I find the switch from, “save the darkness to daylight savings time” confusing because I never know what time it really is, which creates a sort of mental eclipse.
Be prepared because we are about to enter a different type of time zone with a fiscal eclipse on the horizon.
What am I talking about? I’m glad you asked. This is when the environment casts a shadow on our economy. This also triggers the emergence of political amphibians to seek higher, safer, and sunnier ground.
Phase one of this temporal event has been my incessant rant and warning on the economic time bomb set to go off on May 13, 2021 if flow of Alberta crude through Line 5 is choked off, and if our leadership(?) in Ottawa does the same.
Make no mistake, this will be a major, if not catastrophic, election issue for Prime Minister Justin Trudeau unless President Biden comes in and rescues him.
Beware the Cheshire cat Mr.Trudeau — he may come back to bite you!
If Line 5 has been in operation for 68 years and never spilled a drop of crude then what have the ever so watchful politicians been watching for close to seven decades?
If the Keystone XL was nixed by the first Obama administration — when today’s president Biden was only a vice president — why wasn’t Line 5 shut down as well?
Taking it a step further, why not shut down all Alberta crude, and the three million barrels per day from it?
The next phase of the economic shadow day is the Biden hosted Climate Summit on April 22, which of course is perfectly timed for Earth Day. It is suspected that this will be the occasion when the U.S. will propose, maybe even insist, on global action on financial regulations to bring the climate back to earth, so to speak.
This will be interesting because U.S. doesn’t have any such regulations; in fact, it is a sad laggard with not even the basic entry level carbon tax.
But surely this is where our PM, our very own Caped Crusader of Carbon can lend his advice?
Maybe it’s time for Justin Trudeau to slam his fist on the virtual table and tell the U.S. that unless there is a binational carbon tax Canada will impose tariffs on all imported U.S. manufactured goods.
This, on top of a threat to close off all exports of crude from Alberta.
That should get the attention of the new U.S. President.
But of course, it will never happen.
Our PM forgot to turn the clocks back or is it forward? Let him decide. Then so will we.
– Roger McKnight – B.Sc., Senior Petroleum Analyst