Markets & Policy

Kkiefuik This photo was taken with Canon EOS 90D, CC BY 4.0 <https://creativecommons.org/licenses/by/4.0>, via Wikimedia Commons Two energy stories landed in my feed today, one out of Washington and one out of Madrid, and at first glance they have nothing to do with each other. In the U.S., the House is expected to vote on a bill meant to keep the power costs of large AI data centres off ordinary household bills. In Spain, the government raised planned investment in its trans

Ursula von der Leyen stood up in Strasbourg Wednesday for her State of the Union address and said she wants to open the door for Canada to become the EU's first "associate member." That phrase will carry the headlines, though I think the bigger story is what Canada and Europe seem willing to build underneath it. The caveat matters, because EU treaties don't provide for associate membership, so member states would have to agree on what it means, and nothing guarantees they wil

Matti Blume, CC BY-SA 4.0 <https://creativecommons.org/licenses/by-sa/4.0>, via Wikimedia Commons In January, Trump threatened a 50% tariff on Canadian-built aircraft and said he would decertify Bombardier’s Global Express jets. This week it became: if you want the U.S. market, build here. Same company and same president, seven months apart, but a very different problem. A tariff changes the economics of selling into a market. A localization requirement changes the operating