The bad: they still satisfy only seven per cent of the world’s energy demand
By Jock Finlayson and Denise Mullen We are living through an extraordinary period in the evolution of international energy markets. Amid the turmoil and trade disruptions caused by Russia’s brutal invasion of Ukraine, energy reliability and security concerns have suddenly re-emerged with a vengeance. And the higher energy costs linked to the war are hitting…
And the Trudeau government has no convincing plan to address the problem
By Jock Finlayson and Ken Peacock The threshold has been crossed. Canada’s largest bank, RBC Financial Group, just published a report predicting that Canada will tip into recession in early 2023. RBC’s call is unusual. Anticipating recessions is notoriously difficult. And it is uncommon for analysts at any of the country’s large financial institutions to…
Bold vision without a solid grasp of the facts amounts to hallucination
The holy grail of “net-zero” is electrification. Over time, this solution to the problem of global climate change envisions that today’s fossil fuel-centric energy system will transition to one run by water, wind, solar, biofuels, hydrogen, nuclear, and – maybe eventually – fusion. In many countries, eliminating fossil fuels in the electric sector is the…
As proposed, the CFS will do little to reduce GHG emissions, will hike the cost of energy and undermine Canadian energy security
By Jock Finlayson and Denise Mullen Business Council of B.C. Amid the worst economic and public heath crisis in Canadian history, the federal government has decided to proceed with a major new regulatory initiative that promises to add billions of dollars to the cost of energy for households and businesses in every corner of the…
A narrow focus on the green/clean sector won’t get the job done. The sector is too small and the workforce’s skill set doesn't suit the goals
By Jock Finlayson and Denise Mullen Business Council of B.C. After the shock Canadians have experienced in 2020, an economic recovery that focuses on jobs, incomes and business growth is much more important than whether it’s ‘green’ or some other colour. However, in Canadian politics these days green invariably symbolizes good. Never mind that green…
The only way to raise living standards and incomes for Canadians is by building a more productive economy. Yet politicians are mum on the subject
The recent federal election campaign saw much discussion about climate change, energy policy, housing, the social safety net, and the well-being of the never-defined “middle class.” One subject that was ignored by both the media and those seeking office was productivity. That’s unfortunate and somewhat puzzling. After all, in the long term the only way…
There are formidable technical and economic obstacles to replacing fossil fuels with other forms of energy
With the federal election fast approaching, we can expect to hear a lot about climate change, energy policy and how government can spur the development of a ‘low-carbon’ economy. These themes are central to the platforms of a number of the political parties contesting the election. The discussion of these topics takes place against the…
By Jock Finlayson and Denise Mullen Business Council of British Columbia When an irresistible force meets an immovable object, conflict typically ensues. So it is with the world-wide effort to come to grips with the unprecedented challenges posed by climate change. While most countries – minus Donald Trump’s America – have notionally signed on to…
The results of greater energy efficiency will materialize over the long term, even if politicians seek abbreviated timelines
Jock Finlayson and Denise Mullen Business Council of B.C. Metro Vancouver residents are rightly upset over paying the highest gasoline prices ever recorded in a North American city. Cost-of-living pressures are already significant for many households in British Columbia, making the recent jump in pump prices particularly hard to stomach. The unprecedented attention being given…
We need a retooled and simplified tax system that’s suited to a 21st-century economy being reshaped by technology
The latest federal budget, delivered in March, contains a wealth of information on the activities of the government, as well as the money it raises for its endlessly expanding array of expenditure, regulatory and income support programs. This year, the federal government expects to spend $356 billion in total. Roughly $330 billion is allocated to…