Without Nuclear Canada's Energy Transition is Doomed, w/ guest Dr. Chris Keefer - Loonie Hour EP 111
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- เผยแพร่เมื่อ 23 พ.ย. 2023
- We interview the president of Canadians for Nuclear energy Dr. Chris Keefer to discuss nuclear energy and why the current government has suddenly taken a u-turn on nuclear energy policy. We then discuss the Federal budget update, housing funds and the AirBnb changes coming. CPI in Canada falls back to within the BoC's target, and comments from Tiff Macklem.
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Rich, I just realized how important you are in this pod. Your humor chemistry with Keith is amazing 👍🏻
Totally agree!
Steve. Thanks for bringing up the increase in federal subsidies to legacy media. (Should be illegal, IMO)
I feel the shift to totalitarian state is proceeding as described by Steve. An example is the tree cutting bylaw here in Surrey. We are not allowed to remove trees from our own property without applying for a permit which may not be granted even if the roots for example are destroying ones driveway.
Jesus H. The overreach of the State must be stopped. Things are well into the zone of dangerous.
Wow
Steve looks nervous on the AirBNB regulations. 😂😂😂
Don’t own any Airbnb properties, never have. Neither do my clients
53:38 I’m with Rich on this one. I personally got booted out of a long term rental because the owner decided to turn it into an Airbnb. I can’t even blame them as the numbers are so much more profitable doing short terms. If this tax rule now levels the profitability of doing short term vs long term, I think it will bring more units to market for full time living. I live in an area where half the units around seem to be Airbnb and nothing long term rental available.
lolol Lets talk about the investors getting screwed over long term leases and long term tenants. LTB and tenants have all the rights. It literally boils down to that. STR's allow more flexibility and more rights with your own property. Hater going to hate. Pay your rent on time and keep being poor.
@2:35 Those NYC clients wanted an edge... Rich regurgitating consensus views must have been beyond irritating
So glad to see a Canadian medical doctor still alive....he must not have gotten the jab, thank God. Great guest on nuclear energy for future energy. Great episode again.
🤣🤣🤣
12 ppl l liked this comment 🤦♂️
I assumed listeners of this podcast would be smarter than this
The vaccine isn’t all it was promised to be but the evidence overwhelming shows the benefits outweigh the risks.
And the narrative that large numbers ppl are dying from the vaccine is total nonsense.
Uneducated 🤡
Another thing which would go an extremely long way toward encouraging long term rentals would be making it easier for landlords to eject problem tenants before they can cause physical damage to the unit or cause the landlord long term financial distress living in a unit for months without paying.
Great episode this week, glad to see Rich back, and a very interesting guest! Glad to hear the boys talking our huge deficits, and kudos to Steve for pointing out the extra government dollars for media!
Steve, stop rushing the convo
Steve, can you go head to head with Ron Butler at the event over AIRBNB. He doesn't seem to like them at all. I'm on your side with STR's and would love to hear you both debate them. Think about it. See you Thursday at the Don !!!
i think ron panders to his audience alot.
@@roseoverdose6451 Ron doesn't pander, he is past that point in his life. He talked to parliament a little while ago about his disdain for STRs. He was not trying to pander to them, heck lots of MPs own investment property, they probably didn't like what he said.
@@Jo-mf2vu to me it seems he really does pander... and he doesn't even understand them.
He keeps saying they are not zoned to operate and just "illegal" hotels but that's not true here in Victoria. There are some buildings with condos as a permitted use as "vacation rentals". other than that, i've never heard a single (data based) reason he's against them. just his opinion.
just a story about a guy walking into his daughter in laws house by mistake, or something.
Good idea
I like Ron but yes he says cottage country is fine but city isn't , walking through property story, what happened Ron. I love what Steve said Friday on the pod about govt control . How much and where is the line for all to be fair ? I'll tell you my LTB stories and STR are the only way to go in this day and age as a responsible investor. Blame here , blame there blame everywhere but here story .....thanks for the content Steve
another big reason property owners go AirB&B , rather than traditional monthly rentals, (which nobody mentions), is that AirB&B does not fall under the juridiction of the BC residential tenancy act, which the NDP has constantly been changing so that the rights of tenants exceed those of the rights of the property owner. And "nice" landlords who have kept their rents low for good tenants are now trapped with not being allowed to increase their rents to keep up with inflation such as significan'tly increased mortgage reates and increaseed property taxes and property insurance and contractors etc. Just a thought.
