Rising Energy Costs Show Naïve Virtue Signaling Has A Serious Price

DM

It’s easy to go along with the trendy viewpoints when it seems like ‘others’ will deal with the cost. Now, that cost is going to hit all of us. Gas prices are up. Home heating costs are up with colder temperatures approaching. You would think that a nation like Canada would be spared much of the impact, given our gargantuan energy reserves. Think again. Governments around the planet are in effect squeezing their citizens from three sides. First, massive money printing has devalued currencies, leading to inflation. Second, continued lockdowns and restrictions have devastated supply chains, which combined with inflation means more dollars chasing fewer goods. Third, nations like Canada which have embraced carbon taxes and have hamstrung their energy sector find themselves in a weakened position at the worst possible time. Dan McTeague explained it well on Twitter: “The financial implications for Canadians has not quite sunken in. Record costs for everything is the new reality of two threats to the high living standard Cdns have taken for granted: long term economic and social damage wrought by Covid and a mad rush to transition to Net Zero.”

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