The smart money isn’t on oil
Last week the United Church of Canada’s triennial General Conference urged the United Church to dump its $8.7 million investment in fossil fuels and put these funds into renewable energy. It would be easy to dismiss this as an isolated action by do-gooders.
But Jeff Rubin, former chief economist for the CIBC says the same thing in Tuesday’s Globe and Mail. As an economist, Rubin (together with David Suzuki) says that Canada’s oilsands are quickly becoming industrial dinosaurs in a world where the declining need for oil will be met by cheaper sources.
Maybe we should all be looking at our retirement investments and join the United Church to do the right (and the smart) thing.