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https://nationalpost.com/opinion/rex-murphy-that-sound-you-hear-could-be-the-country-fragmenting

I think Rex is asking the wrong questions here. The only real question is "do you want to hit the Paris Accord targets?"

If you say yes, then the things JT is doing and proposing (plus much more) need to be done. Not only that, if you have been paying the slightest bit of attention to the issue, and doing some grade 4 arithmetic along the way, you know it. 

Vote on policy.... anyone surprised by any of this simply wasn't paying attention. There is more to come too, this isn't enough. 

I'll ask again but pose the question differently.... what other sectors of the Canadian economy do you want to see cut in support of accord target goals or do you just want JT to pick them for you?

We are now at a point that failure to answer the first part means you have selected the latter.

 

Edited by Wolfhunter
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Trudeau’s Emission Reduction Plan: Uncertainty, More Taxes, and Nothing to Help a Dangerous World

As Vladimir Putin wreaks havoc in Ukraine, he rests confident knowing that Canada – one of the world’s most energy-rich nations – remains utterly incapable of doing anything to reduce Europe’s dependence on Russian oil and gas. The Europeans are, after all, the bank for Putin’s military aggression. Europe needs Russian oil and gas and they have no other plausible supplier in sight.

In a slightly different world, Canada would have been in a terrific position to supply Europe with an alternative supply of oil and gas. But, because once upon a time, Justin Trudeau discovered that it was “2015” and Harper was out and he was in, the Trudeau Liberals declared war on Canada’s oil and gas industry. 

Canada’s own war on oil and gas – and the Canadian consumer – entered a new phase this week. 

Canada Environment Minister Stephen Guilbeault tabled the Government of Canada’s “Emission Reduction Plan” yesterday (March 29) in the House of Commons (2030 Emissions Reduction Plan – Canada’s Next Steps for Clean Air and a Strong Economy – Canada.ca)

This Emission Reduction Plan,” or “ERP,” is intended to detail how the new Trudeau-Singh government will reduce greenhouse gas emissions to a level that is 40-45% below the 2005 emission levels by the year 2030. And it doesn’t end there: the main goal is to put Canada on a pathway to “net zero” emissions by 2050. This is all part of the Prime Minister’s “Just Transition” plan – a “transition” to no more oil and gas production in Canada.

Given that emissions have dropped a mere 1% over the last 15 years or so, the suggestion that we can now make emissions fall more than 40% in the next 8 years is absolutely absurd.

Absurd? Why? 

The basic math demands that our emissions would suddenly be required to drop by 40x what we have achieved over the last 15 years  in half that amount of time. And by the way, the 1% reduction of the last 15 years was in large measure because coal power production was reduced. In other words, getting that 1% was “easy” because of the coal reduction and had not much to do with oil and gas. 

Net zero by 2050 – impossible, you say?  Yes, I think you would be right to say that the “net zero goal” is impossible.  The words “Irresponsible” and “wreckless” also apply: this week’s Trudeau/ Singh “Emissions Reduction Plan” – to get us to “net zero” – includes absolutely no economic analysis of how this will be achieved.  

In other words, we have no idea how much this will affect the Canadian economy.

What we do know is that the Trudeau/Singh economic team has committed another $9 billion of taxpayer dollars for various bits and pieces (things like more support for electric vehicles) to help deliver on the plan.

These nine billion dollars are in addition to the billions already spent on the many boondoggle schemes designed to chase Trudeau’s green fantasies and to fill the pockets of Liberal Party lobbyists and consultants.

The “Emissions Reduction Plan” – and the “Net Zero” scheme of which is but a part – will fail abysmally.  This is obvious.  But, in the meantime, the announcement this week has left Canada’s energy industry with zero certainty on what they can and should do.

As anyone with even basic high-school level economics or real-world business experience knows, “uncertainty” is a sure-fire way to kill any new investment opportunity.  

What happens when industrial sectors face uncertainty? They don’t invest. 

What happens when they don’t invest? Prices go higher.

So more uncertainty – brought to you by the new Trudeau/Singh government – and yet another trigger for higher energy prices. 

And later this week, most of Canada will see energy prices will go higher still with the April 1st carbon tax increase.  

Oh? You forgot about that? The latest carbon tax increase?

Yeah, if you live in Alberta, Saskatchewan, Manitoba, Ontario or New Brunswick, you will get hit this Friday with a 25% increase in the carbon tax, thanks to Justin Trudeau.  

In BC, John Horgan is raising your carbon tax as well. Why? Just because these fanatics think that your energy bills are still not yet high enough.  

This will mean you will see gasoline prices jump by another 10 cents a litre in most of Canada.

Because of “net zero”. 

Because of a “just transition.” 

Because for Justin Trudeau (and John Horgan), it’s 2022.  

Welcome to the “party”, Jagmeet Singh. I am sure you will fit right in.

