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How China’s electric car push is shaking up oil markets

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Hello, folks! This is our weekly newsletter on all things environmental, where we highlight trends and solutions that are moving us to a more sustainable world. (Sign up here to get it in your inbox every Thursday.)

This is the first issue of 2019. The year ahead promises a lot of movement on the environmental front. Let’s dig in…

This week:

  • How China’s electric cars are affecting the global oil market
  • Floating solar panels combine function and flair
  • The ups and downs of coal
  • Your green resolutions for 2019

China’s electric car push is shaking up the oil industry

(Gregor Macdonald)

Gregor Macdonald, a U.S.-based journalist who has written for The Economist, Nature and the Harvard Business Review, believes 2018 was a pivotal year in the global transition to cleaner energy. Andre Mayer spoke to Macdonald about his new ebook, Oil Fall, and how changes in China are reverberating in the oil industry.

What happened in 2018 that you believe was significant for global oil consumption?

China’s vehicle market broke in the direction of electric vehicles [i.e. EV sales went up, despite a drop in overall vehicle sales] in mid-year of 2018, when I was anticipating that might not happen until mid-year 2020. And now that it has broken, it would be a waste of time for people to ponder whether or not internal combustion engines will make a growth comeback in China. The growth prospects for internal combustion engines are over in China.

Why is that significant?

China has a historical record of being able to maximize and supersize and accelerate changes in its economy and its infrastructure based on policy. The United States doesn’t have that type of ability to do that. But China does.

I use that as an example of why you should take very seriously China’s current initiative on electrical vehicle adoption, which is just insanely aggressive. It would be like taking California policy on electric vehicles and turbocharging it.

Commodity prices are very sensitive to marginal changes in growth rates. It’s very important to the oil industry, for Alberta, to have the market expect that demand be at least a little bit higher next year. That keeps the pressure on prices. I believe that when the global oil market spotted what … started to unfold in China in late summer, I believe that the global oil market had to start repricing future demand growth for oil.

The global oil industry has been living on the prospect of further Asian demand growth. And who’s at the cornerstone of that? It’s China. It’s not often that you can say that copper or gold went way up or way down based on a single factor. But I’m going to express some confidence here and say the break in the oil growth for China changed the [global] forecasts for demand growth.

Are there other indicators of a significant global move from fossil fuels?

The one other country in the world that has the ability to kick the trajectory of global energy in either one direction or the other is, of course, India.

Yes, they’ve somewhat cleaned up the coal industry, but they’ve also supported the coal industry, to the dismay of the global climate community — that’s fully acknowledged.

But India is now starting to build solar [power installations] at a very rapid rate, and has an aggressive policy goal. A beautiful example was the largest solar installation, called Kamuthi. It’s, like, 675 megawatts – that’s big, that’s huge. Kamuthi was completed within under a year. Why? Because India was able to hire 10,000 people, and they completed Kamuthi in less than a year.

The faster you get your project completed, and it starts generating useful work for you, the faster you start getting paid back.

This interview has been edited and condensed.


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Floating solar panels: Pretty to look at and so much more

(Mothership)

One of the problems in creating a large-scale solar power farm is finding a place to put all those panels. You need access to sun, which means wide open spaces are best. But land isn’t cheap, and with some small exceptions, they’re not making more of it.

One solution is to float panels on water. It’s been done in many places, including the U.K., the U.S., Brazil, Japan and Korea, and it’s scaling up in a big way.

The world’s biggest floating solar farm rests atop a Chinese lake that formed over a collapsed coal mine and is designed to generate 150 megawatts. That’s enough to power more than 20,000 North American homes. An even bigger floating solar plant is being constructed in Indonesia.

There’s lots of interest in Europe, too. The Dutch city of Rotterdam announced last week that it’s commissioning a floating solar “park” that doubles as an art installation. It will be shaped like a strip of gently rolling waves jutting into Rijnhaven, a port on the Nieuwe Maas River.

Floating solar has a few advantages:

  • No need to buy or rent land.
  • Lots of access to sunlight.
  • Automatic cleaning from the water, which prevents sun-blocking dirt buildup.
  • Increased efficiency, because of the water’s cooling effect.

Floating solar also has side-effects that are sometimes considered positive at locations such as reservoirs. The panels slow water evaporation, and by blocking sunlight from reaching the water, reduce the growth of algae.

That can also be a downside, since algae is food for aquatic creatures, and stopping its growth could starve the entire food chain. There’s not a lot of research yet on those kinds of impacts, but some scientists are studying them right now.

Because of ecosystem impacts and the fact that the water needs to be relatively calm, floating solar is best-suited for places like reservoirs behind hydroelectric or water storage dams.

