From Miracle to Menace

Book excerpt: A miracle. Coal, oil and natural gas, the carbon-based fossil fuels that powered the Industrial Revolution and civilization’s rapid advancement. A menace. Climate change has how convinced many that carbon emissions are the world’s greatest challenge. The necessity and benefits of decarbonizing the global industrial and energy complex are well articulated. What is not explained is this will require the largest financial disruption in history, affecting everyone and everything. For over a century Alberta’s massive carbon resources have supported Alberta and Canada financially, helping make Canada the world’s fifth-largest oil and gas producer. Carbon has been a major driver of prosperity, employment and opportunity, shaping the country we know today. However, climate change is creating enormous challenges for Alberta - and Canada - with no possible outcomes that will satisfy all stakeholders. Alberta has become ground zero for the changes many demand but few are willing to pay for. As the province demonstrates what carbon’s future looks and feels like, unless the rest of the world participates Alberta has become a needless sacrifice. From Miracle to Menace explains how Alberta came to be, the enormity of the planned financial dislocation, and how Alberta, and Canada, can meet the climate challenge without committing economic suicide.