The consequences of either candidate’s policy stance will have a huge impact on Canada
With a US$400 billion R&D investment in clean technologies over 10 years, Biden intends to create “10 million good-paying, middle class union jobs.” He also promised to enact legislation “requiring polluters to bear the full cost of their climate pollution” — possibly as a way to avoid a comprehensive carbon tax.Article content continued
U.S. energy development is also a key element of Trump’s foreign policy. He helped broker a deal between Saudi Arabia and Russia to end their vicious price war, thereby stabilizing the price of oil at around US$40 per barrel. U.S. sanctions against Iran reduced that country’s production by two million barrels per day, enabling U.S. shale oil to capture a more significant share of the export market at the expense of the OPEC cartel.
California’s extensive plans for solar development ran into a problem that has long thwarted fossil fuel development — threats to wildlife. Wind farms have been labelled as “California’s Cuisinarts,” due to the damage they cause to birds. Some industry leaders accept the goal of zero carbon emissions by 2050 and are investing heavily in technologies that will get them there. Yet ardent environmentalists have zero tolerance for fossil fuels or pipelines. They hold their spears close to their chests and have little appetite for compromise.
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