Could it work in Canada?

The B.C. Sustainable Energy Association thinks so. It suggests that covering 10 per cent of the Williston Reservoir behind BC Hydro’s W.A.C. Bennett dam, for example, could generate 13,500 gigawatts a year — as much as the hydropower from the dam itself.

Emily Chung


The Big Picture: Coal consumption around the world

U.S. President Donald Trump promised the return of “beautiful, clean coal,” but in the United States, the consumption of coal — a dirty fossil fuel — is at a 40-year low, thanks to the use of cheaper energy sources. Western countries in general have seen a significant drop in coal use, but that hasn’t been the case in large developing countries like China and India.

Hot and bothered: Provocative ideas from around the web


Your New Year’s resolutions

(Rich Carey/Shutterstock)

For many people, a new year offers an opportunity to tweak the routine — or even overhaul it entirely. Here are some of your suggestions.

R.J. Meehan wrote that in 2019, “I’m resolving to cut back on waste and misuse.”

That includes changing diet, and “consuming only what my body, at its premium weight, really needs.” It also means reducing the use of single-use plastics by “taking containers to the bulk bins, returning containers to the point of purchase wherever possible and using used bags for other purposes until they are no longer usable.”

Meehan’s aim is to help create “a ‘usable’ world, to last my grand- and great-grandchildren’s lifetime. This will give me incentive.”

Holly Brown admits she has “long been environmentally minded.” While she isn’t one to typically make New Year’s resolutions, “my growing eco anxiety is prompting me to step up my  game even further.”

She has resolved to “eliminate plastic containers whenever I can.” She plans to do so by switching from liquid soap to bar soap (“Bulk Barn sells an unwrapped variety — bonus!”), using bar shampoo and “carrying a reusable container to use for takeaway at food courts and in restaurants to take home leftovers.”

Zuzana Telepovska  wrote that she and husband will spend much of 2019 travelling, but that they will do so with the environment in mind.

That will include using reusable LifeStraw bottles for water and KeepCups “for drinks that are served on planes.”

Conscious of the carbon emissions of flying, Telepovska said, “we do not plan to take many flights,” adding that she and her husband will move around “as much as we can on land, by hitchhiking or using public transport.”


Stay in touch!

Are there issues you’d like us to cover? Questions you want answered? Do you just want to share a kind word? We’d love to hear from you. Email us at whatonearth@cbc.ca.

Sign up here to get What on Earth? in your inbox every Thursday.

Editor: Andre Mayer | Logo design: Sködt McNalty

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The 3 Best Canadian Tech Stocks I Would Buy With $3,000 for 2021

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The majority of the Canadian tech stocks went through the roof in 2020 and delivered outsized returns. However, tech stocks witnessed sharp selling in the past 10 days, reflecting valuation concerns and expected normalization in demand. 

As these high-growth tech stocks shed some of their gains, I believe it’s time to accumulate them at current price levels to outperform the broader markets by a significant margin in 2021. Let’s dive into three tech stocks that have witnessed a pullback and are looking attractive bets. 

Lightspeed POS

Lightspeed POS (TSX:LSPD)(NYSE:LSPD) stock witnessed strong selling and is down about 33% in the last 10 days. I believe the selloff in Lightspeed presents an excellent opportunity for investors to invest in a high-growth and fundamentally strong company. 

Lightspeed witnessed an acceleration in demand for its digital products and services amid the pandemic. However, with the easing of lockdown measures and economic reopening, the demand for its products and services could normalize. Further, it faces tough year-over-year comparisons. 

Despite the normalization in demand, I believe the ongoing shift toward the omnichannel payment platform could continue to drive Lightspeed’s revenues and customer base. Besides, its accretive acquisitions, growing scale, and geographic expansion are likely to accelerate its growth and support the uptrend in its stock. Lightspeed stock is also expected to benefit from its growing average revenue per user, innovation, and up-selling initiatives.     

Shopify 

Like Lightspeed, Shopify (TSX:SHOP)(NYSE:SHOP) stock has also witnessed increased selling and has corrected by about 22% in the past 10 days. Notably, during the most recent quarter, Shopify said that it expects the vaccination and reopening of the economy to drive some of the consumer spending back to offline retail and services. Further, Shopify expects the pace of shift toward the e-commerce platform to return to the normal levels in 2021, which accelerated in 2020.

Despite the normalization in the pace of growth, a strong secular shift towards online commerce could continue to bring ample growth opportunities for Shopify, and the recent correction in its stock can be seen as a good buying opportunity. 

