The world is learning the hard way that the global economy still relies on fossil fuels
With the UN-sponsored Climate Change Conference (COP26) climate talks in Glasgow over, it is important to review some of the agreements and implications that have resulted from this process and assess the impact on Canada’s energy resources sector. Putting the rhetoric in context One can take seriously the undeniable threat posed by climate change while…
Carbon border taxes won’t save the climate but they will create trouble for the world economy
Carbon taxes at borders are becoming a popular idea among some countries and regions of the world. It’s an idea destined to damage the global economy. For example, the European Commission, the European Union executive institution, wants environmental tariffs “on imports from countries with less stringent climate-protection rules.” Democrats in the United States Senate proposed…
Opposition to the Communist Party of China’s aggression needs to be multilateral
The Chinese economy is growing and surpassing the United States economy in size. That stature, with its consequent soft and hard power, means opposition to the Communist Party of China’s regime needs to be multilateral. No matter how much unipolarity the U.S. has enjoyed in recent decades, it can’t go it alone and would benefit…
But U.S. protectionism is still a threat
Trade is essential for Manitoba’s economy. International exports and imports represented 46.4 per cent of its gross domestic product in 2018. With a significant goods-related industry estimated at 26.9 per cent of GDP in 2019, Manitoba needs strong trading partners to help develop its economy. In 2019, 30.6 per cent of its exports were resource-based…
The bull run is on
Is Brent crude oil heading toward US$80 a barrel? If the market signals and the pundits are to be trusted, the bull run is on. Oil prices headed to a third straight week of gains on Friday. Brent futures rose 84 cents, or 1.1 per cent, to settle at US$78.09 a barrel, while U.S. West…
The reality is, Canadians have a significant stake in the United States oil and gas industry
By Mark Milke and Lennie Kaplan Canadian Energy Centre One critical problem for political and business leaders is getting people to think outside their local box. While many people might prefer a local restaurant or coffee shop to a national chain, international trade is the very reason a Canadian restaurant can offer inexpensive vegetables in…
Taking a neutral position can give Canada an advantage. But government will have to be pragmatic
In November 2018, Canada and Mercosur opened free-trade negotiations. Any such deal represents great potential for Canada – but there are concerns. Mercosur – Argentina, Brazil, Paraguay and Uruguay – is a bloc with a gross domestic product of over $3 trillion and a population of 261 million in 2019. That compares to the GDP of…
Canada must be aware that protectionism has returned which makes international trade complicated
Canada faces new pressures on any attempts to ramp up international trade. In 1994, the United States, Mexico and Canada created a free-trade region with the North American Free Trade Agreement (NAFTA). Considering that the U.S. has been the largest economy in the world from 1994 to now, NAFTA was a true asset for the…
Represents a significant opportunity for decision-makers to advance a relationship that has tremendous potential for Canada
By Shuvaloy Majumdar and J. Michael Cole Macdonald-Laurier Institute In 2021, the Chinese Communist Party (CCP) turned 100, and for more than 50 years, Canada has recognized the legitimacy of the People’s Republic of China (PRC) run by the CCP. The hope that began in the 1970s (and has persisted with limited evidence of success…
Relaxing measures at the border could serve as an indication that vaccination efforts are working
Prime Minister Justin Trudeau has made no secret about his belief that every Canadian should get vaccinated. “I just want to get back to normal,” he said in May, insisting that the path back to normality was to ensure that everybody, including the “crusty old uncle who resists” or a “friend who’s skeptical,” take a…