As oil prices rise, global economic uncertainty grows

And OPEC is in no mood to open taps to fill in any gaps created by the absence of Russian crude

As oil prices rise, global economic uncertainty growsThe oil markets are likely to face another round of supply disruptions. Most indicators point to a bullish trend in the near future. After recently announcing the release of over 180 million barrels of crude oil from its strategic reserves (SPR) over the next six months to cool down the markets, the United States government…

Why we can’t unscramble the egg of global trade

Self-sufficiency and even reduced trade will lead to a much lower standard of living

Why we can’t unscramble the egg of global tradeThree major factors are drastically changing the world: climate change, the pandemic and, most recently, the war in Ukraine. Much of the conventional wisdom that we learned in school and that still governs many political decisions seems no longer to apply. COVID-19, climate change and attempted conquests appear to give more credence to the often…

Trudeau’s spending spree hitting Canadians families hard

The federal debt is now over $1.26 trillion!

Trudeau’s spending spree hitting Canadians families hardBy Gabriele Giguère and Olivier Rancourt Montreal Economic Institute The Bank of Canada’s decision to increase the policy interest rate by 0.5 percentage points, up to one per cent, was necessary in the current context. The soaring inflation that is hitting the Canadian economy full force, reaching 5.7 per cent in February, must be reined…

Putin’s War puts global food security in jeopardy

The pandemic was just a dress rehearsal for what’s about to happen

Putin’s War puts global food security in jeopardyUnited States President Joe Biden was the first G7 leader to admit publicly that many parts of the world will soon experience food shortages and even famine. The world will be short of many commodities. Regions like the Middle East and northeastern Africa already have dangerously low food inventories. The world will soon discover that…

Energy transition won’t be easy, especially in Canada

Bold vision without a solid grasp of the facts amounts to hallucination

Energy transition won’t be easy, especially in CanadaThe holy grail of “net-zero” is electrification. Over time, this solution to the problem of global climate change envisions that today’s fossil fuel-centric energy system will transition to one run by water, wind, solar, biofuels, hydrogen, nuclear, and – maybe eventually – fusion. In many countries, eliminating fossil fuels in the electric sector is the…

Thanks to government, housing and energy are becoming luxuries

Much of the blame for sky-high housing and energy prices is on governments

Thanks to government, housing and energy are becoming luxuriesIn a country like ours, with its vast expanses and abundant natural resources, housing and energy should be cheap. Yet over the past two decades, housing prices have shot up much faster than the growth in incomes, and now energy prices are doing the same. In both cases, much of the blame is on government.…

To fight inflation, bank rate hike must happen in March

It’s time to tackle the inflation that is undermining our living standards

To fight inflation, bank rate hike must happen in MarchBy Miguel Ouellette and Olivier Rancourt Montreal Economic Institute Despite the recommendations of many economists to raise the target for the overnight rate, the Bank of Canada has decided to maintain the status quo – at least for now. Like these experts, we believe that the central bank must begin gradually raising rates at its…

Carbon tax woes fall on deaf ears in Ottawa

And the Conservatives are giving the government a free pass

Carbon tax woes fall on deaf ears in OttawaIt’s bone-chilling cold, carbon tax costs are rising and politicians don’t seem to give a flying fox foot about it. Prime Minister Justin Trudeau is the biggest carbon tax cheerleader in North America and the Conservative Leader Erin O’Toole has grabbed the pom-poms, too. Toronto and Ottawa just got a huge dump of snow, and…

Ontario Premier has stalled long enough on gas tax relief promise

Cut the gas excise tax and deliver meaningful savings to everyday Ontario families

Ontario Premier has stalled long enough on gas tax relief promiseThe countdown is on to get a gas tax cut in the province of Ontario. Late last year, Ontario Premier Doug Ford said he would keep his promise to cut the provincial gas excise tax by 5.7 cents per litre, nearly four years after he first made the commitment to Ontario voters. After years of…

Exploiting workers is a dark and lonely path to wealth

Many powerful people have become rich by exploiting workers

Exploiting workers is a dark and lonely path to wealthMany people seem to have forgotten a basic principle of life. Broadcaster and writer Earl Nightingale called it “the law of mutual exchange.” He explained further: “We’ve got to be of service before we can expect money.” Many powerful people over the last several centuries have acted as though this principle didn’t apply to them.…
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