Canadian Prime Minister Justin Trudeau doubles down on carbon taxes, hammering Canadian farms and raising prices for everyone.
Destroying Canada’s Farms, for What?
Competition is high between nations to see who can implement the silliest climate policies. President Biden is far in the lead, but other nations want to catch up.
Please consider Destroying Canada’s Farms, for What?
On April 1, 2018, Canadian Prime Minister Justin Trudeau implemented a national minimum carbon price of $15 (Canadian) per tonne, due to rise to $170 per ton by 2030. Last month, he added a second carbon tax that, according to the Canadian Taxpayers Federation, will “require producers to reduce the carbon content of their fuels or be forced to purchase credits.”
These two carbon taxes will cost the average family more than $2,000 per year, according to the Government of Canada’s own calculation. The same report notes that the taxes will “disproportionately impact lower and middle-income households,” “single mothers,” and “seniors living on fixed incomes.”
“Canada’s own emissions are not large enough to materially impact climate change,” admits Trudeau’s own Parliamentary Budget Office, due to increased emissions from the developing world.
“My competitors to the south of me in the United States do not pay that [carbon] tax, so now my cost goes up and I have no alternative,” says Jeff Barlow, a corn, wheat, and soybean farmer in Ontario. “By penalizing me, there’s nothing else that I can do but just be penalized.”
“If you push farmers against the wall with no wiggle room, I don’t know where this will end up,” warns Gunter Jochum, president of the Western Canadian Wheat Growers Association. “Just look at what’s happening in Europe, in the Netherlands. They’ve had enough of it.”
The Green Solution?!
To eliminate the benefit of US farmers over Canadian farmers, Jonathan Pedneault, deputy leader of the Green Party of Canada, has a solution. He wants to raise tariffs so the US would not have a competitive advantage.
Pedneault proposes “introducing tariffs for countries that apply no carbon tax or one that is lesser than Canada’s.”
Mercy!
Magic Money
To mitigate the hardships, Canada proposes Climate Action Incentive Payments. Through the magic of those payments (tax hikes or bigger deficits), Trudeau says the average family comes out ahead.
However, the overall economic impacts are hugely negative as the next chart shows.
Canada’s 2030 Emissions Reduction Plan Fiscal and Economic Impact
Fiscal and Economic Impact
Our estimate of the economic impact captures the loss in employment and investment income that would result from the federal fuel charge.
Differential impacts on the returns to capital and wages, combined with differences in the distribution of employment and investment income drive the variation in household net costs across provinces. When the economic impact is combined with the fiscal impact, the net cost increases for all households, reflecting the overall negative economic impact of the federal fuel charge
The above charts from a Distributional Analysis of the Federal Fuel Charge under the 2030 Emissions Reduction Plan.
Even “free” money does not mitigate the losses.
Let’s sum it up this way. You gain $699 in Saskatchewan. Unfortunately, you lose your job.
And for what? If Canada stopped all carbon emissions tomorrow it would not even register, except for the Canadian economy which would crash.
EU Imposes the World’s Largest Carbon Tax Scheme, Inflationary Madness Sets In
On December 19, 2022 I noted EU Imposes the World’s Largest Carbon Tax Scheme, Inflationary Madness Sets In
To prevent “carbon leakage” the European Parliament Reached a Deal on a Carbon Border Adjustment Mechanism, CBAM for short.
And now Canada proposes it will match or exceed the carbon taxes of anyone.
A New Green Deal Trade War Accelerates Between the US and EU
As a result of Biden’s Inflation Reduction Act, A New Green Deal Trade War Accelerates Between the US and EU
It’s safe to add Canada to the mix.
The Shocking Truth About Biden’s Proposed Energy Fuel Standards
In case you missed it, please consider The Shocking Truth About Biden’s Proposed Energy Fuel Standards
The National Highway Traffic Safety Administration NHTSA did an impact assessment of 4 fuel standard proposals and compared them to the cost of doing nothing. Guess what.
The NHTSA conclude: “Net benefits [of stricter mile standards] for passenger cars remain negative across alternatives” vs doing nothing at all.
See the above link for details and charts.
“Destroying Canada’s Farms, for What?”
