Canada has never had a government so vehemently opposed to our national interests
This column has often lamented the decline of Canada’s competitive status as an economic and geopolitical power, and particularly our descent down the ladder of the world’s nations in per capita income. Everything that could be done in this very fortunate country to make our nation less prosperous and less influential in the world is being done. Capital leaving Canada that was generated in this country has exceeded investment capital entering from outside by $285 billion in the last nine years. The world is clawing at our door to buy our oil and natural gas but the present government, while inciting every conceivable pretext for refusing or harassing the construction of pipelines to get our oil and gas to world markets, has clamped its lips around the gas-pipe of climate alarmism.
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The climate is slowly changing, but Canada’s contribution to the world’s fossil fuel use is approximately 1.5 per cent and nothing we do will be of the slightest significance to the world. Large emitters like China, India and Russia will not allow the ecological nostrums of the West, which they regard as the mere hypocrisy of fully developed economies, to deter them from developing their own economies as swiftly as possible.
In addition, as eminent financiers Frank Giustra and Pierre Lassonde pointed out in a well-reasoned piece in the Globe and Mail on Monday, China is buying up as much as it can of the strategic resources that would be instrumental in any western drive to reduce our economic dependence upon coal, oil and natural gas. They make the point that in the last 20 years, Canada has lost Alcan, Falconbridge, Inco and Noranda to foreign buyers and has not remotely attracted the investment necessary to expand the development of resources necessary for renewable energy, such as cobalt, copper, rare-earth........