Excellent show! Dr. Keefer is very knowledgeable and all action. A pleasure to listen to your show
Is it wrong that I have been refreshing my feed hourly since 5 am, awaiting the next episode of the loonie hour !?
Yes it is
@@kqh123then I don’t wanna be right
@@Ashkalia00 get up at 2am then
The core issue isn’t that we don’t have enough housing. The core issues are that we have too great of an influx of people coming into Canada for the existing infrastructure as well as the commodification of residential housing.
Lower immigration to a balanced input where infrastructure has time to stay ahead and keep interest rates high enough to stabilize home prices so that an average local income can purchase into the market so there’s retention of skill set that will help with Canada’s per capita GDP so there’s sustainable quality of living at a good standard.
Great guest! Great topics! Great show as always guys!
Regarding Airbnb’s, why is no one talking about fixing the LTB so that people are less incentivized to run an Airbnb? People will take the chance, find loopholes, and do the math between the new costs of Airbnb’s and long term rentals…as if every tenant always pays their rent. I’ve been a landlord for over 25 years and it’s horrible to imagine new landlord’s getting screwed over in rental arrears in todays rate environment. Also, Airbnb’s are area specific. I don’t think there’s much going on in Aliston. In short, the nightmare that is the LTB is causing people to find safer ways to rent their properties. Fix the LTB, safeguard landlords and incentivize long term rentals and I imagine some of this Airbnb stuff will only be available as it was originally intended. My 2 cents!!
Have a great weekend guys!!
Spot on, in Ontario especially. Had to evict someone last year and the LTB hearing took 12 months for them to schedule an initial hearing.
If tenants decide to stay you have no legal way to get them out until you win a court case.
If you lose that first court case that will finish 1-2 years after submitting the evidence you have to submit again and the tenants can still stay in the house until the end of the next case another year+ later.
You can easily lose a case due to improperly filling out the paperwork, not serving the documents properly, etc
Absolutely brutal market in Ontario to be a landlord.
Allan Greenspan's theory on inflation, his university professor once quipped, you know what causes inflation? Government deficits do! At a time when we are trying to quell structural inflation issues, what would help? A balanced budget.
Great Job!!! Thank You... :-)
There is nothing wrong with wind or solar, but they're not the whole answer. Nuclear is a very important baseline and even natural gas peaker powerplants may be required for quite a while.
Rich and Keith humor is rubbing off on Steve😂😂
Quite beating around the bush Steve these oversteps will never be given back once they have it
Did the Toronto live event recently change from The Don on Danforth to the Fairmont Royal downtown? Please confirm where it will be!
Great episode!
Nuclear power is the future and handles Base load power perfectly. It is a double edged sword that must be repected.
That was a good interview
For you guys I would even do 30 minutes survey!
Haha thank you
"And housing will balance itself" - Justin Trudeau
Keiths laugh at 56:25 minutes killed me :D
Thank you very much to Dr Keefer for this great talk! Canada and the world must come to the realization that Nuclear is the only viable cornerstone solution for the world's ever growing energy demands and emission goal lines.
Regarding the government encroachment with Airbnb regulations, isn’t regulatory risk always a consideration in any investment decision? Whether it’s STR in a housing crisis to gold mine projects in Africa.
WOW .. realistic dialogue with fully function common sense
One of your best episodes!👍
I was thinking the same! Nice job guys
Steve, please look up a Canadian founded company Eavor which provides anywhere-capable geothermal energy. Its a bunch of ex-hydraulic drillers from the Alberta oil industry who found a baseload power solution.