Sustainable farming. Destroying 3,000 farms in the Netherlands is for sustainable farming. The question is, how many of the 8 billion people on the planet will become starvation victims of sustainable farming?
What is this all about?
https://www.bloomberg.com/news/articles/2023-08-28/business-leaders-want-g20-to-adopt-india-s-philanthropy-rule#xj4y7vzkg
Quebec, North Americas cheapest power source thanks to its hydro based landscape now facing a shortage or electricity due to clean power. Interesting to see how this plays out in the future?
https://financialpost.com/commodities/energy/renewables/quebec-faces-power-shortfall-hydro-electricity-exports
“The region that produces North America’s cheapest power faces a threat that seemed impossible just a few years ago — running short of electricity.
It’s a dilemma mostly of Quebec’s doing, after landing export deals such as the Champlain Hudson Power Express, Blackstone Inc.’s $6-billion transmission line to feed New York City, and luring manufacturers to the province with low-priced power. Hydro-Quebec, the government-owned utility, estimates it needs more than 100 terawatt-hours of additional electricity — more than half its annual generating capacity — to reach the province’s goal of being carbon neutral by 2050. A terawatt-hour can power about 60,000 homes a year.
“We are the victims of our success,” said Philippe Dunsky, president of Dunsky Energy + Climate Advisors. “I don’t think that anyone knew just how quickly demand for clean power was going to pivot.”
Lol! Demand for clean power. Who would have thought.
Well, Quebec can quickly build some nat gas power plants to supplement their hydro. After all, they probably have lots of pipelines that can get gas from western Canada, right?
Maybe they can build even more pipelines to Quebec before the LNG facilities open in BC and start exporting Canadian gas to Japan.
Got TOU?
https://nationalpost.com/news/canada/net-zero-may-be-the-most-ill-conceived-national-project-canada-has-ever-pursued?utm_term=Autofeed&utm_medium=Social&utm_source=Twitter#Echobox=1692620054
Canadas electricity grid is already considered 85%net zero.
It appears pushback from Alberta and Saskatchewan saying they will not meet 2035 targets and are pushing 2050. Here in Saskatchewan for example, nuclear looks to be the direction the government is going to. And of course the reality is you are realistically looking at 15ish years should you decide to build a nuclear reactor.
Quebec is already stating that selling all their excess electricity to the US was a mistake.
Going forward with an already supposedly 85% net zero electricity grid would require 2 new of whatever electricity generating station beside what already exists.
I suspect policy changes going forward as the reality of what is actually involved going to net zero.
You are correct. Policy always changes when reality sets in. It doesn’t matter very much what gets announced, because its mostly politicians appearing to “do something”.
That is why nuclear plants all over the world that were supposed to be closed by now are still open. And why the world burned even more coal this year, because we had to in order to keep the lights on.
How were the wildfires in Saskatchewan? Anything close to you? It seems like most of the damage is in BC and NWT.
“How were the wildfires in Saskatchewan? Anything close to you? It seems like most of the damage is in BC and NWT.”
We did get some occasional smoke from BC and NWT. But as to the point about forest fires, they are actually down worldwide.
But they are up in Canada. Right? A record fire season in fact. You Canadians must not be out raking your forests. I hear that reduces the number of fires.
This seems like some version of a refundable tax. Those who use less carbon than average should come out ahead.
Incredibly deflationary, as all massive tax increases are.
The Silent Depression of the past 16 years is going to turn into a very loud Depression as both supply and demand collapse under government burdens.
Trudeau gonna find out that the plummet in tax receipts his economic destruction is going to engender are not going to be offset by whatever these Carbon taxes bring in.
Its a catastrophe! We’re all going to lose our jobs, homes and wealth!
Quick. Tell me how you are going to profit from your wisdom. I want to get in on it.
After all, I explained why WCP would be a good investment. You should reciprocate.
https://www.dividendgrowthinvestor.com/2021/01/the-best-investors-in-world-are-dead.html
“Trudeau gonna find out that the plummet in tax receipts his economic destruction is going to engender are not going to be offset by whatever these Carbon taxes bring in.”
Ive asked this question. The federal and provincial governments receive billions from oil & gas revenues. How is this going to be made up.
I see that a few states are proposing charging ev’s per mile. That is one possibility going forward.
