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GOLDSTEIN: Wishful thinking by the Liberals damaged our economy

It started in 2002 when then-PM Jean Chretien ratified the Kyoto accord

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When it comes to energy policy, Canada is under duress from two decades of Liberal governments that — to reverse the popular phrase from Prime Minister Mark Carney’s Davos speech — treated the world “as they wished it to be, not as it is.”

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The Liberals wished for the world to run on wind, solar power and biomass, while in the real world it runs on oil, natural gas and coal.

GOLDSTEIN: Wishful thinking by the Liberals damaged our economy Back to video

It started in 2002 when then-PM Jean Chretien ratified the Kyoto accord on reducing greenhouse gas emissions — imposing aspirational targets on our economy the Liberals knew they couldn’t meet under a policy so injurious to the oil and gas sector, that even the U.S., under then-president Bill Clinton and global warming guru/vice-president Al Gore, failed to follow suit.

That was because the U.S. Senate voted 95-0 to reject Kyoto until it imposed the same demands on China as it did on the U.S.

Former prime minister Justin Trudeau and U.S. president Barack Obama may have shared a “bromance,” but while Trudeau was babbling about phasing out the oil sands — subsequently claiming he misspoke — Obama was boasting about adding “enough new oil and gas pipeline to encircle the Earth and then some” in the U.S.

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Except for the Keystone XL pipeline, which Obama hypocritically killed after seven years of dithering, after it was green-lit by Obama’s own state department.

No U.S. president, Democrat or Republican, has ever imposed a national consumer carbon tax on Americans that Trudeau imposed on Canadians in 2019 — part of a failed $200-billion climate policy that even Prime Minister Mark Carney — an advocate of carbon taxes — had to abandon.

Today, our federal government, having earmarked up to $31.4 billion subsidizing Canada’s struggling electric vehicle sector — with another $21.1 billion coming from the provinces — is confronting the reality of U.S. President Donald Trump scrapping former president Joe Biden’s subsidies for the EV sector in the U.S.

It was Biden’s subsidies under his bizarrely named Inflation Reduction Act, since it mandated massive new government spending, that prompted the Trudeau government to massively subsidize Canada’s EV sector, now producing cars that consumers will only by if they get more government subsidies, defraying the cost.

As for the memorandum of understanding between Prime Minister Mark Carney and Alberta Premier Danielle Smith to build a new oil pipeline to Canada’s west coast and from there to Asian markets, it’s a step forward, but making it a reality means overcoming a decade of anti-growth policies by the Trudeau government.

As Enbridge CEO Greg Ebel responded recently when asked by Bloomberg TV whether he was giving a “hard no” on helping to build a new oil pipeline from Alberta to the B.C. coast:.

“What I would say is that the conditions don’t yet exist for that pipeline to be built. There’s a tanker ban off the west coast. We don’t yet have a pipeline that’s permitted. We don’t yet have the ability to produce enough oil to fill that pipeline. All of that is tied up in the MOU and discussions between the Alberta government and the federal government in Canada and when they come to a solution on emissions issues and the industrial carbon tax, CO2 lines, that will determine whether our producers, my customers, get the green light to produce … because my investors aren’t going to make an investment on a hope and a prayer.”

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