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Bill Kelly: Ford’s energy plan could be more pain than gain

Click to play video 'Doug Ford says that getting rid of the Green Energy Act will reduce hydro rates' Doug Ford says that getting rid of the Green Energy Act will reduce hydro rates
Ontario Premier Doug Ford says getting rid of the Green Energy Act would reduce hydro rates and give relief to the people of Ontario – Jul 11, 2018

A recent article in Forbes magazine made some interesting observations about the ramifications of Doug Ford‘s move to kill cap and trade and tear up alternative energy contracts.

Now, I know that Ford disciples tend to dismiss any critique of Ford as nothing more than left-wing propaganda, but Forbes doesn’t fit that bill; it’s the magazine about the wealthiest of the wealthy.

READ MORE: Ontario’s PC government introduces legislation to scrap cap-and-trade

The article states that Ford’s environmental policies will cost Ontario taxpayers millions of dollars and will likely result in the loss of thousands of jobs in the energy sector.

Companies that got stiffed by Ford’s immediate shutdown of cap and trade will be in the hole for about $2.8 billion and much of that cost will be passed on to consumers by way of higher prices.

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WATCH: Ontario’s cap-and-trade cuts leave auto dealerships in the dust

Click to play video 'Ontario’s cap-and-trade cuts leave auto dealerships in the dust' Ontario’s cap-and-trade cuts leave auto dealerships in the dust
Ontario’s cap-and-trade cuts leave auto dealerships in the dust – Jul 17, 2018

It goes on to say that any government that arbitrarily tears up contracts creates uncertainty for investors and that could curtail much needed foreign investment in the province.

In fact, it’s estimated that the cancellation of solar and wind projects and investment in electric vehicles could cost Ontario about 6,000 jobs and $100 million in lost investment.

There’s much more, but I think we get the idea.

Ford said he wanted to send the message that Ontario is open for business, but his actions on the energy file may be sending just the opposite message.

Bill Kelly is the host of the Bill Kelly Show on Global News Radio 900 CHML

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