Canada stymied by poor competitiveness and sluggish growth

[Anonymous]

Speaking of lavishing massive amounts of taxpayer dollars on companies that can't compete, Canadians are rejecting the CBC.



Canucks ditching CBC

So why do we keep funding it?

https://torontosun.com/opinion/columnists/lilley-canadians-are-ditching-cbc-so-why-do-we-keep-funding-it">https://torontosun.com/opinion/columnis ... funding-it">https://torontosun.com/opinion/columnists/lilley-canadians-are-ditching-cbc-so-why-do-we-keep-funding-it

I never watch CBC anymore. Why? Liberal party propaganda.

Always was.

[Anonymous]

For those of us out there and in various levels of government in this province and country calling for the destruction of our most vital economic sector, this is for you to read.



Hear the Norwegian Energy Minister in response to criticisms of their government's new round of oil blocs award:



"Norwegian oil and energy minister Sylvi Listhaug rejected any call to phase out the country's oil industry.



"That would be a disaster for Norwegian society. There are ... 200,000 jobs associated with the industry, and the massive amount of value created enables us to maintain our incredible welfare model," she told Reuters"



No sensible government with an understanding of how the modern economy works, would take steps to undermine their own economy. This was the approach of previous NDP government and the centre piece of the federal Liberal government.



https://www.reuters.com/article/us-norway-oil/norway-awards-69-oil-and-gas-exploration-blocks-idUSKBN1ZD1GV?fbclid=IwAR0qTfXoFXmPxmuB3OQgkDopQuZ_gzKBqdy1UbgflK97_1UADCI-pEa7HUI">https://www.reuters.com/article/us-norw ... CI-pEa7HUI">https://www.reuters.com/article/us-norway-oil/norway-awards-69-oil-and-gas-exploration-blocks-idUSKBN1ZD1GV?fbclid=IwAR0qTfXoFXmPxmuB3OQgkDopQuZ_gzKBqdy1UbgflK97_1UADCI-pEa7HUI

Norway awards 69 oil and gas exploration blocks

[Anonymous]

Rest of Canada gets painful taste of economic obstruction



It's been days since passenger and freight rail traffic running on Canadian National became paralyzed by a series of blockades.



Those have been manned by demonstrators supporting the cause of some Wet'suwet'en First Nation hereditary chiefs in B.C., who oppose the construction of the Coastal GasLink pipeline going through their traditional territory.



For hundreds of railway workers, the effect has been swift and acute: they've been temporarily laid off. For thousands of others whose livelihood depends on a functioning railway, the bad news may be yet to come.



The side-effects could reach even farther if the supply lines for such commodities as food for grocery stores, chlorine for water treatment, jet fuel for civilian aircraft and propane for heating remain choked. (How ironic, by the way, that an anti-pipeline protest should so neatly demonstrate the usefulness of pipelines to deliver the raw and refined energy Canadians need to go about their lives.)



Federal Conservative Leader Andrew Scheer, addressing the House of Commons Tuesday, described the situation as a small group of radical activists holding our economy hostage. Where have Albertans heard this story before?



Eastern Canada is, in a sense, getting a taste of what it's like to have an economic artery plugged by politics. Alberta has been unable to get its energy to market at a fair price because radical activists have been obstructing the construction of pipelines.



Similar worries affect every First Nation that supports the Coastal GasLink pipeline, whose construction will allow residents to reap the social and economic benefits of the natural resources under their feet.



The delays — some of which can be measured on a scale of years, not mere days — have cost our respective economies jobs, growth and opportunities.



That said, the current rail blockades are close to reaching a whole new level of threat, with the potential to put lives at risk due to looming shortages of heating fuel and chlorine.



What more motivation does the federal government need to end this impasse?



"Patience may be in short supply," Prime Minister Justin Trudeau told Parliament Tuesday. "We need to find a solution and we need to find it now."



But a solution was needed yesterday — and we're fairly certain patience has run out, too.

[Anonymous]

If the Bloc Quebecois turns on the protestors, Trudeau will start acting like a leader.

[Anonymous]

Canada's economic growth slowed to an annualized rate of 0.3 per cent in the fourth quarter, the worst performance in almost four years, thanks in part to strikes, bad weather and shutdowns, Statistics Canada said on Friday.





