Today's discussion:

The smoking gun for Canada’s weak economic growth? A collapse in energy and resource investment

Canada’s resource and energy sector suffered two hits in 2015. One was the global commodity bust. The other was the election of the Trudeau Liberal government. Our current economic numbers are not good, but the decline is not inexorable. Canada has all the tools to escape our current downward trajectory, starting with our incredible endowment of natural resources.

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Michael B

I’m looking forward to Oct. 2025, after which we’ll see.

2nd May 2024 at 4:14 am
Harriet

Get rid of Trudeau & his millionaire friends & we might get Canada on track again.

2nd May 2024 at 9:02 am
Lauraine

If trudeau has rich friends it means they actually got an education and created something.

2nd May 2024 at 1:13 pm
Greg Jackson

Or more likely, they inherited their wealth, like Trudeau.

2nd May 2024 at 2:13 pm
Kim Morton

No surprise for those of us that work in heavy construction and resource industries. Who, in their right mind, would invest in Canada, when it takes ten years or more just to get the approvals to start building? BC has a double whammy of a federal government that hates the west in general, and a provincial government that is determined to destroy all non government union jobs.

2nd May 2024 at 8:48 am
Murray Sondergard

The passage of the Impact Assessment Act has been disastrous for major energy projects in Canada. You can spend years navigating the environmental and Indigenous consultation minefields to obtain an approval from government, only to have it revoked by Cabinet or the courts. No private entity is going assume these risks. We desperately need to look at the regulatory framework again, if we are to take advantage of the opportunities in front of us. I ask you, who would invest their own money in a new mining project, knowing it will take 8-10 years before you can even begin construction?

2nd May 2024 at 12:10 pm
Lauraine

And without proper consultation and environmental studies, no pipe got built from Alberta to tidewater for 70 years. It took clarity of that legislation to make tmx twinning real.

2nd May 2024 at 1:18 pm
Don Morris

These EV battery investments are driven more by ideology than a business sense. EV’s are not practical in Canada and given the ongoing financial crises, it’s very doubtful the auto sector will ever rise on EV’s to the number of sales of ICE vehicles currently sold.
Fewer people in future will own cars. When the choice is home, food, utilities or the luxury of an auto you can’t afford to drive, it’s the latter that will go.
And we can’t blame any U.S. President for an America First policy, that IS their job, to look after Americans first. It’s a shame we don’t have people with the same philosophy running Canada.

2nd May 2024 at 11:08 am
Lauraine

EVS are the future. Why plan for the 50’s when this is 2024?

2nd May 2024 at 1:14 pm
L

Charging, anyone?

3rd May 2024 at 12:13 am
A. Chezzi

A pipeline completed, expected to raise the GDP dramatically. deals with car makers providing good paying, long term jobs, a statement by the president of Honda expressing confidence in the Canadian economy, seem to be overlooked.
While the feds are the focus of the article, there is no mention of Doug Ford’s inability to get the Ring of Fire on line.

2nd May 2024 at 8:30 am
RJKWells

Right…

And we’re going to need all those “good paying, long term jobs” to cover the $24B cost overrun in building the TMC pipeline – something Kinder Morgan could have more easily completed with their own money. That bloated boondoggle one ranks up there with the Trudeau Government’s cancelation of the F-35 program, promising to get us a better fighter jet for far less, only to backtrack on that – the result being fewer F-35’s coming our way, at a higher cost to taxpayers.

You’ve also overlooked the tens of billions of dollars committed by Ottawa ‘investing’ on a still ineffective power source, one far away from overtaking the reliable internal combustion engine. All that money for a handful of jobs is reminiscent of the purchase of Manhattan Island, centuries ago by the Dutch. Ottawa has been generous to Honda, Stellantis NV, LG, Volkswagen AG, and Northvolt AB, leaving us with a bag of shiny beads.

As for the vast mineral deposits in the Northern Ontario Ring of Fire region, one would have to be a naive optimist to believe that those thinking about investing there can be assured of a timely environmental review process.

The road to hell we’ve traveled on in this, our lost decade, is paved with the bones of taxpayers; the skulls of Ottawa technocrats the lampposts that light the path (apologies to St. John Chrysostom).

2nd May 2024 at 10:05 am
Lauraine

So, it cost money, and now will make it for the entire country, most of all Alberta, new customers have emerged, so that americans cannot skin us on the product as they have been doing for decades.

2nd May 2024 at 1:16 pm
RJKWells

So it cost money? Many fail to grasp the value of a dollar and how long it will take to recoup what we’ve just put out.

If I were to give you a dollar a second non-stop, it would take just under 12 days to reach a million dollars. And a billion? You’d have to stick around for 32 years. Now multiply that by 34, which is what Ottawa spent on our behalf. But, hey, it’s only money, right?

BTW, the Americans never came to us looking for our oil and gas. We went to them and they paid us market rates.

2nd May 2024 at 3:22 pm
Henry Clark

I learned that magic and miracles existed only in the minds of the pious and faithful.
If politically correct speech is real, I may have been misinformed
If virtue signalling is real, humanity has no future

2nd May 2024 at 8:31 pm