The economic benefits of oil and gas in Alberta are well known. The volatility of the boom and bust cycle is also a familiar song and dance in this province. When you take into consideration the environmental impact of the resource, the fossil fuel industry is a double-edged sword. It’s also commonly understood that moving to a renewable future, with less environmental impact, is better for everyone in the long run.
To me, the solution is pretty straight forward: the sooner we move to a renewable long-term energy mix, the better off we will be.
The path forward that I’ve heard from the Alberta business community is that we need a strong fossil fuel industry to support a renewable industry – that we can have oil and gas companies working side by side with renewable energy companies, growing the Canadian energy industry together. Profits from a strong economy can be used to finance our diversification.
During the April 24th press conference, Jason Kenny threw that narrative out the window. He wants Alberta to be a petrol state, full stop.
When Tom Ross from 660 news asked the Premier about working with the US on the Green New Deal, he got quite upset. He made it absolutely clear that he is only interested in fossil fuel jobs.
“Our focus is on getting people back to work in Alberta, not pie in the sky ideological schemes.”
For the UCP, the only good job is an oil job.
The Premier went on to say “That kind of question in the middle of an economic crisis from a Calgary based media outlet, frankly, throws me for a loop”.
What message does that send to the thousands of Albertans who are working in renewable energy?
What about Iron and Earth, the non-profit that is training oil field workers with additional skills so they can work in both fields? What about the students at SAIT, NAIT, the University of Calgary, and the University of Alberta who are in alternative energy courses?
What about the people who are currently working in renewable energy at companies like BluEarth, Eavor, and SkyFire? Do their jobs not count? Are the projects that they operate and profit from “pie in the sky”?
What about the former Prime Minister Stephen Harper and his new role at Terrestrial Energy? Does the work he’s doing to develop nuclear power in Canada qualify as “pie in the sky”?
The main goal of the Green New Deal is “meeting 100 percent of the power demand in the United States through clean, renewable, and zero-emission energy sources”
That’s a completely reasonable goal in my opinion. There is no reason why Canada and Alberta shouldn’t work with the US to help them develop their plan. Unless your goal is to create oil jobs instead of jobs.
There are shovel-ready projects that will put Albertans to work in areas other than oil and gas. Not to mention the potential in this province in areas like software, technology, manufacturing, and engineering services. There are viable solutions being left cold because the UCP is so focused on fossil fuels, they can’t see anything else.
Federal departments failed to spend $38B on promised programs, services last year
By Lee Berthiaume in Ottawa
The federal government failed to spend tens of billions of dollars in the last fiscal year on promised programs and services, including new military equipment, affordable housing and support for veterans.
Federal departments are blaming a variety of factors for letting a record total of $38 billion in funding lapse in 2021-22, including delays and disruptions caused by the COVID-19 pandemic.
They also say much of the money remains available for future years.
The unspent funds also played a big part in the Liberal government posting a smaller-than-expected deficit in the year ending March 31, 2022.
Canada rang up a $90.2 billion deficit — $23.6 billion less than had been projected in the budget.
The unprecedented amount of lapsed funding, much of which has been returned to the federal treasury, has one observer suggesting it is a sign of long-standing challenges delivering on big federal projects for the country.
The amount of lapsed funds across government is spelled out in the most recent iteration of the public accounts, a report on federal revenues and spending by every department and agency tabled in the House of Commons every year.
The $38.2 billion that was reported as lapsed in the last fiscal year marks a new record over the previous year, which was $32.2 billion. That was a dramatic increase over the previous record of $14 billion in 2019-20.
That compares to around $10 billion about a decade ago, when Stephen Harper’s Conservative government was accused by political opponents and experts alike of using large lapses to make cuts by stealth.
Health Canada and the Public Health Agency of Canada reported the largest lapses of all departments and agencies, with nearly $11.2 billion of their combined $28.2 billion budgets going unspent.
Much of that had been set aside for COVID-19 initiatives that were not needed, said Health Canada spokeswoman Tammy Jarbeau. Those include vaccines, personal protective equipment and rapid tests.
“Both Health Canada and the Public Health Agency of Canada have rigorous internal financial management controls designed to prevent, detect and minimize errors and financial losses, and ensure the funding is spent in the best interests of Canadians,” she wrote in an email.
The pandemic figured in the responses and explanations from many other departments and agencies, with many blaming COVID-19 for delays.
One of them was the Defence Department, which reported a lapse of $2.5 billion in the last fiscal year. Much of the money wasn’t spent due to delays in the delivery of new military equipment such as Arctic patrol vessels and upgrades to the Army’s armoured vehicles.
There were also delays on major infrastructure projects for the military, according to Defence Department spokeswoman Jessica Lamirande. Those include upgrading and rebuilding two jetties for the Navy in Esquimalt, B.C., and a new armoury in New Brunswick.
“The COVID-19 pandemic has had a significant impact on many of our business lines,” Lamirande said.
“The impacts of the pandemic on supply chain and industry capacity are causing manufacturing backlogs and delays.”
Lamirande added most of the unspent funds are expected to be available in future years through a process called reprofiling, in which schedules are revised to reflect planned spending in future years due to those delays.
Former parliamentary budget officer Kevin Page said the government’s handling of lapsed funding now is “a little more relaxed” than in previous years, when unspent funds were not reprofiled and even used to justify budget cuts in Ottawa.
But defence analyst David Perry of the Canadian Global Affairs Institute said the Defence Department’s lapse, which has been steadily growing in recent years, is a symptom of Ottawa’s continued difficulties purchasing new military equipment.
“If we’re not getting those procurement projects through, we’re not getting new equipment into the inventory, so we don’t actually have the gear for our troops,” he said, noting many of the delayed projects were launched under the Harper government.
