This crisis has reinforced what we already know — our current economic system is leading us down a path of destruction
Economists are cautioning that the Canadian economy has entered one of the deepest recessions in our history. Our country is not alone in this. The impact of COVID-19 has put the global economy on track for a “new Great Depression.”
Late last week, Bloomberg reported that a US$320-billion Saudi wealth fund controlled by Crown Prince Mohammed bin Salman had snapped up shares in Canadian Natural Resources Ltd. and Suncor Energy, becoming CNRL’s eighth-largest and Suncor’s 14th-largest owner. The fund made its move after CNRL’s shares lost 43% of their value this year, and Suncor’s dropped 46%, compared to a 15% decline across the Standard & Poors/Toronto Stock Exchange Composite Index.
The novelist on how coronavirus threatens India — and what the country, and the world, should do next
Who can use the term “gone viral” now without shuddering a little? Who can look at anything any more — a door handle, a cardboard carton, a bag of vegetables — without imagining it swarming with those unseeable, undead, unliving blobs dotted with suction pads waiting to fasten themselves on to our lungs?
COVID-19 is making many bearish about bitumen. Deborah Lawrence’s past pessimism has proven unpopular, and correct.
Geoff Dembicki reports for The Tyee. His work also appears in Vice, Foreign Policy and the New York Times.
Deborah Lawrence used to be a stockbroker with Merrill Lynch. Over the past decade, the independent economic analyst has developed a reputation for telling oil investors what they don’t want to hear.
May 13, 2020 - The wheels we humans have set in motion concerning carbon dioxide emissions and climate change are going to take some stopping, and the latest data from Hawaii's Mauna Loa Observatory are another clear indicator of this. Scientists there have logged record concentrations of CO2 in the atmosphere, in line with a steady trend that defies even the widespread and stringent slowdown in global activity as a result of the coronavirus pandemic.
"The COVID-19 crisis has made clearer than ever the flaws in our system, one that prioritizes military spending and global instability over the well-being of our people."
As the pandemic builds, most people, led by government officials and policy wonks, perceive the threat solely in terms of human health and its impact on the national economy. Consistent with the prevailing vision, mainstream media call almost exclusively on physicians and epidemiologists, financiers and economists to assess the consequences of the viral outbreak.
