What pipe dream vexes North America

Very revealing article in The Tyee here.

“(…) (For the record, the oil industry is not a jobs machine. It is the world’s most capital-intensive industry and earns more than 10 per cent of the world’s GDP. But it only employs less than one tenth of one per cent of the world’s workers. In Canada it accounts for but 1.8 per cent of the workforce.)

No matter. TransCanada’s immodest economic models, for example, piped out job estimates 13 times greater (199,000) than those done by U.S. State Department (5,000 to 8,000) over a three- year period.

A 2011 Cornell University Global Labor Institute report crunched the numbers too and revealed that the project’s construction would inject no more than $4-billion into the U.S. economy and only create between 2,500 and 4,650 jobs. (…)”

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