The number matched both the forecast of analysts in a Reuters poll as well as the Bank of Canada's prediction. Statscan revised third quarter annualized growth down to 1.1 per cent from an initial 1.3 per cent.

https://globalnews.ca/news/6608255/canada-gdp-fourth-quarter-2019/">https://globalnews.ca/news/6608255/cana ... rter-2019/">https://globalnews.ca/news/6608255/canada-gdp-fourth-quarter-2019/



Expect further downward revisions. Blockades, cancelled resource projects, investment flight, ballooning federal deficits, carbon tax increases, national disunity and the coronavirus are the reasons for sluggish growth.

[Anonymous]

The recent #ShutDownCanada activism that halted rail traffics for weeks has caused serious backlogs for supply chains. That has a cost.



The larger cost is no doubt the message that was sent to investors and big business that Canada cannot offer the stability that their sectors crave. We are looking more like a developing nation besieged by regular turmoil than we are one of the most stable nations in the world.



Then there are the coronavirus concerns. Regardless of whether you think the fears are overblown, many people — including investors — clearly do not. Markets are plummeting and events that drive economic activity are being cancelled.



Consumers are changing their behaviour and businesses are being forced to close due to lock-down measures.



Morneau has already signalled that the government is planning scenarios to assist affected individuals. Our preference is to assist those frontline workers who may be living from paycheque to paycheque but are told to self-isolate for two weeks or more.



No one should fear not being able to pay the bills or face eviction due to their abiding by public health protocols.



Part of the problem for the federal government now is that they are already deeply indebted as it stands.



Many financial experts have commented over the past five years on how unnecessary it's been for Prime Minister Justin Trudeau to insist on running double digit deficits outside of a recession.



They warned that this could come back to bite us if times suddenly take a turn for the worse, which is exactly what's happening now.

[Anonymous]

Starbucks plans to close up to 200 Canadian locations over two years



TORONTO -- Starbucks is planning to close up to 200 coffee shops across Canada as it responds to changes of consumer habits in the COVID-19 pandemic.



The Seattle-based chain is restructuring its company-operated business in Canada under a two-year plan.

https://www.ctvnews.ca/business/starbucks-plans-to-close-up-to-200-canadian-locations-over-two-years-1.4977752">https://www.ctvnews.ca/business/starbuc ... -1.4977752">https://www.ctvnews.ca/business/starbucks-plans-to-close-up-to-200-canadian-locations-over-two-years-1.4977752



Bad news for those who cannot live without their double mocha lattes.

[Anonymous]

Yesterday while most of Canada is still wrapped up in the depths of the WE scandal, the Trudeau government made another devastating announcement to try to kill our oil and gas sector.



The Liberals have no realistic plan to reach their own national emissions targets for either 2030 or 2050. Despite this, they now going to force all new proposals for new mines, power plants, pipelines or railways in Canada to include plans to hit "net-zero" emissions by 2050 in order to have any hope of getting approved.



Once again, the Liberal's only "environmental plan" consists of killing our energy sector which would actually have the net effect of INCREASING global emissions.



That's not an environmental plan. That's it's not an energy plan. It's just a plan that is bad for all of Canada.

[Anonymous]

Yesterday while most of Canada is still wrapped up in the depths of the WE scandal, the Trudeau government made another devastating announcement to try to kill our oil and gas sector.



The Liberals have no realistic plan to reach their own national emissions targets for either 2030 or 2050. Despite this, they now going to force all new proposals for new mines, power plants, pipelines or railways in Canada to include plans to hit "net-zero" emissions by 2050 in order to have any hope of getting approved.



Once again, the Liberal's only "environmental plan" consists of killing our energy sector which would actually have the net effect of INCREASING global emissions.



That's not an environmental plan. That's it's not an energy plan. It's just a plan that is bad for all of Canada.

Everything Trudeau does is about making himself look good. All of these unnecessary regulations will not change climate, but will send investment money and jobs to other countries.

[Anonymous]

I fear that Canadians will be forced into lower living standards in the future due to misguided government policy, particularly as it pertains to energy use and resource development. This will adversely affect our ability to attract highly skilled immigrants. In fact, it will lead to a brain drain.



By Elmira Aliakbari and Ashley Stedman, analysts at the Fraser Institute. This op-ed was co-authored by Jairo Yunis, a Fraser Institute analyst.