You should have a whole episode on MMT
Really enjoyed Kieths commentary about Canada going down a slippery slope. That being said, all the headlines regarding soft landings... It is to sucker in as much money as possible before the markets fall. I expect a melt up in the stock market, SPY to 600. 🍿
Thanks guys.
Hi Casey. We're not bearish on equities. Instead, we are hedged. Happy to chat directly if you'd like.
Big fan of Michael Geist, what episode # did you have him on for? I searched but didn't find his name in your video titles.
Episode 86
I agree that demand and immigration play a huge role in our housing issues. However, does anyone have a stat on how many immigrants live together when they arrive? Eg. If on average every 2 people live together then we only need 500,000 new housing units if we have 1 million immigrants arriving. This is a very simplistic example but it creates a true picture of how much housing supply we need. If on average 4 new immigrants live together then we only need 250,000 more housing units etc… Reducing immigration based on housing supply seems to be the only realistic answer. Unfortunately our government doesn’t like to discuss reducing immigration.
May be there also isn’t enough hotel stock. Why are airbnbs so popular. Not enough hotels? Hotels too expensive?
The way I see it hotels are failing at providing short term accommodation for what ever reason. Otherwise people wouldn’t opt for an Airbnb.
I work in manufacturing, barely. We have trouble investing in new equipment as the past provincial liberal Ontario government and the current federal liberal government have made it impossible to compete.
do a live event in Victoria. way more hip and happening here. boomers everywhere!
I think it should be ok for the government to restrict how housing is used since it is a limited resource. Housing has turned into an investment in canada and the speculation is hurting people who actually just want to buy their first home. If you look at housing costs in the united states vs canada it is crazy. Sure the demand is an issue as well but you still need to deal with the supply issue. Mortgage rates should not go down as there are many people who are investing in housing who were only able to afford it at abnormally low rates
How is it a ‘limited’ resource? Demand seems to be the parameter which is unlimited. I.e. as long as the world’s population continues to increase.
@@dwightcarlson7136 You kinda answered your own question. There is no way housing supply can keep up with the population demand. There is always going to be immigration in because the economy depends on it. Housing supply can't be built that quickly and space is limited in the cities which people want to live.
Keith’s football score prediction was very close. Wow!
Go Niners!
I did your survey and I would have appreciated the ability to leave a comment.
Rich: As a longtime Canadiens fan in NYC can you name a couple of good bars to catch a game in Montreal. Prefer neighborhood bars rather than downtown. Can you recommend? Keith?
We missed you Rich
Liquid fluoride Thorium reactor ?
Cant melt down when the fuel and moderator is already Liquid .
Hey will you guys be offering up lines of crushed up nuclear waste on silver platters at the live show?
For the first 50 guests
Whats interesting in this country is we are fine and WANT gov run firefighting services and water services - But we dont want the government to do the same with housing. So in essence Canadian government will guarantee water service and fire fighting services to your home - But won't guarantee you'll have a home to begin with.
"Let the market decide" - Sure lets privatize all water tables, rivers, lakes and we can sell water to our kids at x4 the cost, we can all be rich off our children.
Ontario had 5 cents kwh for hydro when coal was a part. Itis now over 15 cents. Plus there is a massive subsidy by govt for nuclear. How much, it is unknown. So we pay more per kwh plus a larger debt by using nuclear
The Liberal regime of McGuinty and Wynne (aka Orville Redenbacher) destroyed Ontario's electricity prices through their Green Energy Act. And guess what - the same geniuses from that regime are now behind the scenes federally doing the same thing to all of Canada.
How much is the cost for solar panel and wind turbine produced electricity?
Heaven forbid we should pay extra just to save our grandkids' lives.
@@dwightcarlson7136solar, wind were 80 cents/kw until govt reduced it to 40. Point is hydro is subsidized, if the consumer paid the trie cost, or even close, ontarian would lice like the 1940
Isn’t Scotia bank afraid of blow back from the federal government for their comment?
We owned amazing and economical nuclear in Ontario until the wicked &$$$ liquidated it from is.
