Armstrong Economics Blog/Energy Re-Posted May 31, 2022 by Martin Armstrong
Since politicians are incapable of easing the energy crisis, they gaslight the public to believe that high prices are a good thing. Ontario Liberal candidate Granville Anderson is urging Canadians to see the “silver lining” in higher gas prices. “Maybe that’s a silver lining and that may allow people to think outside the box and say maybe I better look at seeing if I can ride a bike to work or buy an electric car,” Anderson said. “I think the price could be a lot lower than it currently is. But again, I said that may allow us to think twice and probably find another mode of transportation.”
Interestingly, he made these comments shortly after Ontario experienced a disastrous storm that left 150,000 people without power. I am sure people would be thrilled to drop their kids off at school via bike or trek through a storm to arrive at a job that pays only enough to make ends meet with sky-high inflation. The common suggestion of politicians to buy an electric vehicle is insulting to the majority of the population who cannot afford that luxury. According to Scotia Bank, the average cost for an EV in Canada is between C$32,000 and C$160,000. The average maintenance cost is C$1,150 annually, not including charging or unexpected fees.
There is no silver lining to the energy crisis; there is no alternative option to gas at this point in history.