Energy use can help stimulate post-COVID recovery in Canada



Specifically, the study found a positive long-run relationship between energy use and economic activity, and that energy consumption is an essential input in economic growth. In other words, jurisdictions with abundant and affordable energy, which allow for greater energy consumption, are likely to experience higher rates of economic growth. For example, a 10% increase in energy consumption is associated with a 1.2%increase in economic activity.



According to the Trudeau government's recent fiscal snapshot, Canada's economy will decline by 41% (on an annualized basis) in the second quarter of 2020. Canada also experienced sluggish economic growth prior to COVID-19.



Between 2010 and 2019, Canada's real Gross Domestic Product (GDP), the total value of domestically-produced goods and services, grew at an average annual rate of 2.2% compared to 2.8% in the 2000s, 2.4%in the 1990s and almost 3% in 1980s. In fact, Canada's economic growth over the past decade was weaker than other developed countries including the United States, Germany, the United Kingdom and Japan.



Again, given Canada's slow economic growth in recent years, and the deteriorating state of the economy due to COVID-19, policymakers should evaluate new and existing government programs and regulations— and eliminate those that hinder economic growth — so Canadians and their families can recover and thrive.



Unfortunately, in recent years, despite the important role affordable energy plays in economic growth, federal and provincial governments have implemented policies that artificially constrain energy use and/or increase energy costs. The most glaring example is Ontario's Green Energy Act, which forced investment in renewable energy sources and caused skyhigh electricity prices.



Then there's the federal government's plan to have 90% of Canada's electricity produced by non-emitting sources by 2030, which requires reduced use of fossil fuels and increased reliance on renewables such as wind and solar. These targets will adversely affect both the availability and affordability of energy.



While Ottawa's rhetoric, that renewable energy investments will "build our economy," sounds good, in reality, policies that reduce energy availability and make it more expensive actually hinder economic growth.



Interestingly, earlier this month federal Finance Minister Bill Morneau said the government will "focus on growth." But if the federal government, or other governments across Canada want to foster economic growth, they must understand that energy availability and affordability are key. This will require a fundamental rethink of various energy policies and environmental targets meant to reduce energy use.



Fostering energy abundance, by striking the proper balance between environmental and economic concerns — not trying to ration, reduce or overprice energy — should be the guiding principle for federal and provincial governments as they grapple with one of the worst recessions in Canadian history.



"A 10 per cent increase in energy consumption is associated with a 1.2 per cent increase in economic activity."

[Thiel]

In order to boost growth we need to use the cheapest and most plentiful forms of energy. For some jurisdictions that could be nuclear, for others it's natural gas, and still others it is hydroelectricity. There is no place in Canada where wind and solar produce the best bang for the buck.

[Anonymous]

Trudeau will use the pandemic as an excuse to permanently reduce Canadian growth and living standards.



From Postmedia



It's out of left field

Expect Trudeau to spend big on radical agenda



TORONTO — Canada after the pandemic will not be the same as it was before if Justin Trudeau has his way. I'm not talking about the bankrupt individuals or businesses forever shut down by COVID-19, I'm talking about the shape of the economy.



"This is our moment to change the future for the better," Prime Minister Trudeau said Tuesday as he announced Parliament would come back in September.



"We can't afford to miss it because this window of opportunity will not be open for long."



It was a call to fundamentally transform Canada in the middle of the pandemic.



"The taps are really going to be turned on," a Liberal source told Reuters this week.



It was the second time in two weeks that the Liberals have let it be known that they intend to start spending big time in an attempt to remake Canada's economy during the pandemic.



"Justin Trudeau is weighing sweeping changes to the country's social welfare system and a series of economic measures that will align Canada with ambitious climate goals," Reuters reported. Those comments mirrored what had been leaked to the Toronto Star more than a week earlier: That Trudeau wants to remake the economy using the pandemic as an excuse. What can we expect?



Based on those leaks, [size=150]we should brace for much higher government spending, expanded social programs, new taxes and a real push to shut down Canada's oil and gas sector.[/size]



The government made clear that [size=150]"decarbonizing" the economy is one of its goals, which effectively means shutting down the oil industry.[/size]



"Of course, it has to be part of it," new Finance Minister Chrystia Freeland said when asked if decarbonization was part of the government's economic plan.



