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Energy pricesInternational Institute for Sustainable Development
•87% Informative
From February 2021 to June 2022 , energy prices accounted for a third ( 33% ) of Canada ’s overall inflation.
Oil and gas price shocks are not new, and energy-driven inflation will keep occurring if Canada continues to be dependent on fossil fuels.
Fossil fuel price volatility will continue, driven by geopolitical conflicts, climate-related disruptions impacting both supply and demand.
Policies that discourage the use of oil and gas and encourage fuel switching will help Canadians save money.
In 2022 , the main sources of primary energy consumed in Canada were natural gas ( 38.1% ), refined petroleum products ( 35.0% ), followed by electricity ( 23.5% ) Many provinces still rely heavily on fossil fuels for their power production.
Fossil fuel price volatility is expected to continue and worsen as climate-related disruptions impact infrastructure, supply, and demand.
Canada can mitigate future inflation and help make life more affordable for Canadians by supporting a transition away from fossil fuels.
Governments have a role to play to strategically discourage the use of fossil fuels through policies such as carbon pricing, fuel taxation, and fossil fuel subsidy reform.
Renewable and electrified energy sources are not only good for the climate, but they also save people money through lower costs and improved efficiency.
It is incumbent on governments to champion policies that expedite the transition to more affordable, efficient, and clean energy.
VR Score
88
Informative language
87
Neutral language
51
Article tone
formal
Language
English
Language complexity
72
Offensive language
not offensive
Hate speech
not hateful
Attention-grabbing headline
not detected
Known propaganda techniques
not detected
Time-value
long-living
External references
55
Source diversity
42
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