OTTAWA (LifeSiteNews) – The Bank of Canada admitted that Prime Minister Justin Trudeau’s federal “climate change” programs that have been deemed “extreme” by some provincial leaders are indeed helping to fuel inflation.
As Blacklock’s Reporter noted, researchers from the bank admitted that Trudeau’s green energy schemes such as the carbon tax that have been pushed on Canadians for the past few years do indeed “raise costs” for consumers.
According to a Bank of Canada report titled The 2021-22 Surge in Inflation, the slowest but most “persistent” trend is “associated with the ongoing transition from fossil fuels to green energy.”
“The transition requires an immense reallocation of investments which raises costs due to higher demand for new investment and lack of investment supply into fossil fuel production,” the report stated.
The report noted that the costs associated with green energy programs are “exacerbated by the long time required to build green energy infrastructure, further boosting prices for fossil fuels.”
The G20 comprises the most powerful nations in the world - the U.S., Canada, the U.K., the E.U., Australia, India, China, Russia and Brazil among others - and they are discussing climate policies that are already affecting billions of people around the world.
Most of these countries want the world to run on solar and wind power, forcing an end to the use of gas, oil and nuclear power, as well as crushing beef farmers because of supposed methane emissions.
But the harsh impact of such policies is already being felt, with energy blackouts and soaring inflation hammering people around the world, making it beyond time for all of us to speak out.
SIGN: Tell G20 leaders that their radical climate policies are making basic foods, fuel, heating and electricity increasingly unaffordable for normal citizens.
As western leaders turn off the oil spigots and impose draconian restrictions on farmers, we've all experienced the pain of increased prices, not least at the pump and the grocery store.
This inflation was entirely avoidable if only our politicians prioritized food and energy security over climate theories, but instead they have succumbed to radical environmentalists whose agenda would cripple the livelihoods and living standards of much of the globe.
Communities all around you are feeling the weight of crushing price hikes, which will soon reach your own food isles and gas pumps if it hasn't already.
The effects of inflation are being felt in the developing world most, as fuel and food prices sky rocket, making even worse poverty an inevitabilty for hundreds of millions of people.
Reality hits home.
The harshest effects of energy shortages were felt by many in the west last winter, when our leaders' decisions to cut oil supplies and reject Russian natural gas:
- forced heating, fuel and electricity prices to sky rocket
- continued to make food more expensive
- risked a global depression as inflation spiraled out of control
- prompted blackouts in certain areas
- made civil unrest a real possibility
States like California and countries like England were warning citizens that they faced severe electricity and gas shortages.
Now is the time to speak out and be part of a movement that can halt this runaway train of climate alarmism.
SIGN the petition calling on international leaders to abandon their reckless energy agenda and return the world to economic stability.
The entire climate change industry is based on models that have been consistently inaccurate for decades, with Al Gore among the most infamous prophets of doom to be proven wrong.
In 2009 Gore told the COP15 climate change conference in Copenhagen that the North Pole would be ice-free by 2014, a claim that remains wildly off the mark.
Arctic sea ice has increased since 2012 and is now close to the average for 1991-2000 – another inconvenient fact for climate change alarmists, alongside thriving polar bears and more coral on the Great Barrier Reef. https://t.co/3m7jcaj1hV— Toby Young (@toadmeister) September 1, 2022
Al Gore is not alone in getting things wrong however, as this brief timeline of scaremongering headlines proves:
The world needs to wake-up to what's really happening: our lives are being upended on the basis of climate theories and models that have been consistently wrong for decades.
It's time to stop the scaremongering and push back against the radical agenda of international elites.
SIGN & SHARE: Tell G20 leaders that their radical climate policies are making basic foods, fuel, heating and electricity increasingly unaffordable for normal citizens.
It concludes that the shift to “relatively higher energy prices” will contribute to “challenges for monetary policy to keep inflation on target over the long term.”
The Bank of Canada report did not go into specifics over how much Trudeau’s climate change programs have and will potentially impact Canada’s Consumer Price Index.
The Trudeau government itself even has not disclosed how much its green agenda, which advocates for an end to cheap oil and gas products for consumers such as gasoline, diesel, and natural gas.
However, last June, Liberal MP Ryan Turnbull said in a House of Commons debate that going to “net zero” was not going to be “easy.”
“We are going to have to switch our lifestyles and that is going to be painful at times,” Turnbull said.
Since becoming prime minister in 2015, Trudeau has pushed a radical “climate change” agenda that has increased costs for many products, primarily due to his imposition of a punitive and ever-increasing “carbon tax” on gas and diesel.
The raising of fuel-related taxes has come in conjunction with the Trudeau government’s decision to join a variety of global initiatives, including the United Nations’ “2030 Agenda for Sustainable Development,” which involves phasing out or reducing the use of coal-fired power plants, nitrogen-rich fertilizers and natural gas.
As for the Trudeau government, Natural Resources Minister Jonathan Wilkinson announced the “Just Transition” green energy plan three weeks ago.
The so-called “Just Transition” legislation will be designed to coerce workers in the oil and gas sector to transition into “green” jobs.
The “Just Transition” has been blasted by Alberta Premier Danielle Smith, who said last week that Trudeau’s green agenda is really about “radically restructuring” society.
The Trudeau Liberals’ “Just Transition” plan could impact and threaten the jobs of some 2.7 million Canadians.
At this year’s World Economic Forum meeting in Davos, Switzerland, which Trudeau’s Deputy Prime Minister and Finance Minister Chrystia Freeland attended, the Canadian government announced it will join the global “First Movers” climate coalition, a WEF-linked initiative started by U.S. President Joe Biden.
Trudeau’s “Just Transition” comes at a time of high inflation, which seemingly will not get better anytime soon, according to officials.
The Bank of Canada last week raised interest rates for an eighth time in a row in response to high inflation spurred by massive federal government spending.
The head of the Bank of Canada painted a grim picture for 2023, warning Canadians the coming economic turmoil will not “feel good.”
While the Trudeau government claims the “science” is settled on the matter of manmade climate change, many scientists feel otherwise.
A June 2017 peer-reviewed study by two scientists and a veteran statistician confirmed that most of the recent global warming data have been “fabricated by climate scientists to make it look more frightening.”