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Trudeau’s carbon tax rebrand lipstick on a pig

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From the Canadian Taxpayers Federation

Author: Franco Terrazzano

the Liberals are now calling it the ‘Canada Carbon Rebate.’

The Canadian Taxpayers Federation is criticizing the federal government for rebranding its carbon tax rebate instead of providing relief by scrapping the tax altogether.

“Prime Minister Justin Trudeau’s carbon tax rebrand is just lipstick on a pig,” said Franco Terrazzano, CTF Federal Director. “Canadians need tax relief, not a snappy new slogan that won’t do anything to make life more affordable.”

“The federal government is rebranding the carbon tax rebate,” reported CTV News today. “Previously known as the Climate Action Incentive Payment, the Liberals are now calling it the ‘Canada Carbon Rebate.’

“The change does not come with any adjustments to how the federal fuel charge system and corresponding refund actually works.”

The carbon tax will cost the average family up to $710 this year even after the rebates, according to the Parliamentary Budget Officer.

The federal government is increasing the carbon tax again on April 1. After the hike, the carbon tax will cost 17 cents per litre of gasoline, 21 cents per litre of diesel and 15 cents per cubic metre of natural gas.

“Trudeau’s real problem isn’t that Canadians don’t know what his government is doing, Trudeau’s real problem is that Canadians know his carbon tax is making life more expensive,” Terrazzano said. “Instead of a rebrand, Trudeau should scrap the carbon tax to provide real relief.”

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Trump promises new era of government efficiency with DOGE

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From The Center Square

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Group files suit over DOGE secrecy on Trump’s first day

President Donald Trump promised Americans that their federal government would operate more efficiently with the creation of the Department of Government Efficiency.

“My administration will establish the brand new Department of Government Efficiency,” the 47th president said to applause from Republicans.

Trump’s remarks on DOGE came the same day as a nonprofit group joined a union to file suit over the outside agency, alleging its secret meetings violate federal law.

The complaint, filed by Public Citizen and the American Federation of Government Employees, alleges DOGE violates the Federal Advisory Committee Act because “members do not have a fair balance of viewpoints, meetings are held in secret and without public notice and records and work product are not available to the public.”

“AFGE will not stand idly by as a secretive group of ultra-wealthy individuals with major conflicts of interest attempt to deregulate themselves and give their own companies sweetheart government contracts while firing civil servants and dismantling the institutions designed to serve the American people,” AFGE National President Everett Kelley said in a statement. “This fight is about fairness, accountability, and the integrity of our government.”

Trump spoke about DOGE during his inauguration after making bold promises for the department after winning the 2024 election.

Trump picked Tesla CEO Elon Musk and businessman Vivek Ramaswamy to lead DOGE. Trump said the new group will pave the way for his administration to “dismantle government bureaucracy, slash excess regulation, cut wasteful expenditures and restructure federal agencies.”

Both Musk and Ramaswamy attended Trump’s inauguration Monday. The two men previously outlined their plans for DOGE, which includes reducing regulations that would lead to mass layoffs of federal employees.

“A drastic reduction in federal regulations provides sound industrial logic for mass head-count reductions across the federal bureaucracy,” Musk and Ramaswamy wrote in an op-ed for the Wall Street Journal in November. “DOGE intends to work with embedded appointees in agencies to identify the minimum number of employees required at an agency for it to perform its constitutionally permissible and statutorily mandated functions.”

AFGE, which represents more than 800,000 workers in nearly every federal agency, had previously denounced DOGE. Kelley said it will hollow out the federal government and its workforce.

“By their very nature, cuts of this size also would require slashing spending on our military, homeland security, federal law enforcement, and virtually every aspect of our government operations,” he said. “This kind of financial pressure would lead to painful, widespread reductions in services that will affect Americans from every walk of life.”

Trump has promised to cut “hundreds of billions” in federal spending in 2025 through the reconciliation process. DOGE co-leader Musk initially suggested DOGE could cut $2 trillion in spending. Musk more recently said the group will aim for $2 trillion, but likely come up with half that amount.

Congress controls the purse strings for discretionary spending, which totaled about $1.7 trillion in 2023. Congress generally allocates about half of its discretionary spending to the U.S. Department of Defense.

“The number of federal employees to cut should be at least proportionate to the number of federal regulations that are nullified: Not only are fewer employees required to enforce fewer regulations, but the agency would produce fewer regulations once its scope of authority is properly limited,” Musk and Ramaswamy wrote. “Employees whose positions are eliminated deserve to be treated with respect, and DOGE’s goal is to help support their transition into the private sector. The president can use existing laws to give them incentives for early retirement and to make voluntary severance payments to facilitate a graceful exit.”