Not surprising, given that the Liberals haven't even walked back from their promise to ban single-use plastics even as their use has shot up as a way to deal with COVID-19.



I think we can also expect the government to lay the groundwork for a universal basic income and pay people not to work rather than get on with the difficult task of creating an economy with jobs for all. Liberal-leaning thinkers have been calling for this to happen since the pandemic broke out.



[size=150]We should also expect higher taxes[/size], regardless of what Trudeau says.



"The last thing Canadians need is to see a raise in taxes right now," Trudeau said.



That promise and $1.50 might buy you a cup of coffee.



Remember that Trudeau made this pledge not to raise taxes as he announced he had just asked the Governor General to prorogue Parliament. T[size=150]rudeau spent 10 years campaigning against prorogation to avoid difficult situations and then prorogued as three committees were investigating him over the WE scandal.

[/size]

Do you still believe he won't raise taxes?



[size=150]Speculation that the Liberals will bring in a tax on homeowners selling their primary residences continues. It was part of a policy planning document put together by the Liberals in the last election.[/size]



They distanced themselves from the idea in the middle of the last election when it became a contentious issue, but now the Canada Mortgage and Housing



Corp. is funding a study that includes looking at this idea. CMHC president Evan Siddall has also spoken about the need to level the playing field between homeowners and renters.



As for overall taxation, Trudeau's new finance minister has written a book aimed at taking on America's rich. Her 2012 book Plutocrats makes clear that Freeland believes that high taxation is key to middle-class success despite evidence to the contrary.



Freeland cites and praises the work of people like French socialist economist Thomas Piketty, who advocates for marginal tax rates of 70%-90%.



These may seem like ideas no government in Canada would ever put forward, but we aren't in normal times. Like Trudeau said, the window of opportunity won't be open for long.



Expect radical change.

[Anonymous]

The Trudeau regime is racking up massive amounts of debt by expanding public welfare while simultaneously kneecapping the resource that pays for everything. This is what turned Venezuela into the Zimbabwe of the Americas.



By Lorne Gunter of Sun News Media



Huge strain on economy

Liberals see no down side to massive expansion of Canada's social safety net



Nearly 40 per cent of Canadians pay no federal income tax. And, no, that's not rich people who are employing high-priced tax accountants to dodge their "fair share." That's a myth perpetrated by lefty politicians and social justice warriors.



Most of the people who pay little or no income tax to Ottawa are people in the bottom 40 per cent of income earners.



It gets even worse (or is that better?) if you take into account benefits paid to individuals and families in the bottom two "quintiles."



If you look at all taxes — provincial, municipal, sales — the bottom income earners in Canada pay 17 per cent of their total income in taxes. The upper earners pay 35 per cent.



However, once you throw in GST rebates, the Canada Child Benefit, EI, pensions and other income-based supports, the bottom earners actually receive a top-up of their incomes of nearly 50 per cent, while upper earners continue to fork over 35 per cent.



We can debate another day whether it is healthy for a society to have four out of 10 adults living off the labour and taxes of the other six, but today my point is that a large percentage of Canadians already get a lot of government benefits for free.



So if you want to know how the Trudeau government plans to sell its new scheme to greatly expand the size and generosity of the federal government without raising taxes, remember that 40 per cent of voters are already convinced that something-for-nothing is the normal course of events.



A lot of young voters, especially, simply moved from living off their parents to living off the government and have never had to earn enough money to afford their lifestyles.



All of this has been reinforced by years of media and cultural messaging that this is what's fair. Rich people only got rich because they gamed the system. They should be taxed way more so government can give the rest what they deserve.



At its very core, the Liberals' proposal — including a $37-billion expansion of EI announced on Thursday — is the result of decades of this kind of class-envy propaganda.



It is also the result of the current Liberal cabinet's overall economic ignorance. Cabinet does genuinely seem to believe that such a massive expansion of Canada's social safety net — perhaps the greatest single, overall expansion in our history — is merely a matter of will.



Politicians simply need the courage to dream it up. Implementing it can be done either through higher taxes on the One Per Cent or through never-ending borrowing, with no economic or fiscal consequences.



It's an odd (and dangerous) mix of supreme arrogance and hopeless naivety.