Shopify’s initiatives to ramp up its fulfillment network, international expansion and growing adoption of its payment platform are likely to drive strong growth in revenues and GMVs. Moreover, its strong new sales and marketing channels bode well for future growth. I remain upbeat on Shopify’s growth prospects and expect the company to continue to multiply investors’ wealth with each passing year. 

Docebo 

Docebo (TSX:DCBO)(NASDAQ:DCBO) stock is down about 21% in the last 10 days despite sustained momentum in its base business. The enterprise learning platform provider’s key performance metrics remain strong, implying that investors should capitalize on its low stock price and start accumulating its stock at the current levels. 

Docebo’s annual recurring revenue or ARR (a measure of future revenues) continues to grow at a brisk pace. Its ARR is expected to mark 55-57% growth in Q4. Meanwhile, its top line could increase by 48-52% during the same period. The company’s average contract value is growing at a healthy rate and is likely to increase by 22-24% during Q4. 

With the continued expansion of its customer base, geographical expansion, innovation, and opportunistic acquisitions, Docebo could deliver strong returns in 2021 and beyond.

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Manitoba to invest $6.5 million in new systems

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WINNIPEG – The province of Manitoba is investing $6.5 million over three years to replace technical systems used in healthcare facilities, including replacing current voice dictation and transcription services with more modern systems and upgrading the Provincial Health Contact Centre (PHCC)’s triage, call-recording and telephone systems, Health and Seniors Care Minister Heather Stefanson (pictured) announced.

“Our government is investing in the proper maintenance of information and communications technology to ensure digital health information can be safely stored and shared as needed,” said Stefanson. “These systems will ensure healthcare facilities can continue to provide high-quality services and allow Manitobans to get faster access to healthcare resources and information.”

Dictation, transcription and voice-recognition services are used by healthcare providers to write reports. There are currently approximately 80 healthcare sites across Manitoba using some combination of dictation, transcription and voice-recognition services. Many of these systems are nearing the end of their usable lifespans.

“Across our health system, radiologists and nuclear medicine physicians use voice-dictation services to help create diagnostic reports when reading imaging studies like ultrasound, nuclear medicine studies, X-rays, angiography, MRI and CT scans,” said Dr. Marco Essig, provincial specialty lead, diagnostic imaging, Shared Health. “Enhanced dictation and voice-recognition services will enable us to work more efficiently and provide healthcare providers with quicker access to these reports that support the diagnoses and treatment of Manitobans every day.”

The project will replace telephone-based dictation and transcription with voice-recognition functions, upgrade voice-recognition services for diagnostic imaging and enhance voice-recognition tools for mobile devices.

“Investing in more modern voice-transcription services will help our health-care workers do the administrative part of their jobs more quickly and effectively so they can get back to the most important part of their work – providing top-level healthcare and protecting Manitobans,” said Stefanson. “The transition to the new system will be made seamlessly so that services disruptions, which can lead to patient care safety risks, will not occur.”

The new systems will be compatible with other existing systems, will decrease turnaround times to improve patient care and will be standardized across the province to reduce ongoing costs and allow regional facilities to share resources as needed, Stefanson added.

The PHCC is a one-stop shop for incoming and outgoing citizen contact and supports programs such as Health Links–Info Santé, TeleCARE TeleSOINS and After-Hours Physician Access, as well as after-hours support services to public health, medical officers of health, home care and Manitoba Families.

The current vendor that supplies communications support to the PHCC is no longer providing service, making it an opportune time to invest in an upgraded system that will provide better service to Manitobans, the minister said, adding the project will provide the required systems and network infrastructure to continue providing essential services now and for the near future.

“The PHCC makes more than 650,000 customer service calls to Manitobans per year to a broad spectrum of clients with varied health issues. This reduces the need for people to visit a physician, urgent care or emergency departments,” said Stefanson. “The upgrade will also allow Manitobans in many communities to continue accessing the support they need from their home or local health centre, reducing the need for unnecessary travel.”

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Telus and UHN deliver services to the marginalized

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Telus’s Health for Good program has launched the latest of its specially equipped vans to provide medical services to the homeless and underserved, this time to the population of Toronto’s west end. The project relies not only on the hardware and software – the vans and technology – but on the care delivered by trained and socially sensitive medical professionals.

For the Toronto project, those professionals are working at the University Health Network’s Social Medicine program and the Parkdale Queen West Community Health Centre. The city’s Parkdale community, in the west end, has a high concentration of homeless and marginalized people.

