RE:A suggestion for a better soltuion Blowhard Obscure1...
All just my opinion/view/thinking
Obscure1 wrote: The world is steam rolling towards a recession that central banks believe is necessary to shut down inflation.
The inflation was created by horrible short term thinking and actions from politicians that created shortages and killed off investments in hydrocarbons.
A combination of a decade of artifiially low interest rates, tragically bad decisions in response to covid, and the Euro driven panic to exit hydrocarbons has left the economy of the world in shambles.
That is how we got here.
The only rational thing to do is to figure out a pathway to extricate the world from this mess.
Crashing economies by driving up interest rates to bring down oil prices isn't going to work for a very long time and the costs will massively outweight the benefits.
What needs to be done is to find a way to slow down and then reverse the price of oil without throwing out the baby with the bath water.
It drives me crazy when I see people whine and complain about things without offering up a possible solution.
For North America, there is a solution because we have a rich bounty of resources in both energy and food.
Much like the pre-flight instructions on an airplane where you put your own mask on first before helping the person beside you, we have to start the healing by helping stabilize things here in North America first.
How do we do that?
America has to start treating Canada like a partner instead of crapping on us at every turn.
America needs to reach out to Canada agree to buy all the oil that we can produce for the next 20 years at a price that encourages Canada to rapidly build up our production numbers. America needs to encourage the construction of pipelines to move Canadian oil to the US
Canada needs to encourage our oil E&P industry rather than crapping on it. We also need to tie incentives to CCUS objectives as the technology is available. The amount of tax revenue and job creation should easily provide funding for technology advances. Canada also needs to resist the urge to make as much as we can as fast as we can for as long as we can on exporting oil to the US in exchange for guaranteed long term contracts that will encourage E&P and pipeline development to facility demand until affordable renewable alternatives can be put in place.
I don't know if America can play fair. It has certainly never done so in the past.
I don't know if Canadian politicians can stop being pussies. That isn't going to happen as long as the clown that is currently in place remains in power. We as citizens need to speak up and let it be known that we need prioritize "fixing this" over the petty ego driven games that distract us.
To stop inflation, we need to lower oil prices and secure supply.
Once Canada and the US have collectively secured their oxygen masks, we can then reach out to help our neighbours.