Thread by @RossMcKitrick

Everyone in 🇨🇦 is focused on x-border trade which Trump has screwed up badly. But IMO the bigger threat is what Lee Zeldin's EPA just announced... epa.gov/newsreleases/e…

We've been losing investment and jobs to the US for a decade while our government kept tightening the noose on our economy in the name of climate zealotry. Because the US was making similar moves we were shielded from some consequences. Until today...

The US just began the process of cutting climate restrictions from its energy, heavy industry, manufacturing and finance sectors. Trump's Day 1 Exec Orders set out the goals and today they made formal announcements of intent to deregulate...

Next will come formal Agency actions and opposing litigation. The same legal machinations over the past 3 decades that made it easier and easier to over-regulate will likely make it easier to hit reverse and deregulate...

If even half of these announced deregulation efforts go through we will see an enormous investment boom in the US. Assuming Trump doesn't stomp it into dust with stupid trade wars on all sides...

As for Canada Mr GFANZ Carney has said for years that he plans to accelerate the Net Zero agenda and the "Managed Phaseout" of what he calls "high emitting assets" aka the entire industrial economy...
assets.bbhub.io/company/sites/…

Our current climate regulations are costly enough but the new federal plan that kicks into high gear in 2026 is far worse...
fraserinstitute.org/studies/econom…

Carney is the last man on planet Earth who can credibly promise to reverse course on this plan since it's what he has been demanding for years. He traveled the world lobbying politicians, banks and investors to get radical on climate policy...

He lobbied the world's financiers to cut off all financing to our oil&gas sector and heaped praise on those that did. Page after page, report after report at the GFANZ website records this.
gfanzero.com

So we have a new PM determined to push Canada into even more radical climate policies while the US is about to rid itself of these costly and futile burdens. I expect the investment flight to worsen unless Canada undertakes a major course correction.