Tuesday, November 9, 2010

CBC News - Money - Energy price spike looms, agency says

About a year ago, world leaders met at Copenhagen to discuss terms for a new climate treaty. The United States and Canada were very vocal in their condemnation of any treaty that would limit CO2 emissions because these regulations would Destroy the Economy. That's when the Pembina Institute, Suzuki foundation and the TD Bank released a major study showing that an improved energy policy could mitigate CO2 emissions and also shift the economy towards a more sustainable footing , while creating high-quality jobs at the same time.

Unfortunately, the Alberta Government, along with the Canada West Foundation and Stephen Harper's federal conservatives attacked the Pembina report in the media. Rather than seriously addressing the issues, they concentrated on how Alberta's economy would suffer under a new policy regime, They sabotaged any possible progress because the "business as usual" case in the economic modeling forecast slightly more growth for Alberta's economy than the regulated case over a twenty year period.

Now we are seeing the other side of the argument. IEA is forecasting an energy price spike that will damage Alberta's economy, along with the rest of the world's economy, far more than the previously proposed regulations. We missed a chance to take the future into our own hands and have allowed short term interests to leave us at the mercy of increasing competition for depleting oil supplies.

How much longer will we wait?

CBC News - Money - Energy price spike looms, agency says

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