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Canada Sued under NAFTA for Banning Fracking

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At itsoureconomy.us

This practice of corporations suing countries when their labor, consumer or environmental laws affect 'expected' profits will increase if the TransPacific Partnership is signed. Smaller countries will not be able to afford these high penalties and so will likely change their laws to protect corporate profits at a cost to people and the planet. A US company is taking advantage of a corporate-friendly NAFTA provision in suing the Canadian government for over $250 million due to lost profits from Quebec's moratorium on fracking. The company, Lone Pine Resources Inc., which is incorporated in the state of Delaware and headquartered in Calgary, Alberta, held mining permits in the Saint Lawrence Valley and has already spent 'millions of dollars' to get the permits and approvals, according to the company, but the moratorium passed in 2011 by the province to study environmental risk...

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At itsoureconomy.us


 

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