Quote:
Originally Posted by Slava
Oh man, can you imagine the heads that would explode if the federal government was going to try to use resource money to build a sovereign wealth fund? Resources are under the purview of the provinces, but floating some idea around that would be both hilarious, and crater the NDP in Alberta forevermore.
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I legitimately think Alberta would go the distance if the feds tried this and vote independence and/or try to join the USA. Nationalizing would be a horrendous message by Canada for a variety of reasons, and it would have far reaching negative economic implications at a time when Canada should be desperately trying to revive its economy and trying to convince everyone to invest in Canada, not tell them we’ll steal your #### and hit the road.
IEA out with their latest outlook. Projecting oil and gas demand growth out to 2050. The lefties and NDP are on the wrong side of reality on this. There are simply too many products and things made with O&G, that rely on it to work, and that these products feed deeply intertwined energy systems. People don’t understand it, and that’s the main issue- energy illiteracy. There are not the substitute products yet out there that people think there should be, and billions of people are getting out of energy poverty which means an all of the above solution not just solar and wind and nuclear/ all forms. I believe the only one seriously at risk that the IEA is forecasting to decline is coal.
As for the pipeline- oil is Canada’s biggest bargaining chip with a hostile trading partner threatening to annex it. To not build the pipe to me means that the feds believe the threat isn’t serious, which is definitely possible. If it is a serious threat, the pipe needs to be built yesterday. It really is that simple. Part of me wonders if the US, which I think largely views Canadas resources as belonging to them anyway, messaged to Canada not to build the pipeline or things would get intense on the annex front. It’s like hey- yeah- you’re not selling that to Asia Canada, nice try (messaged in a behind closed doors kinda way).