One of the reasons I am heavily invested in Canadian oil and gas companies is because I am NOT expecting governments in Canada to kill their golden goose. They might talk the talk, but they won’t actually do so much as to stop that flow of tax money.
PSA:
For anyone considering taking investment advice from some online spambot likely not actually licensed to give the public investment advice, please consider the risks to its recommendations.
For eg:
If you are not Canadian, you will be taking on forex risk. This variable can eliminate any gains or magnify any losses in your position. As the company is a commodity producer, the share price will be subject to price changes in the underlying commodity. In a politically-charged energy landscape, there will also be some political risks, so be prepared to stay up-to-date on Canadian politics. Also, there is no legal obligation of the issuer to pay the same amount of dividends, or to pay them at all. Keep in mind, risk-free assets are trading at close to 6%/a return at the moment, with your principal guaranteed. This is a useful benchmark.
If you are an older person, you may also want to evaluate the risk of investing in equity securities in the first place. And even if you are young, but are not inherently a strong risk-taker, this is unlikely to be an appropriate investment for you also.
Please contact your local investment advisor and have a risk assessment done, as well as some actual research into the security mentioned, so that you can make a fully-informed decision on how to deploy your hard-earned money.
Everyone’s circumstances are different. There is no one-size fits all investment. Do your due diligence, including on yourself.
/PSA
Correct. And well stated. I am not an investment advisor. I simply talk my book, telling people what I am invested in. There are no guarantees and I make no promises. Investing is a risky business.
On the other hand, I am sincere when I mention the stocks I own. And I have been mentioning many of them over and over for several years now. So it isn’t a “pump and dump” type of thing. And I have also stated that while I am heavily invested in oil and gas stocks, they are not my only investments. I am diversified to my comfort level.
Yeah, it’s hard to not just hoover up VMFXX right now. I usually am lazy and just reinvest dividends in whatever fund they’re already in and rebalance every few years when I bother to look, but I swapped most of them to just buying MM funds until the Fed decides to start cutting rates. Which could be years.
Yep. That guy is crazy. Imagine wanting to help immigrants, who go to Canada, fill all those job openings, and start paying those exorbitant taxes so Canada can keep providing free doctors and hospitals to everyone there. Crazy.
Biden (or whoever is in charge) isn’t the biggest climate freak, the Canadian Turd plays in a league of his own.
Importing 1 million immigrants per year from third world with zero carbon footprint, while tightening the screws on the locals.
I have recently been to Vancouver, and they are importing all the smartest, richest, most capable people they can find. They are winning the demographic battle because they get it.
We don’t, at least so far.
“Importing 1 million immigrants per year from third world with zero carbon footprint, while tightening the screws on the locals.”
Canada actually imports 3-5 hundred thousand immigrants/year and not quite 3rd world.
https://www.bbc.com/news/world-us-canada-63643912
“The Canadian approach
Another way that Canada is unique in the western world is its emphasis on economic immigration – about half of Canada’s permanent residents are welcomed because of their skills, not under family reunification.
By 2025, the government hopes to make that 60%.
This is partly because of how the Canadian system was designed, said Mr Cameron. In the 1960s, Canada shifted from a system of quotas, where different countries were assigned different targets, to a points-based system that gave preference to highly-skilled immigrants who would more easily contribute to Canada’s economy.”
But to the point, people =pollution.
My own opinion is that the immigration levels are set too high and should be halved.
Maybe if you become prime minister you can change that. Till then, your country is just going to keep importing those highly skilled immigrants.
Sounds like you should invest heavily in real estate. Those immigrants have to live somewhere and if they are highly skilled they will probably make scads of money and force house prices even higher.
Though I think that most immigrants are drawn to your largest cities. Do you get a lot of immigrants in SK?
“Sounds like you should invest heavily in real estate. Those immigrants have to live somewhere and if they are highly skilled they will probably make scads of money and force house prices even higher.
Though I think that most immigrants are drawn to your largest cities. Do you get a lot of immigrants in SK?”
Canada already has the most overpriced real estate market in the world. Not a good investment from my viewpoint. I suspect a lot of hurt coming when people go to renew their mortgages. Unlike the US, we do not have 30 year mortgages. And to a large extent housing is held up by immigration practices.
