In my latest National Post column I say the decision by Warren Buffett to pull his $4 billion stake in a Quebec LNG plant, plus Teck abandoning its Frontier mine, is a scary and overdue intrusion of reality into the increasingly make-believe world of Canadian public policy.

In BOE Report I argue that even a would-be economically sensible defence of carbon taxes from the Ecofiscal Commission totally misses the key economic point that, because there are no good substitutes for gas, if you raise the price then give the money back in rebates people will use it to afford more expensive gas, and if you don’t give it back they’ll economize on other things to afford more expensive gas.