The first episode in our 10-part series on decarbonization
Our guest, Dennis McConaghy, makes a strong case for Canada to set “adaptation” as a national goal, disbelieving that containing a 1.5-degree increase in the global temperature by 2050 can be achieved. He argues that attaining Net-Zero emissions through decarbonization has unacceptable costs and is not achievable. He argues that balancing imports/exports and setting a punitive…
Economist Steve Ambler says carbon taxes ‘make everything more expensive’
A leading Canadian economist says the case for carbon taxes is limited, with its proponents delivering more rhetoric than reality. In an interview, Steve Ambler, an economics professor at the University of Quebec at Montreal, gave an excellent analysis of one of Canada’s most controversial taxes. He disagrees with a Supreme Court verdict that called…
Keystone XL would have transported 830,000 barrels per day from Western Canada to the U.S.
Canada’s oil sector is scrambling to increase production as the U.S. bans imports from Russia. Had the Keystone XL pipeline not been cancelled, more oil from Canada would likely already be on the way, says a leading oil analyst. “We are expecting some growth from Canada, but for a meaningful difference, it’s tough because you…
The next few months may only bring stagnation but a full-blown recession is more likely
‘Financial repression’ refers to governments or central banks, such as the Bank of Canada or the U.S. Federal Reserve Board, intervening in financial markets to suppress interest rates. Central banks have been intervening for nearly two years, causing a serious disruption in the financial markets. The official rates of the Bank of Canada and the Federal…
Energy investment continues to significantly lag the rest of the world
New oil and gas megaprojects worldwide are getting the green light as global energy demand surges – new ones outside of Canada, that is. Total world spending on oil and gas production and liquefied natural gas (LNG) is expected to rise this year to about US$456 billion, up from US$418 billion in 2021, according to…
Government shouldn't compensate Canadian companies hurt by sanctions, including agri-food
With war comes economic sanctions. Instead of sending troops to fight the old-fashioned way, wars are fought with money, and the invasion of Ukraine by Russia is no exception. The United States, the United Kingdom, Australia, Japan, the European Union, Turkey and a few more have sanctioned Russia in one way or another. Canada has…
The case for the Trans Mountain Pipeline expansion remains strong as the world enters another year of exceptional growth in oil demand, according to industry analysts. Following nearly two years of global demand exceeding supply, oil inventories are now at the lowest level ever in Europe and Asia, according to a report by IHS Markit. The…
Crucial to our national security interests and those of our allies
Six years ago, I asked energy companies and others to fund research on why, in addition to being valuable economic commodities, oil and natural gas might be integral to Canada’s and our allies’ security interests. My theory was that Canadians who usually think only superficially about fossil fuels might be more sympathetic to their development…
Pandemic restrictions dealt the sector a heavy blow
Consumers usually realize fairly quickly just how important the manufacturing sector is when they stare at empty shelves while shopping. In some cases, being confronted with an empty shelf can lead to hysteria and panic, leading to irrational behaviour. Most consumers, pre-pandemic, never really had much cause to be concerned about how the Canadian manufacturing…
Caving on a wealth tax to appease the NDP would be a huge mistake
As the federal budget approaches, taxpayers are holding on to their wallets a little tighter. Even though Prime Minister Justin Trudeau declared less than two years ago that “the last thing Canadians need is to see a rise in taxes,” the government will likely have to win the support of the NDP to get a…
