Jim Balsillie

Fossil fuel, hydrocarbons.

Fossil fuel, hydrocarbons.

Sorry, hydrocarbons, hydrocarbons. Hydrocarbons, yeah. Import, or sorry, consumption and export of hydrocarbons overwhelmingly pays for this country.

Sorry, hydrocarbons, hydrocarbons. Hydrocarbons, yeah. Import, or sorry, consumption and export of hydrocarbons overwhelmingly pays for this country.

Sorry, hydrocarbons, hydrocarbons. Hydrocarbons, yeah. Import, or sorry, consumption and export of hydrocarbons overwhelmingly pays for this country.

That's good terms of trade.

That's good terms of trade.

That's good terms of trade.

On the good terms of trade. I'm speaking technically. Yeah. Okay. We have a deficit in intellectual property. And that would be much more if we included data in AI. And we're major importers of intellectual property and technology products. So we have poor terms of trade in technology. The technology arena.

On the good terms of trade. I'm speaking technically. Yeah. Okay. We have a deficit in intellectual property. And that would be much more if we included data in AI. And we're major importers of intellectual property and technology products. So we have poor terms of trade in technology. The technology arena.

On the good terms of trade. I'm speaking technically. Yeah. Okay. We have a deficit in intellectual property. And that would be much more if we included data in AI. And we're major importers of intellectual property and technology products. So we have poor terms of trade in technology. The technology arena.

In spite of all the things we invent, the smart people, the government funding over decades... And the effectiveness of that even. Well, that's the issue is we're first world in inputs, third world in outcomes. Right. And there's not... And today in this conversation, we're unpacking why. Yeah. But I'm going to stay on this orthodoxy of Mr. Carney. Yeah.

In spite of all the things we invent, the smart people, the government funding over decades... And the effectiveness of that even. Well, that's the issue is we're first world in inputs, third world in outcomes. Right. And there's not... And today in this conversation, we're unpacking why. Yeah. But I'm going to stay on this orthodoxy of Mr. Carney. Yeah.

In spite of all the things we invent, the smart people, the government funding over decades... And the effectiveness of that even. Well, that's the issue is we're first world in inputs, third world in outcomes. Right. And there's not... And today in this conversation, we're unpacking why. Yeah. But I'm going to stay on this orthodoxy of Mr. Carney. Yeah.

So we have very good terms of trade in hydrocarbons, very poor terms of trade in... technology products. And so his proposition is that we tax the things that we sell and we subsidize the things that we buy. So if you want to affect a green transition, and you have this structure, that's called a dichotomy. You have to choose between

So we have very good terms of trade in hydrocarbons, very poor terms of trade in... technology products. And so his proposition is that we tax the things that we sell and we subsidize the things that we buy. So if you want to affect a green transition, and you have this structure, that's called a dichotomy. You have to choose between

So we have very good terms of trade in hydrocarbons, very poor terms of trade in... technology products. And so his proposition is that we tax the things that we sell and we subsidize the things that we buy. So if you want to affect a green transition, and you have this structure, that's called a dichotomy. You have to choose between

The economy paying for the place or the environment in his structural view of the world of scarce natural capital that we have to deal with. And I'm not making a normative comment. I'm just talking economically here. So his prescription will make us poorer.

The economy paying for the place or the environment in his structural view of the world of scarce natural capital that we have to deal with. And I'm not making a normative comment. I'm just talking economically here. So his prescription will make us poorer.

The economy paying for the place or the environment in his structural view of the world of scarce natural capital that we have to deal with. And I'm not making a normative comment. I'm just talking economically here. So his prescription will make us poorer.