Guilbeault sounded as if he was trying to mollify the investment community, as did Chrystia Freeland when she spoke with the Canadian Chamber of Commerce this…
Earlier in the week, it sounded very much as if Guilbeault intends to impose tough new emissions rules without any consultation with the province or industry.
This is encouraging and suggests that the model established by the Notley government to bring in its Climate Leadership Plan in 2015 will be followed by the federal government. But the Notley model suggests an acceptable plan needs broad consultation with companies, environmental organizations, the public and Indigenous peoples; it needs imaginative solutions to displace coal and oil with less polluting options like natural gas; and compensation programs to retrain workers affected by government policies.
Even more sobering for the government may be the realization that the Bank of Canada’s decision to end its bond-buying program, which has soaked up 70 per cent of Government of Canada bond issues over the course of the pandemic, means this country can ill afford to hobble its biggest export earning industry.
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