First launched in 2014, Telus’s Health for Good program has delivered mobile clinics to 13 Canadian cities, from Victoria to Halifax. Originally designed to deliver primary care, the program pivoted to meet the needs of patients in the COVID-19 pandemic, said Nimtaz Kanji, Calgary-based director of Telus Social Purpose Programs.

Angela Robertson of the Parkdale Queen West Community Health Centre (CHC) asserted that marginalized people are particularly susceptible to the spread of COVID-19, as they don’t have access to the basic precautions that prevent its spread.

The clinic is located near a Pizza Pizza franchise; homeless people shelter under its overhang on the weekends, she said. Some have encampments under nearby bridges.

“The public health guidelines and requirements call for things that individuals who are homeless don’t have,” Robertson said. “If the response calls for isolation, that suggests people have places to isolate in.”

And in the shelter system, pre-COVID, the environment was very congregate, with many people in the same physical space, said Robertson. Some homeless persons, in order to keep themselves safe, have created encampments, and the city has opened up some hotel rooms across the city to create spaces for physical distancing.

Even proper hand-washing and hygiene becomes a challenge for the homeless.

“COVID calls for individuals to practice constant hand-washing. Oftentimes, individuals who are homeless use public washroom facilities that may be in restaurants or coffee shops, and many of those spaces are now closed. So there are limitations to accessing those facilities. It’s not like they’re in a community where there are public hand-washing facilities for people who are homeless.”

The mobile health clinic allows the CHC to take “pop-up testing” into communities where there is high positivity and where additional COVID testing is needed. The CHC can take testing into congregate sites and congregate housing to provide more testing, Robertson said.

“The other piece that we will use the van to do is, when the vaccine supply gets back online, and when the health system gets to doing community vaccinations … we hope that we can be part of that effort.”

COVID has contributed to a spike in cases of Toronto’s other pandemic: opioid overdoses. Some community members are reluctant to seek care because of the stigma attached to substance abuse; and COVID has a one-two punch for users.

The first rule of substance abuse is, don’t use alone; always be with someone who can respond to a potential overdose, ideally someone who can administer Nalaxone to reverse the effects of the overdose, Robertson said. “It’s substance abuse 101,” and the need for social distancing makes this impossible.

Secondly, COVID has affected the supply chain of street drugs. As a result, they’re being mixed increasingly with “toxic” impurities like Fentanyl that can be deadly.

The van itself is a Mercedes Sprinter, modified by architectural firm éKM architecture et aménagement and builder Zone Technologie, both based in Montréal. According to Car and Driver magazine, the Sprinter line – with 21 cargo models and 10 passenger versions – is “considered by many to be the king of cargo and passenger vans.”

Kanji said the platform was chosen for its reputation for reliability and robustness.

While the configuration is customized for each mobile clinic, it generally consists of two sections: A practitioner’s workstation and a more spacious and private examination room, so patients can receive treatment with privacy and dignity, Kanji said. The Parkdale clinic is 92 square feet.

“While the layouts vary across regions, they typically include an examination table and health practitioners’ workstation, including equipment necessary to provide primary healthcare,” the Telus vice-president of provider solutions wrote in an e-mail interview. The Parkdale Queen West mobile clinic is designed for primary medical services, including wound care, mobile COVID-19 testing and vaccination efforts, harm reduction services, mental healthcare and counseling.

The clinic equipped with an electronic medical record (EMR) from TELUS Health and TELUS LTE Wi-Fi network technology.

Practitioners will be able to collect and store patient data, examine a patient’s results over time, and provide better continuity of care to those marginalized citizens who often would have had undocumented medical histories.

The EMR system is Telus Health’s PS Suite (formerly Practice Solutions). It is an easy-to-use, customizable solution for general and specialty practices that captures, organizes, and displays patient information in a user-friendly way. The solution allows for the electronic management of patient charts and scheduling, receipt of labs and hospital reports directly into the EMR, and personalization of workflows with customizable templates, toolbars, and encounter assistants.

But like others tested for COVID, it’s a 24-48 hour wait for results. Pop-up or not, how does the mobile team get results to patients who have no fixed address?

The CHC set up a centre for testing in a tent at the Waterfront Community Centre. Swabs are sent to the lab. “We are responsible for connecting back with community members and their results,” Robertson said.

“This is the value of having Parkdale Queen West being in front of the testing, because many of the community members who are homeless we know through our other services, and there is some trust in folks either coming to us to make arrangements to collect their results, or we know where they are.”

This is a key element of the program, said Kanji – leveraging community trust. In Vancouver downtown east side, for example, where there is a high concentration of marginalized members of the indigenous community, nurse practitioners are accompanied by native elders in a partnership with the Kilala Lelum Health Centre.

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