Is Jason Kenney Ready to Bet Albertan Pensions on Failing Fossil Fuel Firms? | The Tyee: As part of the Fair Deal Panel that Jason Kenney announced on Nov. 9 to “advance our vital economic interests,” the repatriation of nearly $40 billion in Canada Pension Plan assets will be explored. Those assets would also be handed over to AIMCo, and they could be an irresistible target for an oil and gas industry that is struggling to attract investment — and a government that clearly wants to help it do just that.

Kenney has clearly signalled his willingness to increase public financing for private oil and gas companies on a vastly larger scale. Last April he committed $7.5 billion in provincial funds to completing the Keystone XL pipeline because TC Energy could not access private equity for the contentious project, a move he boasted was “a solid bet.” International finance experts disagreed, calling the investment an “idiotic waste.”

TC Energy stock has dropped 16 per cent since Alberta pensioners became majority owners in what could be a money-losing climate killer.

Is Jason Kenney Ready to Bet Albertan Pensions on Failing Fossil Fuel Firms? | The Tyee: As part of the Fair Deal Panel that Jason Kenney announced on Nov. 9 to “advance our vital economic interests,” the repatriation of nearly $40 billion in Canada Pension Plan assets will be explored. Those assets would also be handed over to AIMCo, and they could be an irresistible target for an oil and gas industry that is struggling to attract investment — and a government that clearly wants to help it do just that. Kenney has clearly signalled his willingness to increase public financing for private oil and gas companies on a vastly larger scale. Last April he committed $7.5 billion in provincial funds to completing the Keystone XL pipeline because TC Energy could not access private equity for the contentious project, a move he boasted was “a solid bet.” International finance experts disagreed, calling the investment an “idiotic waste.”TC Energy stock has dropped 16 per cent since Alberta pensioners became majority owners in what could be a money-losing climate killer.Read More

‘Jaw-dropping’ world fertility rate crash expected: The world is ill-prepared for the
global crash in children being born which is set to have a
“jaw-dropping” impact on societies, say researchers.

Falling fertility rates mean nearly every country could have shrinking populations by the end of the century.

And 23 nations – including Spain and Japan – are expected to see their populations halve by 2100.

Countries will also age dramatically, with as many people turning 80 as there are being born.

What is going on?

‘Jaw-dropping’ world fertility rate crash expected: The world is ill-prepared for the
global crash in children being born which is set to have a
“jaw-dropping” impact on societies, say researchers. Falling fertility rates mean nearly every country could have shrinking populations by the end of the century. And 23 nations – including Spain and Japan – are expected to see their populations halve by 2100.Countries will also age dramatically, with as many people turning 80 as there are being born. What is going on?Read More

Biden’s $2-Trillion Plan Points to Climate as Key Draw for Younger, First-Time Voters – The Energy Mix: The plan “would significantly reduce the United States’ reliance on fossil fuels, and the 15-year timeline for a 100% clean electricity standard is far more ambitious than anything Biden has previously proposed,” the Washington Post writes. “The blueprint was quickly hailed by environmentalists and liberals as a big step forward in the climate effort, and just as quickly denounced by Republicans as an unwieldy plan that would raise energy costs.”

Biden is proposing to create a million jobs over four years by upgrading four million buildings and insulating two million homes, the Post says. The plan envisions cash rebates to help homeowners install energy-efficient windows and appliances and replace older cars with newer, more fuel-efficient models.

Biden’s $2-Trillion Plan Points to Climate as Key Draw for Younger, First-Time Voters – The Energy Mix: The plan “would significantly reduce the United States’ reliance on fossil fuels, and the 15-year timeline for a 100% clean electricity standard is far more ambitious than anything Biden has previously proposed,” the Washington Post writes. “The blueprint was quickly hailed by environmentalists and liberals as a big step forward in the climate effort, and just as quickly denounced by Republicans as an unwieldy plan that would raise energy costs.”Biden is proposing to create a million jobs over four years by upgrading four million buildings and insulating two million homes, the Post says. The plan envisions cash rebates to help homeowners install energy-efficient windows and appliances and replace older cars with newer, more fuel-efficient models.Read More

Ontario’s recovery plan may help developers but it won’t help you – Environmental Defence:

The plan includes proposed changes to the Environmental Assessment Act which will weaken or entirely remove this important step to protect our land, water, air and health for many infrastructure projects like new highways or public transit lines. If passed, the changes would mean projects only need an environmental assessment if the government decides it’s necessary. The current law applies to most public sector projects by default.

“To ensure that these proposed changes can be implemented expeditiously to support recovery efforts, the proposed amendments include a provision making them not subject to the minimum 30-day posting requirement under the Environmental Bill of Rights.”

Ontario’s recovery plan may help developers but it won’t help you – Environmental Defence: The plan includes proposed changes to the Environmental Assessment Act which will weaken or entirely remove this important step to protect our land, water, air and health for many infrastructure projects like new highways or public transit lines. If passed, the changes would mean projects only need an environmental assessment if the government decides it’s necessary. The current law applies to most public sector projects by default. “To ensure that these proposed changes can be implemented expeditiously to support recovery efforts, the proposed amendments include a provision making them not subject to the minimum 30-day posting requirement under the Environmental Bill of Rights.”Read More

Canada’s Economy In For 10 Years Of Hardship: Capital Economics: Canada’s economy will grow at a reduced rate for the next 10 years because high household and business debt levels will act as a drag on the recovery from COVID-19, a new report says.

The report from U.K.-based Capital Economics predicts the economy will end the year 6.3 per cent smaller than before the pandemic, and will recover most ― but not all ― of that next year.

It also sees the country ending the year with 6.2 per cent fewer jobs, despite the wave of rehiring being seen right now as provinces lift their lockdown orders.

Canada’s Economy In For 10 Years Of Hardship: Capital Economics: Canada’s economy will grow at a reduced rate for the next 10 years because high household and business debt levels will act as a drag on the recovery from COVID-19, a new report says.The report from U.K.-based Capital Economics predicts the economy will end the year 6.3 per cent smaller than before the pandemic, and will recover most ― but not all ― of that next year.It also sees the country ending the year with 6.2 per cent fewer jobs, despite the wave of rehiring being seen right now as provinces lift their lockdown orders.Read More