Immigration to Sk has been picking up in recent years due to most people being unable to afford living in the larger centres. There is definitely a noticeable trend here talking to people who have picked up and left larger centres like Toronto and moving to Sask.
Interesting. And informative. Thanks.
The 1900 Galveston hurricane was predicted by the NWS to hit New England when
it slamed into Galveston . 1944 US fleet lost over 700 men and 4ships others heavily damaged when they ran into a typhoon no one new was out there . Anyone that tells you there are any acurate records of Global temps , Intensity and frequency of hurricanes , Ice extents and so on before satelites where able to see these things and measure them should not be taken seriously . Just like the official narrative on the greek wild fires being a result of climate change and they just arrested 79 people for arson for starting them but the officail narrative will not change
Good point. Scientists who look into the past using dendro, ice cores, ocean sediments and rocks are all crazy.
Good thing we have satellites now to tell us how bad things are getting.
Great point the experts of hundred years ago only missed a lanfalling hurricane by 2 thousand miles I am sure your ice core boys are right on the money with all their findings and by the way the polar bear population has gone up not down but go read some more Al Gore predictions hahah . Clowns will be clowns .
Yes. They are all clowns. Good thing you know what’s actually happening.
Now. Tell me how I can make a crap load of money using all your extensive knowledge. Because what good is knowing all this stuff if you don’t take advantage of it.
No they aren’t you are
What? No plan for how to make money from your extensive knowledge? C’mon. Throw a guy a bone.
I mentioned WCP earlier. Its a great investment. You should reciprocate with some investment advice too. Show me how smart you really are.
Shorting Tesla is always a good play!
Checking out WCP . What do you think about MP . Rare earth mine and refining in the USA . A second source for these materials outside China . Possible profits in light of foolish tariff policies implemented by the politicians, access to grants and subsidies in the IRA, and an essential ingredient for permanent magnet motors used in EV and wind mills favored in carbon reduction schemes.
Hi Alex. I don’t know anything about MP. Sorry.
However, I am still not invested in metals companies at this time. If I thought it was the right time for metals, I would focus on the tried and true, in particular the largest copper companies. Because we are going to need a lot of copper for this energy transition. But I still think its a bit early to take the plunge as overall global growth is still a bit weak.
Tried and true – in that line I invested in SCCO several years ago. I am not so good with the timing of investments generally but if there is a decent dividend I can hold for the dividends. So many exciting new ideas out there being developed – but the payoff is always some time away.
But it has always been bad. The climate is either too cold or too hot.
Very true.
Many here are complaining about the weather.
But no one is doing anything about it.
Canadian oil co might lift TSX up, test the top, in a dead cat bounce, and turn down,
for a long time…
Well then. You better short those stocks if you know they are going down. Is that your investment plan? What could possibly go wrong?
His plan is to complain, give credence only to bad news, keep his money in the sock drawer, and stay poor.
I’m going for a mountain bike ride. After a couple decades of just investing when I had the money and not worrying about stuff I can’t control, I’m rich so I can do whatever I want.
I’m into health and fitness in a big way as well. Addicted to exercise. My hobby is making scads of money when I have some time to spare.
Health, family, friends, money. Pretty much always in that order.
Nice to meet you Walt.
Our US VP let out the real goal: fewer people.
If they wanted fewer people they should have let covid kill more of them and not bothered with the vaccine.
Oh well. I guess they could just limit health care to even fewer Americans. How about, lets get rid of Medicare? That would help get rid of some.
death vax killed at least 13 million globally according to analysis done by Dennis Rancourt. That was as of February of 2023. Because excess deaths continue in countries where a large portion of the population took the jab, that 13 million is certainly higher now. There was no need for a rushed “vaccine”. There were treatments that worked, but Pharma needed that 100 billion or so that they made from their shots. Population reduction was a side effect. The whole thing was really about control and transfer of wealth, about scaring the people so they would submit to totalitarian controls.
Well then their secret plan to kill people and enrich big pharma worked! Mwah, hah, hah hah. Did you benefit by buying pharma stocks since you were IN on the entire scam? I hope you made millions.
Next they are going to put stuff in the water. They won’t be happy till everyone is dead!
Good thing that you are on to them.