And Vladimir Putin thanks you. 
 

https://gaswizard.ca/2022/04/02/trudeaus-emission-reduction-plan-uncertainty-more-taxes-and-nothing-to-help-a-dangerous-world/

Edited by Jaydee
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Gee…imagine if Canada could help out instead of wimp out.

 

U.K. inflation on track to hit 18% on soaring energy prices 

U.K. inflation to reach the highest in almost half a century next year, Citigroup warns

 

The last time inflation was higher than 18.6 per cent was in 1976, after an oil supply shock that devastated the global economy and left the U.K. seeking a bailout from the International Monetary Fund. It last matched that level in 1980, according to Bloomberg figures.

 

Nabarro warned that “the risks remain skewed to the upside” and the Bank of England may have to raise interest rates to six per cent or seven per cent “should signs of more embedded inflation emerge.” He added that rising unemployment was likely to limit the need for such sharp increases.

 

https://financialpost.com/news/economy/uk-inflation-on-track-to-hit-18-due-to-rising-energy-prices-citigroup-warns?utm_medium=Social&utm_source=Facebook&fbclid=IwAR3eWEm2o9WQ9AhHdTpBnlcksRVn14fxkYhbgezr9uFdH1UujywKZsDQHSY#Echobox=1661165203

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An election can’t happen soon enough 🥵🥵🥵
 

“ The Prime Minister was asked by a German reporter whether he was ready to deliver natural gas to Germany. Mr. Trudeau did not directly answer the question. “Canada is a major oil and gas producer in the world but because of our commitment to fight climate change, we are working very, very hard to decarbonize and develop other sources of energy that we can rely and we can share with the world.”

 

 


 

“ Timothy Egan, president and chief executive officer of the Canadian Gas Association, which represents the natural gas delivery industry, said the biggest obstacle to building LNG facilities on the East Coast is regulatory uncertainty. He said investors can’t be sure when or if the federal government will approve necessary pipeline infrastructure to deliver natural gas to an export facility.

“Is there a business case? There’s an incredible business case if the regulatory framework is clear,” Mr. Egan said. “Are the environmental approval processes going to be fast enough and clear enough? How is it that this can happen so quickly in the United States and it can’t happen as quickly in Canada.”

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20 hours ago, Jaydee said:

Gee…imagine if Canada could help out instead of wimp out.

 

U.K. inflation on track to hit 18% on soaring energy prices 

U.K. inflation to reach the highest in almost half a century next year, Citigroup warns

 

The last time inflation was higher than 18.6 per cent was in 1976, after an oil supply shock that devastated the global economy and left the U.K. seeking a bailout from the International Monetary Fund. It last matched that level in 1980, according to Bloomberg figures.

 

Nabarro warned that “the risks remain skewed to the upside” and the Bank of England may have to raise interest rates to six per cent or seven per cent “should signs of more embedded inflation emerge.” He added that rising unemployment was likely to limit the need for such sharp increases.

 

https://financialpost.com/news/economy/uk-inflation-on-track-to-hit-18-due-to-rising-energy-prices-citigroup-warns?utm_medium=Social&utm_source=Facebook&fbclid=IwAR3eWEm2o9WQ9AhHdTpBnlcksRVn14fxkYhbgezr9uFdH1UujywKZsDQHSY#Echobox=1661165203

Or imagine if they had not been so stupid and started drilling for their shale oil a few years ago. What is happening in the UK is a good example when you are foolish enough to follow the ideas of a 16 year old scolding girl. 

It felt good to fly baby blimps when Trump was visiting England instead of listening to him a few years ago when he told Europe to get of of depending on Russian energy and let America start the process of replacement. They called America the new enemy. Remember that? All those lefties with their stupid accusations that so many have foolish enough to believe. And still are.

Of course, it has only been a few years since all this happened, so a complete transition would not have happened, but imagine if shale oil was coming online in the UK and America was still pumping energy the way it was under Trump and canada had continued the energy policies of Harper.

Many, many billions of dollars would be going to pay for health care in western countries instead of to Russian artillery.

But a lot of people need to learn the hard way. And then it seems to only be a temporary lesson.

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5 hours ago, Junior said:

But a lot of people need to learn the hard way. And then it seems to only be a temporary lesson.

Agreed.

My hope here is that the pain becomes sufficient to leave a mark and create an enduring impression on the majority of people. A 3-4 year period of real, memorable, palpable pain should do it IMO. 

I'd offer Canada's health care system as an example of what I mean. Its now clearly on the verge of collapse, we're actually killing people as a result and everybody knows it. We're also increasing access to unfettered MAID at the same time and too many people are applauding as if it wasn't coincidental. All of this is horribly unfortunate but it's also predictable, we all watched it in slow motion. We even hastened it's demise by gleefully applauding the worst possible decisions at the worst possible time.

IMO, it's all about considering easily predictable consequences and trapping the unintended ones on first contact.

