> Solar, wind, or whatever Future Tech is unlikely to have the same direct mine->refine->commodity->sell->use cycle on which a lot of this edifice is built
What’s that mean? Solar is providing energy at similar costs.
It's providing energy with fewer intermediaries soaking up profits along the way, and can be done "anywhere" the sun shines instead of where resource deposits are concentrated. Entire political classes will be (and are) mobilized to push against this. There is a lot to lose for a lot of people.
That and a huge % of the stock market's value right now is built up of energy companies. Especially here in Canada.
So we’ll spread out energy production to more smaller actors, and it will be more interesting how energy is used. That could rejuvenate markets, let old fossil giants die.
Trudeau should rejoin the Paris Accords and move to the secondary and tertiary sectors (or as Mulcair put, get rid of Dutch Disease), or Canada (and everybody else) will be fucked.
That and a huge % of the stock market's value right now is built up of energy companies. Especially here in Canada.