
By clicking on the above thumbnail, it becomes evident how investors feel about Trudeau.
The Liberals and NDP continue to live in a fantasy land. With soaring interest rates, high energy prices, a weak currency, a healthcare and military in shambles, and wasteful spending, Trudeau has announced he intends to make things worse by increasing the federal debt. He is also going to increase the useless carbon tax even though carbon dioxide emissions have increased every year since the tax was imposed. This is a policy that has been, and will continue to be, a 100% failure. It is designed to hurt the average family, not save the planet.
Ottawa does not care about its finances. The only thing keeping the Loonie at current levels is our energy sector, and Trudeau wants it closed by 2035 even though it is Canada’s biggest tax and job creator. Around the world countries are ditching green policies and opening more fossil fuel energy plants. Canada is the only country marching in the opposite direction.
It becomes clearer everyday that Trudeau loves dictators because they are one person governments, something that he is on camera saying he admires. In attempt to be one, he makes sure his Liberal members are allowed to say or think only what he tells them to. Even though we have enough fossil fuels for ourselves and others, he prefers to give Saudi Arabia more money each year for theirs.
Justin also wants to help his idol Xi Jinping by relying on him for Made in China solar panels and EV batteries. The country has cornered the market for lithium, the heart of the electric batteries. The mineral is trading at its all time high, up 192% from a year ago. Canada has the potential of opening a handful of lithium mines, but investors do not want to waste their time. Thanks to Trudeau’s useless environmental policies, it can take upwards of ten years just to get the permits to build.
No doubt the provincial and Federal governments will throw billions of dollars at the building of batteries because without it there would be fewer buyers of EVs due to pre-subsidy pricing. The number of handouts is already so high that the Ontario and Quebec governments announced they will not tell us how much free money these manufactures will receive.
Let’s hope the Liberals and NDP wake up one day before their term is up and do what is best for Canada. We doubt it though. We need educated people in Ottawa, not the freeloaders we have today. Every proposal Ottawa makes under the guise of so-called Climate Change has done nothing for lowering emissions or the demand for oil. This will not change for at least a decade, even under a green economy. In a recent issue of Forbes magazine one sentence stood out: “Electricity prices in fact, have tended to be highest in places with the greatest share of renewable energy”.
Energy prices are set to go higher this winter and will stay high for the next 18 months. Ninety percent (our estimate) of the coming increases will be due to Ottawa’s foolishness while remaining ten will be due to market forces. This is the cost we must pay because we do not support our own resources. Canada could easily have a ‘Made in Canada’ price, but Trudeau chooses to support unethical governments rather than Canadians. Prepare your finances for higher energy prices. You know who to thank.
Energy shares over the next year will be one of the best to buy and hold. We expect lots of dividend increases. The closer we get to an election the better our resource sector will perform. Foreign investors hate Trudeau and are waiting for him to leave before they return their funds to what should be one of the most prosperous nations on earth. It is time for Trudeau and his followers to decide whether they want to continue to support countries like China and Saudi Arabia, the unelected Greens, or finally do something positive for Canada.
