Quote:
Originally Posted by lozen
That is why what Canada does will have no effect other than destroy CDN jobs oh wait Alberta & Sask jobs.
When you have the largest emitters have to do nothing till 2030 your fighting a losing battle.
Though as a country if we all switched to cardboard water bottles we may be able to save the planet
#dontlookup
Fwiw , I believe an industry like oil and gas being between 5% to 10% of gdp is high enough .
What’s the real gain of having massive investments in oil long term ?
That sector is not sustainable long term right ?
I think we all know about this for many reasons ?
Oil is already causing massive inflation in our economy .
All around the world we hear about it right ?
So you know already , massive headwind by different factors , will be toward that sector of the economy .
So any long term investment toward oil makes no sense to me .
You can’t run an entire national economy with only 2-5 years horizon ahead just to advantage a small portion of the economy (8% oil ) if it end up doing far more damage to the rest of the economy ….
https://www.thecanadianencyclopedia..../manufacturing
« By the 2000s, the manufacturing sector had declined significantly. Between 2004 and 2008, about one in seven (or 322,000) manufacturing jobs had disappeared ».
A time where big oil and can dollar was bit higher than US dollar .
Yes it’s great to have a high dollar , when you actually have a job , even more so when those that already at the highest earners in Canada , wants to pay even less tax on profits …..and still complaining g of the unfairness of the system , even tho again they already are profiting the most of our economy ???
Didn’t the US shall totally got rekt because of this ?
They went massive borrowing (interest rates are low for over a decade) for cheap money to expend production when oil price were high and when oil went down , they got bankrupt or close to it .
https://www.washingtonpost.com/busin...03b_story.html
« The production boom propelled the U.S. to become the world’s largest producer of both oil and gas. But in doing so, explorers burned through some $342 billion of cash since 2010, leaving little in the way of returns for investors. The biggest oilfield service and equipment companies invested roughly $85 billion in their businesses over the past decade, only to see their earnings fall by $4.7 billion and net debt climb by $19 billion in that same period, according to an Evercore study in February ».
(Great article) .
You need a long term plan .
So what’s your plan to lower price from the supply side ,
since you seem to think to try lowering the demands side is wrong ?
Unless you have other ideas than tax to lower the demand side ?
And if lowering prices of oil is non important then please stop complaining trudeau does nothing to fight inflation ….?
All you seem to say is , we want more money , we want less tax , we want more jobs .
Bravo but who do not want that ?
But would you accept a raise in tax if by letting you do what you want , to pay for the disaster of the manufacturing sector ?
My point , amazing profits and huge increased of % gdp from oil is just profitable for a small part of the economy and population .
Jobs creation isn’t just about Will and skills , it’s about if the value of your currency actually permits certain job to exist ….
Why you think some sector like agriculture needs foreign workers to do the jobs ?
Imagine what will happen with an even oil prices and higher inflation in a period where workers are lacking ?
Even more business closing down , not able to afford higher wages …..
Last edited by Montrealcorp; 01-05-2022 at 06:27 PM.