Perry also noted the current rate of inflation, which is already naturally higher for military equipment and the defence sector than most other parts of the economy. Not spending money now means Canada will have to pay more for the same gear and services later, he said.
The Infrastructure Department, the Canadian Mortgage and Housing Corp. and the Fisheries Department, which includes the Canadian Coast Guard, also reported delays with different capital projects, including on affordable housing and broadband internet.
“Due to the unprecedented circumstances over the last few years such as the COVID-19 pandemic, disbursing funds to proponents for many projects are expected to and will take longer,” CMHC spokeswoman Claudie Chabot said in an email.
Perry suggested a bigger problem.
“The government of Canada’s ability to actually deliver services to the public, especially when it comes to large projects, large capital projects, be it for equipment or infrastructure or IT projects, is struggling across the board,” he said.
Other federal entities with large lapses included Indigenous Services Canada, which failed to spend $3.4 billion, and Crown-Indigenous Relations and Northern Affairs Canada, which reported a lapse of $2.2 billion.
Spokesman Vincent Gauthier attributed much of the latter lapse to “the timing and progress of negotiations for specific claims and childhood litigations,” adding that funds will available “in some instances” in future years.
Gauthier did not say why Indigenous Services, which is responsible for delivering federal services to First Nations, Inuit and Métis, failed to spend billions of dollars. He did say most of the money had been reprofiled “so that it will be available when recipients need it.”
Veterans Affairs Canada also reported a nearly $1 billion lapse last year, which the department blamed on fewer ill and injured ex-soldiers applying for assistance than expected.
However, critics have described earlier lapsed funding as evidence of the challenges many veterans face in accessing benefits and services. In 2014, the Royal Canadian Legion demanded the Harper government explain why $1.1 billion went unspent over seven years.
This report by The Canadian Press was first published Jan. 30, 2023.
FTX’s Sam Bankman-Fried, DOJ tussle over his communications
By Michael Liedtke
Federal prosecutors are trying to prohibit FTX founder Sam Bankman-Fried from privately contacting current and former employees of the bankrupt cryptocurrency exchange to prevent potential witness tampering in a criminal case accusing him of bilking investors and customers.
The request, made in a letter filed late Friday by U.S. Justice Department lawyers, prompted an indignant response from Bankman-Fried’s lawyer, who accused prosecutors of twisting the facts to cast the FTX founder in a sinister light ahead of his trial scheduled later this year.
The testy exchange prompted U.S. District Judge Lewis Kaplan in New York to issue a Saturday order that included admonishment for the opposing lawyers in the case to refrain from “pejorative characterizations” of each other’s actions and motives.
Bankman-Fried, 30, has been under confinement at his parents’ home in Palo Alto, California, since pleading not guilty earlier this month to charges against him. He is accused of diverting massive sums of FTX customer funds to buy property, donate to politicians and finance risky trades at Alameda Research, his cryptocurrency hedge fund trading firm.
Federal prosecutors raised their concerns about Bankman-Fried’s attempts to connect with potential witnesses in the case after discovering he sent an encrypted message over the Signal texting app on Jan. 15 to the general counsel of FTX US, according to their letter to Kaplan.
“I would really love to reconnect and see if there’s a way for us to have a constructive relationship, use each other as resources when possible, or at least vet things with each other,” Bankman-Fried wrote to the FTX general counsel, dubbed “Witness 1,” in the prosecutors’ letter.
Federal prosecutors told Kaplan that Bankman-Fried’s communications are a sign that he may be trying in influence a witness with incriminating evidence against him. As a safeguard, the prosecutors want Kaplan to revise the conditions of Bankman-Fried’s bail so he can’t communicate with current or former employees of FTX and Alameda Research outside the presence of a lawyer without a waiver from the Justice Department.
But Bankman-Fried’s attorney, Mark Cohen, painted a much different picture in his fiery retort to the prosecutors. Cohen described Bankman-Fried’s effort to reach the FTX general counsel as “an innocuous attempt to offer assistance in FTX’s bankruptcy process.”
In his Saturday order, Kaplan demanded complete copies of Bankman-Fried’s electronic communications to be provided by Monday.
Federal prosecutors also want Kaplan to change the conditions of Bankman-Fried’s bail to prevent him from communicating through Signal, which has an auto-delete option to make messages quickly disappear in addition encryption technology to help shield the contents from outsiders.
“Using Signal to contact potential witnesses increases the likelihood that detection of any attempt to obstruct justice by influencing a witness will itself be obstructed,” the prosecutors told Kaplan.
But Cohen wrote that the message sent to the FTX general counsel didn’t have an auto-delete feature. Cohen also assured the judge that Bankman-Fried has turned off the disappearing messages option in his Signal account.
“The government cannot justify a bail condition based on an unfounded concern about what Mr. Bankman-Fried might do, when there is no evidence that he is, in fact, doing it,” Cohen said.
Before prosecutors asked the judge to impose broad restrictions that would prevent Bankman-Fried from privately communicating with any current or former FTX employees, Cohen said the two sides had already been in negotiations to reach a “reasonable” compromise before prosecutors “sandbagged” the talks with their late Friday letter to Kaplan.
By Cohen’s estimate, FTX and Alameda Research have about 350 current and former employees who would be blocked off from Bankman-Fried by a blanket ban, including some that might have crucial information for his defense during a trial tentatively scheduled to begin in October.
Bankman-Fried was willing to voluntarily agree to a prohibition against him communicating with several top FTX executives in exchange for being allowed to remain in contact with others such as his father, his therapist still employed by the cryptocurrency exchange and a range of other unidentified workers who directly reach out to him.
Kaplan told federal prosecutors to respond to Cohen’s claims in his seven-page letter by Monday.
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