Centre for Future Work (Canada)

Crude oil prices are down $14/b (20%) in the last week. Apart from acute embarrassment for Danielle Smith (who called Trump's tariffs last week a "big win for Alberta & Canada"), there's an important lesson to be learned here about how crude oil futures markets work. #cdnecon /2

Affordability is a big issue in this election. But let's be clear about where the problem came from. Higher fossil fuel prices (driven by speculation, not a 'supply shock') were the biggest single cause of the post-COVID surge in inflation. Full report: falseprofits.ca/reports

Who profited from high fossil fuel prices? From 2022–24 oil & gas companies made $151 billion in extra profit, while the avg Canadian household lost $12K due to higher prices for everything, higher interest payments & lost employment income. Get the facts: falseprofits.ca

It's time, yes 👇 ... to both expose this and to question and re-evaluate our reliance. There's so very many jobs needed when we chart our course mostly away from fossil fuels.

Our Centre for Future Work @futurework_cda has released a new report today adding up the huge (& continuing) costs to Canadians of the 2022 spike in oil prices. Check it out, it's part of our new 'False Profits' project: falseprofits.ca/reports. #cdnecon #canlab /2

Here is comprehensive coverage of the report by @nbawaan for @TorontoStar: thestar.com/business/study…

Our first report: "Counting the Costs" by Jim Stanford and Erin Weir. Adds up how the 2022 oil spike was the biggest single factor driving post-pandemic inflation. $200 billion in direct & indirect price effects, higher interest charges, and lost wages. centreforfuturework.ca/wp-content/upl… /3

📢 LAUNCHING TODAY: False Profits The oil & gas industry claims it makes life more affordable. The truth? Fossil fuel prices drove up inflation & undermined affordability. It's time to expose the real impacts of fossil fuels on our pocketbooks. falseprofits.ca /2

These videos help inoculate against arguments that all of Canada's problems stem from taxes, deficits, or 'Justinflation'. Both Trump, and his imitators in Canada, would make things worse for Canadian living standards. See our website for more research: centreforfuturework.ca

"Fighting to Protect our Living Standards": More detail on true cause of post-COVID inflation: record-high corporate profits. Lists 5 key economic measures required to protect & enhance Canadians’ living standards after the past 3 tough years (30 min). youtube.com/watch?v=kzx78e… /5

Our Canadian office has posted 3 new videos to our YouTube channel, featuring Economist & Director @JimboStanford, that are useful resources for campaigners mobilizing to oppose both Donald Trump's annexation threats and our own home-grown right-wing populists. #canlab /2

This is what economic warfare looks like. More threats. The goalposts keep changing. The chaos continues. A promised pause is broken. Let’s be clear. It is workers who are under attack - both American and Canadian workers. #cdnpoli cbc.ca/news/world/tru…

FACT CHECK: 1. US bilat def w Cda was $40b in '23, fell ≈10% in '24 (source: US CensusBur) 2. Def w Cda 10th largest of US partners 3. US exps 92¢ to Cda for every $1 they imp (far more balanced than US global trade) 4. 76% US imps from Cda are intermediate goods for US firms /2

The reform of capital gains tax for corporations & individuals with over $250K booked gains in 1 year was a good idea, that ran into bad timing. I tell @radioanis Heydari with @CBCNews its deferral will make zero difference to investment going forward: cbc.ca/news/business/… /2

I will join @andrewcbc Nichols on @CBCNews Channel in a few minutes to discuss the latest threats emanating from Trump, how his tariffs would hurt 🇺🇸 as much as 🇨🇦, and what we can do to be ready. See our @futurework_cda report for more: centreforfuturework.ca/2025/01/12/who… #cdnecon #canlab

Here's my chat with @jayme_poisson for @CBCNews @FrontBurnerCBC on making the case for 🇨🇦 with Trump: cbc.ca/listen/cbc-pod…. His to-and-fro bluster is clearly designed to keep us off-balance. But we should be confident about our value to the US: they need us, too. #cdnecon /2

This is a rich mythbuster by Gabe Friedman @GabeFriedz for the @financialpost on what becoming the 51st state would really mean: financialpost.com/news/economy/w…. Borders are not just a 'friction'. They help to ground investment so we can be more than a northern hinterland in NA. #cdnecon

“Who’s Subsidizing Whom?” I have written a new report for the Centre for Future Work @futurework_cda rebutting Trump’s arguments that the U.S. “subsidizes” Canada through its bilateral trade deficit: centreforfuturework.ca/wp-content/upl…. #cdnecon #cdnpoli #canlab /2