There was no need for Amazon to ever exist, but Sears management was like what’s a website? All they had to do was put the wishbook on-line.
There was no need for Amazon to ever exist
Reading over your comment and thinking about it, maybe it would have made sense for Bezos to spend some of his DARPA/In-Q-Tel seed money to buy Sears outright and transform it rather than build all his own fulfilment centres and physical infrastructure. But he was given unlimited capital through the equity markets, and could burn through money with spendthrift inefficiency, eventually bankrupting his competition before finally becoming profitable as the last digital man standing.