Climate change, a pandemic, war and nationalistic hoarding are all contributing factors
Events unfolding around the world are creating the perfect playbook for a global food security crisis: climate change, a pandemic, war and nationalistic hoarding are all factors. Climate has been affecting agriculture for a very long time. And the unpredictable nature of severe weather patterns is making the lives of our farmers more difficult. Growing…
Supply management pushed up to 190,000 Canadians into poverty
By Krystle Wittevrongel and Gabriel Giguère New Zealand had never launched a dispute under a free trade agreement until two weeks ago, on May 12, when it launched a trade dispute against Canada under the Trans-Pacific Partnership (TPP), accusing our government of breaking its promises on dairy imports. This was also the first dispute launched…
Liberal claims of “making life more affordable” since 2015 is hogwash
By Franco Terrazzano and Kris Sims There was a clash between reality and the federal Liberal Twitter account last week. The self-congratulatory tweet claimed Liberals have been “making life more affordable” since 2015. When Canadians look at gas prices, grocery store receipts and mortgage payments, that claim might raise eyebrows. Does life feel more affordable…
And OPEC is in no mood to open taps to fill in any gaps created by the absence of Russian crude
The oil markets are likely to face another round of supply disruptions. Most indicators point to a bullish trend in the near future. After recently announcing the release of over 180 million barrels of crude oil from its strategic reserves (SPR) over the next six months to cool down the markets, the United States government…
Self-sufficiency and even reduced trade will lead to a much lower standard of living
Three major factors are drastically changing the world: climate change, the pandemic and, most recently, the war in Ukraine. Much of the conventional wisdom that we learned in school and that still governs many political decisions seems no longer to apply. COVID-19, climate change and attempted conquests appear to give more credence to the often…
The federal debt is now over $1.26 trillion!
By Gabriele Giguère and Olivier Rancourt Montreal Economic Institute The Bank of Canada’s decision to increase the policy interest rate by 0.5 percentage points, up to one per cent, was necessary in the current context. The soaring inflation that is hitting the Canadian economy full force, reaching 5.7 per cent in February, must be reined…
The pandemic was just a dress rehearsal for what’s about to happen
United States President Joe Biden was the first G7 leader to admit publicly that many parts of the world will soon experience food shortages and even famine. The world will be short of many commodities. Regions like the Middle East and northeastern Africa already have dangerously low food inventories. The world will soon discover that…
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…
Much of the blame for sky-high housing and energy prices is on governments
In a country like ours, with its vast expanses and abundant natural resources, housing and energy should be cheap. Yet over the past two decades, housing prices have shot up much faster than the growth in incomes, and now energy prices are doing the same. In both cases, much of the blame is on government.…
It’s time to tackle the inflation that is undermining our living standards
By Miguel Ouellette and Olivier Rancourt Montreal Economic Institute Despite the recommendations of many economists to raise the target for the overnight rate, the Bank of Canada has decided to maintain the status quo – at least for now. Like these experts, we believe that the central bank must begin gradually raising rates at its…