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The reason is that in times of recession people have less money to spend on goods and services, which means less fossil fuel is needed to produce them.
That’s why emissions drop during recessions and start rising again as the economy recovers.
This happened in 2008-09, when Canada’s issuance fell 6% in one year due to the global recession that began with the subprime mortgage derivatives crisis in the United States.
This 6% drop in one year, before emissions started to rise again, compares to Canada’s overall record where, since 2005, we have only reduced our annual emissions by 2%, compared to the 17% drop. by 2020 that Trudeau had promised.
In 2017, the latest year for which Canadian statistics are available, emissions increased by 1%.
But apparently Trudeau and Freeland have a magical way to replace Canada’s traditional energy sources with inefficient and expensive green power, while providing Canadians with the massive amounts of energy we will need to pull ourselves out of the COVID recession. -19.
Since this is the case, Trudeau and Freeland shouldn’t hide their light under a bushel.
They should tell us how they plan to accomplish this magnificent achievement in the Speech from the Throne after Parliament reopens, which was closed by Trudeau on September 23.
It will be an interesting speech to hear, to say the least.