The vaccine stocks have done very poorly.
right. that’s why Bill Gates bragged about making back 20 times on his investment in Moderna, because they did so poorly :-\
Bill made that much did he? How much did you make pima? Since you are IN on the conspiracy. I hope it was millions.
Oh.Thanks shamrockva. I guess big pharma didn’t get enriched then. Pima’s conspiracy theory must be wrong. Who’d have thunk?
I guess theoretically you could have made money. By the time the vaccines got approval in late 2020 MRNA stock was north of $150 and NVAX was around $130. If you timed a sale just right you could have doubled or triple your money but they are currently around $110 and $8. Pfizer is down quite a bit too but that was not a pure vaccine play.
That’s a pretty crap outcome. I can make you up a shot that’ll kill people way quicker than that…
I have to laugh at this stuff. All a big conspiracy to control you? A vaccine to kill you? Give me a break. You live in the freest country on earth at arguably the freest time in history. Short of harming other people you can do almost anything you want. That’s almost never been true anywhere on earth since we dumb apes stood up on our hind legs. Appreciate what you have and go take a walk in the woods instead of binging on conspiracy garbage all day.
oh my goodness. Another voice of reason. I was getting lonely and refilling my wine glass too many times.
Thanks Walt.
Only 5 downvotes? Come on, people!
For anyone that’s interested in doing their own research about the vax that is NOT coming from the msm I suggest you check out naturalnews.com. They’ve had A LOT of articles from Dr.’s, scientist, etc. that have come out with info on the same vaccines we used in the US.
The CDC’s death safety signal triggered within a month of the release to the public. The CDC withheld this information from the public for two years. Not a conspiracy theory. A fact. The FDA is withholding autopsy data it has on vaxxed people who died. Not a conspiracy theory. A fact. What are they hiding?
A conspiracy simply involves two or more people. Two or more people at these agencies knew of the information they were withholding from the public. It isn’t conspiracy garbage. The public has the right to know the truth, especially when government propaganda is endangering their life.
Really want to do your own research? Go talk to your freaking doctor. Like, in person.
Oh, wait, they’re all in on it too…
Population decline.is. already.happening.in most.of the world. Couples are not having over 2.1 kids (on average ).anymore. Less.than two kids.does nothing.for.population growth. Check out the OECD website,’ population data.page.
Negative population growth is our.destiny
Not to worry.
Africa is doing its best to make up any population deficit.
India is slowing down just a little.
I suspect we will see more of this throughout the world; not just Canada or the US.
Canada’s carbon tax is currently $65/ton of CO2. It will rise $15 each April until it reaches the $170 target in 2030.
Unless the next government changes it. Which is likely.
It is interesting that Canada is also suffering from hundreds of wildfires this year. The further north you go, the more wildfires. So much for escaping the impact of global warming by heading north. Perhaps that is because the further north you go, the greater the warming.
And Americans have been enjoying all that lovely smoke that the jet stream has been bringing our way.
From an investment point of view, one should look at which companies will be penalized for carbon emissions and which will benefit from carbon credits.
Here is one suggestion. Whitecap Energy. WCP is a small cap Canadian oil and gas firm which has a carbon capture and sequestration program in effect that makes it a net beneficiary of Canada’s carbon credit system. It is poised to benefit as government ups the ante because it is a carbon negative company.
It currently pays a monthly dividend with a 5.4% annual yield. It has raised its dividend 4 times in the last 30 months as it hit its debt paydown targets with its great cash flow. It will raise its dividend to over 7% in the next few months as it reaches its next debt target of $1.3 billion.
It has a market cap of $6.5 billion, strong free cash flow, and long reserve life. Its one of my favorite Canadian small caps along with BTE, CPG, HWX, ATH, SGY. For larger caps, I like CNQ, CVE, SU and MEG.
Just for you PappaDave don’t believe Gore and Kerry they emit 100s of times more c02 emissions than the average person and have no plans to change their lifestyle .
There have been wildfires in these areas long before men were here .Men do start wildfires that wouldn;t start on their own though . Many of the alarmist prediction have proven to not happen you can look it up . Many credentialed people have called it B### shit on warming caused by man that know a lot more than you do and have worked in the field for decades . You do think a lot of yourself and would be willing to silence anyone who doesn’t agree with you view of anything . Sad very sad
https://pbs.twimg.com/media/F4Iz4yIbUAAQd7F?format=jpg&name=900×900
https://pbs.twimg.com/media/F35uKJdWcAAtHew?format=png&name=small
since covid, I am certain that the following is true:
If governments around the world are pushing a narrative that will
1) Give them more control over the people and/or
2) Give them an excuse to raise taxes and steal land from the people,
they are LYING!