I have nothing against nuclear waste but comparing it to burying wind turbine blades. Manitoba has a nuclear waste site that has to be guarded/with firearms until there’s a use or way to dispose of it. Neither is clean. In all Nuclear benefits more people in terms of money.
So the comment about people living near nuclear are pro nuclear, how did that work for the people in japan and chernobyle.
Canadas minister of all things good and only holy endeavours chrystia freeland was out a few mos ago looking for 15B$. Alot if ppl suspect it was for those SMR projects.
what th drama with natural gas
Tons of alternatives to Airbnb. Lots of similar Chinese apps
The regulations are for STRs on all platforms. The Chinese ones will also be clamped down on.
@@Jo-mf2vu near impossible to clap down on Chinese apps. The government won’t put resources into doing it.
@@Observer168The federal government just said they are giving 50 million to cities to help clamp down on illegal operations, and there are plenty of staff at city hall that understand Chinese.
@@Jo-mf2vu highly doubt it, what about all that hot air about money laundering? There are regulations but very little enforcement
@@Observer168Most operators of short term rentals would rather not be operating illegally, especially if the government is now adding massive tax implications to it. Not only will you get hit up with fines from the municipal and provincial level, but you also may get a massive CRA bill. The Airbnb model is attractive to investors, operating illegally on shady sites and Craigslist is not attractive.
@1:06:07 40 billion in service payments Steve. He's right, it's obviously not working.
Why don't you recommend dalio's books to your friend? Or Steve Keen?
Why don't you have the courage of your convictions Steve?
The STR regulation is more complicated then that... Victoria (and other communities) has zoning for STRs. The condos permitted use stated "vacation rentals" in the zoning. This government has taken away our rights and removed that zoning. In fact, they were built for and marketed as short term rentals when they were first built... the city signed off on them.
Well now the RE bros know how the gun owners feel. Wait till you find out the tax rate on STR in 5 years
@@donm2067 yea, except real estate bros, and many other people are losing their retirements, savings and (for some) their main source of income. every owner in those buildings (operating STR or not) are taking a 20%+ hit overnight on their net worth. there was a premium paid for that zoning. gun rights are important but this legislation has more dangerous implications than restrictions on owning a certain type of gun. imho.
@@roseoverdose6451 exact same thing, whether you want to admit it or not.
Lots of guys own businesses that lost millions.
Property rights are property rights, just remember this.
First they came for the Communists, but I was not a Communist so I did not speak out. Then they came for the Socialists and the Trade Unionists, but I was neither, so I did not speak out. Then they came for the Jews, but I was not a Jew so I did not speak out. And when they came for me, there was no one left to speak out for me.
@@roseoverdose6451 don't get me wrong, much love from the North Thompson.
Apes together strong.
@@donm2067 Apes alone weak. Apes together strong.
Cant wait to hear Mr. Keefer's thoughts on how Bitcoin can support excess nuclear generation demand. Buyer of last resort. Bitcoin can make the number much more attractive for nuclear projects.
Keynesian economics assumes government adhere to economic theory vs the desire to get the vote. There is no such thing as a fiscally responsible democracy.
I hardly think it only applies to democracies.
@@dwightcarlson7136 I should correct myself. Democracies are overtly spend to elect, while dictatorships are spend to avoid revolt. Same thing in the grand scheme of things I suppose. Where there is leadership there is the propensity to stay there for their own gain. If someone that did the opposite I suppose they would never see power in the first place.
Keynesian economics died in the 70s, but no one noticed except the financially literate
There is a big difference between physician and physicist. The guest was introduced as a healthcare worker and I didn't hear he has any training in nuclear, wind, solar, hydro, physics or even engineering. Despite his lack of credentials, he opens by dissing his ops for their lack of credentials.
The only technical material he shared about nuclear was focused on nuclear waste, the standard distraction from the real danger of nuclear: meltdowns. The only decent way to argue for nuclear is to explain why people shouldn't worry about meltdowns. By ignoring meltdowns, he showed he is not confident in their 'solutions'.