Not only will this be a huge strain on the nation's economy, the corresponding attack on Canada's energy sector that will almost surely come in the new ultra-"green" plan that has yet to be announced, will be a similar strain on national unity.



Just wait, the most anti-oil government in Canadian history is about to double down on its efforts to wind down oil and gas production, oilsands development, petrochemical refining and pipeline construction.



Any day now, expect the Trudeau government (which is not constrained at the moment by anything so inconvenient and obstructive as a sitting Parliament) will further try to deflect attention from its ethics scandals by announcing huge new subsidies for wind turbines, solar farms and other fantasyland "green" energy conversions.



The Liberals will attempt to placate the West by offering up plenty of borrowed money for job creation in the new energy field, but it won't even come close to providing the prosperity a healthy oil industry can.



When that happens, expect regional tensions to worsen.

[Anonymous]

Over the last five years, Canada has been heading in the wrong direction. When we should have been paying down debt and saving for emergencies, Trudeau spent us into the red with no plan to balance the books. When pipelines should have been approved and built, Trudeau smothered them in red tape and scared away investment. When we should have stood up to China and built stronger relationships with our other trading partners in Asia, Trudeau kowtowed and dithered.

[Anonymous]

Could you imagine having a leader who champions domestic industry, jobs, investment and lower energy costs for business and consumers.



Trump Administration Touts Benefits of US Oil and Gas Production

American energy security, quality of life reliant on domestic energy sources, report says



A report released this week by the U.S. Department of Energy (DOE) illustrates the critical role that domestically produced oil and gas plays in the U.S. economy. The report also outlines how American innovation in energy technology is a key driver of economic success, and the cornerstone for sustaining American living standards now and into the future.



Deputy Secretary of Energy Mark Menezes announced the release of the report at an energy and manufacturing roundtable in New Mexico on Monday. "Oil and natural gas provide more than two-thirds of the energy Americans consume daily," said Menezes. "In addition to meeting our energy needs, these fossil fuel resources are integral to our standard of living." He said the report describes these resources' importance for the United States, the technologies that rely on U.S. oil and gas, and opportunities for the future growth of the industry.



The report also ties in with President Donald Trump's declaration of October as National Energy Awareness Month. In his proclamation, Trump described America's natural resources as "God-given gifts," and recognized the "preeminent importance of our Nation's energy industry to the comfort of our daily lives and to our national security."



According to the report, the U.S. oil and natural gas industries support almost 900,000 American jobs, while increased domestic supply also has the effect of lowering energy prices for American consumers. The report draws on research from the Council of Economic Advisers, which shows that "The lower oil and natural gas prices resulting from increased domestic oil and natural gas production provided $203 billion in annual savings to U.S. consumers—equal to $2,500 per year for a family of four. "



The Office of Fossil Energy states that in addition to the significant savings to consumers and large number of well-paid jobs, the production of oil and gas in the United States leads a range of other, far-reaching benefits. For example, the industry contributes to state and local government revenue in the form of taxation, while U.S. oil and gas production also ensures a ready supply of the feedstock materials used by the chemicals, plastics, and fertilizer industries. While American fossil fuel production secures a degree of domestic energy independence, exports of American Liquefied Natural Gas (LNG) also help ensure that U.S. allies and trading partners enjoy greater energy security.



The DOE report also states that producing energy products in the highly regulated American petroleum and natural gas industry ensures that environmental impacts are minimized compared to less regulated oil and gas industries abroad.



"While the United States was once heavily reliant on oil and natural gas imports, we are now a major supplier in international energy markets," said Assistant Secretary for Fossil Energy, Steven Winberg. "We will continue to foster relationships with industry, academia, state agencies, the private sector, and non-governmental organizations to drive innovation forward, to underpin U.S. economic growth and energy security."

https://www.theepochtimes.com/trump-administration-touts-benefits-of-us-oil-and-gas-production_3527843.html?utm_source=morningbriefnoe&utm_medium=email&utm_campaign=mb-2020-10-07">https://www.theepochtimes.com/trump-adm ... 2020-10-07">https://www.theepochtimes.com/trump-administration-touts-benefits-of-us-oil-and-gas-production_3527843.html?utm_source=morningbriefnoe&utm_medium=email&utm_campaign=mb-2020-10-07