More Bang For Our Buck, And It Isn’t Investment In The Oil Industry

New-Economy

By André Faust

“The race for renewable energy has passed a turning point. The world is now adding more capacity for renewable power each year than coal, natural gas, and oil combined. And there’s no going back.” – BlommbergBusiness

Stephen Harper is missing the boat on investing on developing renewable energy. Instead, it appears that he is placing all of his eggs on one basket by supporting Oil production (fossil fuel) as the primary industry to boast the Canadian economy.

The fossil fuel economy has become a volatile industry with world prices dropping resulting in mass layoffs for Alberta’s Oil dependent sector.

To paraphrase Charles Darwin, “Those species that are so specialized, will get selected out because they will not be able to adapt to a changing environment”. The same can be said about the energy industry, if they do not adapt to the changing times then that industry will be selected out.

Even Canada’s two biggest pipeline companies Enbridge and TransCanada are getting into renewable because they know that eventually the oil industry will a diminished energy player so they are developing a contingent plan to be ready for that day. Enbridge is currently the second-largest wind energy generator in Canada.

If Harper wants to hold on to bear skins and bones technology, he will hold Canada back from developing a sustaining economy, which will create thousands of jobs.

Blue Green Canada is an alliance between Canadian labour unions, environmental and civil society organizations to advocate for working people and the environment have published in 2012 a report title “More Bang of our Buck” that supports the future of investing in renewable energy.

This report shows that investments in efforts to reduce pollution create more jobs than comparable investments in fossil fuels. Analysis presented in this report shows 6-8 times more jobs could be created by investments in renewable energy, energy efficiency or public transit compared with similar investments in the oil and gas industry.- BlueGreen


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