He says wind and solar are no good because there was a time when it wasn't windy for 2 weeks. Wind and solar don't need to be constant when there are hydro dams on the grid. Hydro dams act as long term batteries, they can supply power for months of low wind and low sun.
He admits hydro is great but claims we've used up all the great hydro spots.
First off, there are plenty of great spots left.
Second, good spots work too, don't have to be great spots.
Third, even without rivers, pumped hydro is feasible in some cases.
I was open to hearing some pros to nuclear but this trash talker merely gave more evidence that nuclear lacks the merits to be promoted with facts. He shows that if one wants to promote nuclear, they must use lies, insults and distractions.
Why don’t you tell us what you really think? How many people have died from meltdowns compared to those who have died from coal mining or automobile accidents?
I don’t feel the government should have any say on what we do with our houses. These are investments from our hard earned income, we pay property taxes, carbon taxes, HST on rental income, higher insurance rates,and it goes on and on. I purchased the house dilapidated with no occupants and renovated it. I since took a job in another province but I didn’t want to sell or rent long term because I visit my family frequently. Air b&b makes it possible. Maybe focus on the issue at hand. Our townships cities, and provinces are holding back developments and slowing building with red tape every step of the way. Throwing all the money in the world won’t fix the problem at hand. Provide these institutions with better processes and slow immigration until we get a handle on housing! Sorry I had to vent!
Now you know how the gun owners feel.
This is just the camels nose, wait till he gets in the tent
I am a FAC owner and I’m not the one he should be worried about! It’s the illegal guns that are being made or smuggled in! JT has to go!
If you don't like government telling you what you can do with your property you should never buy a property in a municipal area. Actually if you don't like regulations you should buy in rural Alaska or west Texas. In cities there has always been and always will be regulations on how you use a property.
Total wrong information by Steve on AIRBNB regulations. Seems like Steve is also a AIRBNB host with multiple properties. Do your homework before coming and spreading misinformation Steve.
that's your arguement? lol. very convincing. what's "total wrong information" exactly?
@@roseoverdose6451 : Go listen
Please elaborate
Steve, Chrystia Freeland's math is worse than my 4 year old niece's. Remember, all we have to do is cancel Disney Plus, and all of our economic issues will be solved.... everything else is just noise
Big fan of the show, but it does include some obviously silly comments from time to time...
This week, that honor goes to Steve. A ban on short term rentals doesn't just free up some current stock. It ensures future stock is also free for living space for citizens...
And democracy is never totalitarian. It's categorically false to suggest otherwise. Short term rental bans are an extreme policy, sure, but this is an extreme problem.... All supply side and demand side measures should be considered.
Real estate investors should have seen this coming too. Investors need to anticipate policy changes. That's an important part of the job, and this was hardly unpredictable. They're not entitled to their preferred policy landscape.....
We are STILL good at heavy construction however the outright attack on our Oil & Gas, Mining, Petrochemical and Nuclear sectors by the current Liberal Gov has impacted our capacity. Time to stop demonizing resource development and trade skills or Canada will become a second rate country very fast.
Shocking that bmo would pay you to advertise an etf when the banks all want you to sign up to mutual funds and rob you blind with fees. I guess they must know anyone spending time on the loonie hour podcast must have some logic 😂
My biggest take away is that the thinking my solution is the only solution is to strong. I think you guys were guilty of it here as well spreading myths about wind(wind mills don't all end up in landfills, thay are now being recycled or used as fuel). Nuclear, wind and solar and even a small amount of natural gas all need to part of the solution to decarbonisation.
First
No
That's quite the accomplishment. Have you told your mom yet?
Nice.
Our current reactors are poorly maintained and should have been decommissioned decades ago.
The reactors this lobbiest advocates for are old and obsolete designs that soak the most amount of tax payer money in the process.
I think hydro electric and natural gas are great base load technologies.
If your guest was advocating for molten salt or non CANDU designs, it would be an interesting discussion. But the lobbiest just want the old tax payer subsidized system.
No one wants to live around the reactors except the workers benefiting... After Fukushima, I'd never support another uranium powered plant.
But good luck shilling the pro nuclear industry propaganda.