CANADA - Pressures Caused By High Energy Prices
Episode Stats
Words per minute
198.32677
Summary
After years of effort by environmental activists demanding we leave oil and gas in the ground, they ve worked. As Canada sits on some of the largest oil & gas deposits on earth, we re still importing oil from nations such as Saudi Arabia and Venezuela. Meanwhile, the Prime Minister is still blinded by a green ideology and won t even consider talking about expanding Canada s oil & Gas production and export capabilities.
Transcript
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be careful what you wish for. So after years of effort by environmental activists demanding we
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leave oil and gas in the ground, they've worked. As Canada sits on some of the largest oil and gas
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deposits on earth, we're still importing oil from nations such as Saudi Arabia and Venezuela.
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Meanwhile, the Prime Minister is still blinded by, you know, green ideology, and he won't even
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consider talking about expanding Canada's oil and gas production and export capabilities.
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Furnaces across the West are fired up today as a typical mid-May snowstorm has slammed us out
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here in Alberta. The price for gasoline across the country is now averaging $1.97 a liter,
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and it's expected to rise. Now it's absolutely absurd that we're letting world energy prices
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impact the standard of living for us all when we shut in our own resources for alternative sources
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of energy that don't viably exist. Energy impacts the cost of everything. Every consumer good we use
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is transported at some point using petrochemicals. The products likely used hydrocarbons as part of
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their composition, and fossil fuels are used in every aspect of food production.
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If we really do want to battle the pressures rampant inflation is putting upon Canadians,
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the first thing we should be doing is expanding our hydrocarbon production as much and as quickly
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as possible. Instead, Canada's Environment Minister is demanding energy companies invest their current
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profits into green energy projects. It's outright idiotic. Minister Gilboa was silent, of course,
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when oil and gas prices plummeted and companies were losing billions of dollars. Some people like
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to point out that we're bound by world prices and it won't matter how much we develop domestically.
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Now that's sort of a half-truth. I mean, for one, if Canada ramps up production and exports of oil and gas,
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it will put a degree of downward pressure on world prices, albeit in a limited and small way.
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With the mess going on in Ukraine, the upward pressure is going to continue and we're going
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to see prices continue to rise. But still, if Canada's bringing in large amounts of royalties
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from energy production and taxes from people working in the energy sector in the field,
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we'll have room to drop the taxes and fees upon domestic consumption of energy that contribute to
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the high costs. Carbon taxes, GSD, other taxes on energy are draining Canadians dry. The government
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has to stop punishing Canadians for consuming products that we can't avoid. We're
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a winter nation and the majority of us get our heat from petrochemical products. We're also a large
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nation. We have to use vehicles to get around. $70,000 Kesslas with a limited range aren't realistic
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for most of us. We're also an agricultural nation. The carbon taxes, fuel taxes, and now taxes are looming
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on fertilizer even, are preventing us from enjoying more affordable food products, even though we, again,
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have some of the largest agricultural lands on the planet. Most of all, we're just a ridiculous nation.
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We're allowing an ideologically blinded federal government to put us into this position for so
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long. Windmills and solar panels are decades away from replacing petrochemical energy sources,
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if they ever will at all. As the world recovers from the pandemic, Canada should be one of the
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best placed nations to be able to bounce back and even prosper. Instead, we continue to handicap
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ourselves with bad policies. We don't need another national energy program. We don't want to go down
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the road of nationalized energy production. We've already seen how well that served Venezuela,
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and the government owned Petro Canada. It was a disaster. All we need is for the government to
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get out of the damn way. The world wants our products, and investors will happily spend money
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getting those products to market. Until the government ends its crusade against fossil fuels,
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however, we're going to remain an investment pariah. Canadian citizens are going to watch their
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standard of living decline while they literally sit upon a veritable treasure trove of energy resources.
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So how long is it going to take for Canadians to wake up? How expensive will everything have to
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get? And I fear the answer to that. As long as central Canada continues its love affair with
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Trudeau Jr., things are only going to get worse. Quebec truckers have started protests over high
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costs of operations due to government policies. And while other truckers have been labeled as evil
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incarnate by the government, Quebec does hold a special status. So maybe there is a glimmer of hope
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out there. As soon as Quebec votes drop, liberals tend to pay attention. Sad though that it has to
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come to that. Hopefully, I guess Quebec can stand up for the rest of us and we'll see what happens.