By Angela Harmantas
Election season in Canada, Obama’s aggressive climate change announcement and TPP talks become more challenging – here’s what you need to know today:
Canadians are headed to the polls in October. On Sunday, Prime Minister Stephen Harper called a federal election for October 19, making the next ten weeks the longest and likely most expensive campaign season in the country’s history. With the price of US crude oil hitting a 4-month low yesterday, watch out for the economy (and Canada’s ability to withstand sustained oil price pressures) to be the key talking point amongst Harper, the NDP’s Thomas Mulclair and the Liberal’s Justin Trudeau. I’ll certainly be watching each candidate’s plan to deal with Canada’s oil woes in the weeks to come. What do you think are the major economic issues that need to be addressed in this campaign?
South of the border, climate change suddenly became a key election issue thanks to a momentous announcement by Barack Obama on Monday. The US President set even stricter cuts to power plant emissions in a move that is already being challenged by the opposing Republican Party and even some in his own Democratic Party. Obama’s new proposal calls on power plants to reduce their carbon dioxide emissions by 32 percent, above the 30 percent by 2030 target set just last year. It’s a decision with lasting global ramifications, and one that Canadian politicians are sure to pay close attention to during this election. There’s a right way and a wrong way to handle the certainty of global warming in the coming years – will Canada be on the winning side of history in this fight?
There’s been no decision reached in Trans-Pacific Partnership talks ongoing in Maui, and that may not be good news for Stephen Harper. Even though discussions took place over the weekend, representatives from the 12 member countries are now anticipating another three to four weeks of talks before an agreement can be finalized. Harper and his Conservative Party are now facing a grueling federal election and the responsibility to negotiate a massive trade deal that rivals NAFTA in importance. Remember, Canada is playing hardball when it comes to protecting its dairy industry, so it’s up to Harper’s trade ministers to protect the national interest in TPP talks while the election plays out in the background.
Have a comment or suggestion? I’d love to hear from you! Contact me at angela@smallcappower.com or on Twitter: @aharmantas.
