initiative, “by prioritizing our emission reduction over energy production,” Canada is making not just Europe but the rest of the world dependent on countries like Russia and OPEC — countries with little to no regard for the environment or human rights. There is nothing “just” about this.Article content
There would also be significant environmental benefits if Canada increases production of natural gas. Natural gas has close to half the CO2 emissions of coal. Canada is the world’s fourth largest producer of natural gas. Today this gas is selling at over $9 USD per million British thermal units, triple its price a year ago. Why? Because the second largest natural gas producer is Russia.
The world changed Feb. 24. Russia’s invasion means the past four decades of global free trade in oil and gas is over. Calculation of geopolitical risks, not supply and demand, will shape who sells, who buys and at what price. Calculation of geopolitical risks, not supply and demand, will shape who sells, who buys and at what price. For the world, this will be less efficient but more expensive. For a small, export-dependent nation like Canada, this is both a risk and an opportunity.
But Canada now has the opportunity both to help ourselves and the rest of the world: a rare triple-header opportunity: a win for our economy; a win for the environment; and a win for our freedom loving allies.It is imperative that Ottawa gets this message before it’s too late. I encourage every major bank in Canada and every major corporation to write the [rime minister now and tell him this. So should every provincial premier and the editorial boards of every major newspaper.
F.L. Morton is professor emeritus and an Executive Fellow at the School of Public Policy at the University of Calgary. He is also a former minister of energy and minister of finance in the government of Alberta.
He refers to UK Tories’ 25% windfall oil profit tax, but doesn’t explain how this destroyed the oil industry there (huge new project just approved!), nor how the windfall bank tax destroyed Bay Street bank investment for all time and made Ontario separatists. Bunkum. cdnpoli
The national post, inflation is too high and it’s Justin Trudeau’s fault. The national post getting rid of profit from oil and gas companies with Stifel investment and that’s Justin Trudeau’s fault
Tax the Rich.
So we should allow the gouging to continue? CdnMediaFailed
Don't complain about inflation and high prices then
We could just recoup all the corporate welfare and call it even?
Where would they go? Lol if you gotta sell stuff here, and make money here, where would they go?
Cry harder
Maybe people like the author should stop merely complaining about how unfair the feds are and declare themselves to be separatists. The longer we stay the more money our grandchildren will owe and the less freedom they will have.
alienating the West is precisely why Trudeau wants the tax
Such foolishness, Kill all corporations, will kill all the pensions . Everyone s pensions from the school teacher to government pension s will fail
So it’s as good as done then, you’re saying!
BS bring back enforcing competition rules. you know stop with oligarchs, stop with collusion, stop unfair competition.
The UK did it,investment will still happen according to BP Pres.Ted Morton is fear mongering to protect record breaking profits. May 3, 2022 — BP said it will invest up to £18 billion ($22.5 billion) in the UK's energy system by the end of 2030.
Yes we must protect the profits of oil giants at all costs or they will just up and leave and never invest again. Right.
Oil companies have already said they have no plans of investing in increased production, and plan on just taking profits till they’ve transferred into their renewable markets, so it’s a pretty moot argument
How much corporate welfare has been given to the oil industry?
the strenght of capitalism is the unlimited aspect, imposing a limit on anything is communism, 1 food ticket per day, max 5% profit on a transaction, maximum 1 house per citizen, citizen cannot have more than 1000$ in cash in their account. Its bs.
I live in the west. Totally fine with being alienated on this issue. Oil companies need to be hit with an excess profits tax. They are taking advantage of this situation and gouging Canadians.
Corporations have had billions handed to them while AB has the highest long term unemployment in the country by a wide margin.
Alberta gave away trillions To Billionaire Corporations and Jobs Instantly left the province. stop the bullshit