Congress has run a deficit every year since 2001. In the past 50 years, the federal government has ended with a fiscal year-end budget surplus four times, most recently in 2001.

Last week, the federal government reported net costs of $7.4 trillion in fiscal year 2024, but it couldn’t fully account for its spending. The U.S. Government Accountability Office, which is Congress’s research arm, said that the federal government must address “serious deficiencies” in federal financial management and correct course on its “unsustainable” long-term fiscal path.

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ESG Is Collapsing And Net Zero Is Going With It

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From the Daily Caller News Foundation

By David Blackmon

The chances of achieving the goal of net-zero by 2050 are basically net zero

Just a few years ago, ESG was all the rage in the banking and investing community as globalist governments in the western world focused on a failing attempt to subsidize an energy transition into reality. The strategy was to try to strangle fossil fuel industries by denying them funding for major projects, with major ESG-focused institutional investors like BlackRock and State Street, and big banks like J.P. Morgan and Goldman Sachs leveraging their control of trillions of dollars in capital to lead the cause.

But a funny thing happened on the way to a green Nirvana: It turned out that the chosen rent-seeking industries — wind, solar and electric vehicles — are not the nifty plug-and-play solutions they had been cracked up to be.

Even worse, the advancement of new technologies and increased mining of cryptocurrencies created enormous new demand for electricity, resulting in heavy new demand for finding new sources of fossil fuels to keep the grid running and people moving around in reliable cars.

In other words, reality butted into the green narrative, collapsing the foundations of the ESG movement. The laws of physics, thermodynamics and unanticipated consequences remain laws, not mere suggestions.

Making matters worse for the ESG giants, Texas and other states passed laws disallowing any of these firms who use ESG principles to discriminate against their important oil, gas and coal industries from investing in massive state-governed funds. BlackRock and others were hit with sanctions by Texas in 2023. More recently, Texas and 10 other states sued Blackrock and other big investment houses for allegedly violating anti-trust laws.

As the foundations of the ESG movement collapse, so are some of the institutions that sprang up around it. The United Nations created one such institution, the “Net Zero Asset Managers Initiative,” whose participants maintain pledges to reach net-zero emissions by 2050 and adhere to detailed plans to reach that goal.

The problem with that is there is now a growing consensus that a) the forced march to a green energy transition isn’t working and worse, that it can’t work, and b) the chances of achieving the goal of net-zero by 2050 are basically net zero. There is also a rising consensus among energy companies of a pressing need to prioritize matters of energy security over nebulous emissions reduction goals that most often constitute poor deployments of capital. Even as the Biden administration has ramped up regulations and subsidies to try to force its transition, big players like ExxonMobil, Chevron, BP, and Shell have all redirected larger percentages of their capital budgets away from investments in carbon reduction projects back into their core oil-and-gas businesses.

The result of this confluence of factors and events has been a recent rush by big U.S. banks and investment houses away from this UN-run alliance. In just the last two weeks, the parade away from net zero was led by major banks like Goldman Sachs, Morgan Stanley, Citigroup, Bank of America, Wells Fargo, and, most recently, JP Morgan. On Thursday, the New York Post reported that both BlackRock and State Street, a pair of investment firms who control trillions of investor dollars (BlackRock alone controls more than $10 trillion) are on the brink of joining the flood away from this increasingly toxic philosophy.

In June, 2023, BlackRock CEO Larry Fink made big news when told an audience at the Aspen Ideas Festival in Aspen, Colorado that he is “ashamed of being part of this [ESG] conversation.” He almost immediately backed away from that comment, restating his dedication to what he called “conscientious capitalism.” The takeaway for most observers was that Fink might stop using the term ESG in his internal and external communications but would keep right on engaging in his discriminatory practices while using a different narrative to talk about it.

But this week’s news about BlackRock and the other big firms feels different. Much has taken place in the energy space over the last 18 months, none of it positive for the energy transition or the net-zero fantasy. Perhaps all these big banks and investment funds are awakening to the reality that it will take far more than devising a new way of talking about the same old nonsense concepts to repair the damage that has already been done to the world’s energy system.

David Blackmon is an energy writer and consultant based in Texas. He spent 40 years in the oil and gas business, where he specialized in public policy and communications.

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