As Canadians grapple with worsening affordability issues, ranging from housing, food, to energy— the federal government— doing little to fix immediate escalating prices but lots to profess it’s climate agenda— is vigorously moving along with a nation-wide net-zero electricity transition by 2035.
Why? Because fighting climate change is the solution to affordability! Certainly, cleaner air provides a positive externality for all, but will it actually solve Canadians’ woes of consistently empty wallets? According to Alberta Premier Danielle Smith, the Liberals’ forthcoming clean electricity regulations are going to leave a $118 billion-gaping hole that taxpayers will be on the hook for.
“Moving down this path is going to have a cost implication to each and every Albertan and every household,” said Alberta Electric System Operator (AESO) president Michael Law this week. Currently, Alberta derives 72% of its electricity from natural gas, and about 12% from coal. According to Smith, reaching net-zero in twelve years isn’t feasible because the province wouldn’t have enough baseload power that’s otherwise sourced from natural gas, ultimately leading to rolling blackouts.
Even Federal Environment Minister Steven Guilbeault acknowledged Canadians’ energy bills will increase anywhere between $35 to $61 annually by 2040 if the Liberals’ net-zero targets get the green light. To ease the surmounting household burden, the federal government plans to cover half of the cost of the regulations via low-cost financing, tax credits, and other funds, which, drumroll— are too, paid for by Canadians.
Nevermind the blackouts or the added strain on the Canadian taxpayer, because according to Prime Minister Justin Trudeau, there is a magical connection between fighting climate change and immediate solvability of daily struggles. A green is the ticket to a fuller wallet!
Don’t believe us? Let’s take a moment to reminisce back to early September, when in a notable assembly of left-leaning luminaries at the Global Progress Action Summit in Montreal, Canada’s Prime Minister Justin Trudeau shared his unique wisdom. He eloquently suggested that the route to conquering the mundane woes of high prices and unaffordability is through addressing—wait for it—climate change and inclusivity!
So, for those struggling to afford basic needs, fear not! Trudeau is on a gallant quest to make the world fairer and greener. It seems he has discerned a magical connection between fighting climate change and immediate solvability of daily struggles. A green leaf might just be the ticket to a fuller wallet!
Interestingly, Trudeau points out how those on the right side of the spectrum simply reflect and amplify public frustration, making them feel heard. Contrastingly, Trudeau’s method seems to be telling the struggling public, “Look at the brighter, greener future! Who cares about the burning hole in your pocket when we can have cleaner air?”
Despite this epiphany, Trudeau finds himself in a whirlpool of criticism back home. It seems the Canadian crowd favors the more tangible, earth-bound solutions promised by Conservatives. The NDP, on the other hand, is throwing punches at the big corporates for inflating food prices, while Trudeau seems to be leafing through a green dream book.
His co-panelists, however, seem to be fans of his green-affordability connection. Former New Zealand Prime Minister Jacinda Ardern metaphorically emphasized acknowledging the fiery challenges and providing basic needs before diving into larger debates, and Norwegian Prime Minister Jonas Gahr Støre accentuated the translation of lofty goals into daily life solutions, keeping the optimistic flame of the progressive movement alive.
So, next time you’re upset about soaring prices, just remember Trudeau’s green wisdom; apparently, a cleaner planet might just magically fill our wallets.
Information for this briefing was found via CP24 and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.