A bit like the predictable madness of sole sourcing energy from a hostile trading partner. We may not be smart enough to predict the future (like a war) but any 10 year old could have identified the vulnerability that was deliberately created. After a couple of years spent shivering in the dark, Europeans will come to the same conclusion. Nothing else will do it. 

In a nutshell, this is what advanced Survival Training is about...be it land, sea, arctic, desert or jungle. You're exposing people to real and predictable consequences with an underlying notion that any damn fool can be uncomfortable... or dead.

That's why it's done the way it's done. Simply reading about it in class lacks the intensity required to embrace the reality of being cold, wet and hungry and the motivation to avoid all three. 

 

 

 

Edited by Wolfhunter
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  • 2 weeks later...
1 hour ago, Jaydee said:

If only…Canada had a real leader…..think of the possibilities …:whistling:

 

The problem is that Trudeau and the lonney-lefties are fine with rolling blackouts.  They would literally rather have people freezing in the dark than burn fossil fuels.  Of course it's a lot easier when the people freezing are other people rather than themselves.

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Warning of 'energy-industry Lehman Brothers' moment as gas crisis brings on cash crunch 

European governments scramble to support utilities buckling under the weight of growing margin calls

European governments are patching together emergency measures to support utilities amid fears that companies will buckle under the weight of growing margin calls, worsening an energy crisis that’s sent prices soaring and left the continent short of gas.

Recent days have seen a flurry of news — from Sweden to Switzerland to the UK — as companies and governments try to get to grips with the situation. Norway’s Equinor ASA has said that European energy trading risks collapsing under the weight of margin calls amounting to at least US$1.5 trillion.

Edited by Jaydee
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  • 2 weeks later...

CANADA could have been supplying the WORLD with but oil because of Trudeau and his idiotic policies the market is left wide open.

 

Germany takes control of Russian-owned refinery amid energy crisis

BERLIN, Sept 16 (Reuters) - Germany took control of a major Russian-owned oil refinery on Friday, risking retaliation from Moscow as Berlin strives to shore up energy supplies and meet its European Union commitment to eliminate Russian oil imports by the end of the year.

The economy ministry said it was putting a unit of Russian oil firm Rosneft (ROSN.MM) under the trusteeship of the industry regulator and taking over the business' Schwedt refinery, which supplies 90% of Berlin's fuel.

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I wonder if those in the West Coast are now reconsidering their POV? 🙃

Quote

TOP STORY

 

After a few months of relative relief after the crushing fuel prices of early spring, Canadian gasoline and diesel has once again surged to historic highs.

 

The spike is particularly acute on the West Coast. Right now, the price of a litre of gasoline in Vancouver is higher than it has ever been in the entire history of North America, if not the Western Hemisphere.

 

Metro Vancouver gas prices are standing at an average of $2.39 per litre. This means that filling up an average vehicle in Vancouver now costs $40 more than an equivalent fill-up in Toronto.

 

But this time, gas prices are spiking even as oil prices start to ease. And while a major disaster striking the United States is never good for energy prices, Hurricane Ian is having little to no effect on the current phenomenon.  

 

It turns out this particular price spike can be chalked up to something much more quotidian than usual: Basically, a bunch of U.S. refineries shut down and/or caught fire at the same time. 

“A slew of unexpected refinery disruptions, including fires and routine maintenance, have seemingly all happened in a short span of time, causing wholesale gas prices to spike in areas of the West Coast, Great Lakes and Plains states,” wrote petroleum analyst Patrick De Haan in a recent blog post for GasBuddy.com. 

Specifically, the Phillips 66 refinery in Ferndale, Washington went down for routine maintenance, according to Dan McTeague with Canadians for Affordable Energy. At the same time, a deadly fire at an Ohio refinery constrained the supply of gasoline still further. 

It’s why the B.C. price spike is being mirrored on the West Coast of the United States. Although U.S. gasoline is taxed much lower than in Canada, drivers in the likes of Los Angeles are also experiencing some of the highest pump prices in their history.

 

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Justinflation


“ We’re heading into a much different world. Investors in stocks, bonds and real estate aren’t going to like it “

“ Finally, years of underinvestment in the oil and gas industry, heavy regulation and fear of additional regulation related to environmental, social and environmental issues have shifted not only the oil price dynamics, but also that for all commodities. This implies major shortages in metals down the road at a time when demand will be increasing because of renewable energy and electric vehicle production.

Demographic developments are also fuelling a trend of higher real interest rates. Retired baby boomers are now dipping into their savings for their spending needs, which reduces the supply of funds. This demographic shift is happening in the face of increased demand for capital by corporations that need to embed innovation and new technologies into their production processes, as well as by governments that need to borrow to fund structural deficits. To clear the demand-supply imbalance, the real interest-rate trend is pushed up, not unlike what had happened in the late 1970s.

Globe & Mail

Edited by Jaydee
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