If there was an IGNORE button I would use it on conspiracy kooks like you. You are a waste of my time. Why don’t you go do something else, like experiments to prove that the world is flat. Or search for bigfoot. Or go find all those missing Trump votes. I hear they are hidden in the Grand Canyon.
What astounds me is that people like you continue to believe MSM and the government. Tell me, if you had a friend who lied to you as many times as the MSM and gov’t has lied to you, would you still believe them? Would you even be friends with them anymore? Gulf of Tonkin, murder of JFK, murder of RFK, murder of MLK, Operation Northwoods, Operation Paperclip, Operation Fast and Furious, Tuskegee Experiments, NSA Spying, Flint Water Crisis, Iran Contra, Chicago Black Sites, 911, WMD’s in Iraq, Syrian gas attacks, 4 years of Russiagate lies, 3 years of covid lies, and now 1 1/2 years of Ukraine lies, but you still believe them! Well, what should I expect? Logic and critical thinking are no longer taught in public schools. Sigh…
People like me? Ouch. That hurts.
What’s wrong? You don’t like my kind? Healthy, wealthy, happy, informed.
I will take that instead of being a miserable, grumpy, conspiracy kook.
But you do you. And I will do me.
okay, but you didn’t answer my question: After lying to us dozens of times (likely hundreds if you add in the lies by omission), why do you still believe MSM and the government ?
If you want to be successful in life it helps to have a good grasp on reality.
Do politicians and governments lie? Of course they do. In order to get elected they will say anything to get your vote. They will tell you that they are going to lower your taxes, and spend more money on things you want. And then you vote for them even though you know its a lie. Personally, I don’t bother to vote. I consider it a waste of my time.
However, you are a moron if you think that “everything”’is a conspiracy to control you. I have no time to deal with conspiracy kooks.
What I pay attention to is what the people who make all the decisions are actually doing. Whether that is government leaders or corporate leaders. That’s how you can become wealthy. Pay attention to those making the decisions. I don’t really care what those decisions are, because I cannot change them or influence them. All I can do is take advantage of them.
I do not closely follow the MSM, as you seem to think. Not because they are in a conspiracy to give fake news, as you believe, but because there are much better sources out there.
I would pay attention to you if you were one of the influential people who could help me make even more money from your decisions. Or if you could provide me with some solid investment advice.
But all you want to do is complain about nonsensical conspiracies. What a f*cking waste of time. And all it gets you is bitterness.
As I often say. You go ahead and do crazy and be miserable and angry.
I will pay attention to what is actually happening in the world and then increase my wealth even more.
“I do not closely follow the MSM, as you seem to think. Not because they are in a conspiracy to give fake news, as you believe, but because there are much better sources out there.”
Remdesivir failed on safety. It was a dangerous drug. Not one MSM outlet informed the American people of that fact. They were all in the tank to promote government propaganda.
PetroChina Canada
As a Chinese company, how are you investing in them? And some details on why they are a good investment please.
Thanks for the recommendations Dave! I own several of those and am considering VET as well. Any thoughts on it?
Not a big fan of VET. Sold it before the Europeans placed windfall taxes on its European production. Though my crystal ball is as cloudy as the next guys. It could be in for a big rebound. I just prefer other names right now.
I’m not sure to downvote you for falling for the globull warming scam or upvote you for your excellent recommendations of good stocks. As this is an economics blog I guess I’ll have to upvote you.
Lets just assume its a scam then. But regardless of how YOU feel about it, the leaders of 195 countries, and all the world’s largest corporations, banks, investment houses, pensions etc SEEM to believe in the scam.
As a result of the scam, these global leaders have spent several decades and trillions of dollars attempting an energy transition toward renewables and away from fossil fuels, in order to combat the scam. After all this time and effort, all these influential people are STILL pursuing this energy transition, because for some reason they have been convinced by the tens of thousands of scientists that work in this field, and the evidence they see around them on a daily basis. Even though the whole thing must be a scam.
So, as an investor, what am I to do? All I do is follow the money.
The executives of all the oil and gas companies around the world have also bought into the scam. They recognize that the world will be using less fossil fuels in the future. So they have been reducing their E&P budgets for almost a decade now. There is no reason to look for more oil and gas and expand their reserves, if those reserves might end up being stranded for lack of demand. In addition they have been abandoned by the largest lenders and investors (those bankers, investment houses, pensions, etc that have also been duped by
this scam) so they have difficulty borrowing to expand, or issuing more shares to raise money to expand. And to top it off, the boards of these oil and gas firms have adjusted executive compensation to focus on profits, instead of production, because they have also fallen for the scam.
So these oil and gas companies are now laser focused on profits and cash flow. They are spending the minimum on E&P, and mostly they are going to pump all the reserves that they have already discovered over the next decade or two. Over time, this will constrain future supply of oil, just like everyone who has bought into the scam wants. However, demand is still INCREASING.
So the oil and gas companies are raking in the cash flow from higher prices, spending less on E&P, which guarantees even higher prices in the future, paying down debt, buying back shares, and increasing dividends.
All because of this scam.
Whether you believe in the scam, or not does not really matter does it. As long as you pay attention to what all the influential decision makers are doing. That is how you make money.
Summary of government policy (according to Ronald Reagan):
If it moves, tax it
If it continues to move, regulate it
If it stops moving, subsidize it
Canadian real state market deserves another commentary. Prices are skyrocketing in the second biggest country of the world, with a small population and plenty of timber, oil, minerals…
Inefficiency communist style.
Canada is burning. Tax the trees.
Are those Canadian charts from the Government? It appears they/you forgot 2 provinces, BC and New Brunswick and three territories, NWT, Nunavut and the Yukon. Oh well that’s the norm to be neglected here in BC. Keep up the good work MISH!
I took the charts as posted on the Canada website
Here is the link.
https://distribution-a617274656661637473.pbo-dpb.ca/7590f619bb5d3b769ce09bdbc7c1ccce75ccd8b1bcfb506fc601a2409640bfdd
Apparently the federal tax only applies to provinces that do not have their own carbon tax. I assume that means that BC, NB, and the territories all have their own carbon tax so the federal tax does not apply to them.
Where is the Province of New Brunswick on this chart?
I took the charts as posted.
Here is the link.
https://distribution-a617274656661637473.pbo-dpb.ca/7590f619bb5d3b769ce09bdbc7c1ccce75ccd8b1bcfb506fc601a2409640bfdd
If you want something to go out of existence, tax it. So the goal of taxing food is to ultimately drive people out of existence?
Trudeau has shown that he is a dictator wannabe, a lackey for Klaus Schab and the WEF, so it’s not at all surprising that he’s doing this. What is surprising is how the Canadian people just go along with whatever he does. Trudeau will continue to impose tyranny on the Canadian people until they put a stop to it.
The answer lies with the CBC propaganda apparatus that keeps getting taxpayer money, and keeps this turd in power.
Not so easy for the people of any western country to “put a stop to it” as you say. The fix is in for leftist pricks like Trudeau to be re-elected. Same for Biden in the US, Sunak in the UK, Macron in France, and on it goes. Revolution seems to be the only way, and in such cases, the cure is often worse than the disease.
If you want the.complete.story.on the effect.Trudeaus energy policies.are.having on.farmers…I highly recommend.you watch a couple.of.Quick Dick.McDick’s.videos.on you.tube He’s an entertaining and very sensible real Saskchewan farmer who comments.on a lot.of.local issues on a.lot of issues.. My fave.videos.are.”Protestor Diets” and.the “Fertilizer.Ban” being proposed.by out.very own.Liberal dimwits lead by Trudeau…These videos.are.serious but funny and may contain some profanity directed to certain political.parties. You may end up a being a huge fan.of.Dick.Delorme.and his Quick.Dick McDick alias.
I will replace the T with a B:
“Biden has shown that he is a dictator wannabe, a lackey for Klaus Schab and the WEF, so it’s not at all surprising that he’s doing this. What is surprising is how the American people just go along with whatever he does. Biden will continue to impose tyranny on the American people until they put a stop to it.”