Canada News | SNC- Lavalin Scandal | Electric Cars | Sluggish Economic Growth | Canada Stock Market


This is the last weekly news video of KOCA Network TV in February from Vancouver. It’s a great motivator for us if you press the “like” and “subscribe” buttons. In Canada, one of the world’s three largest oil reserves, motorists have recently become more interested in electric vehicles. However, the percentage of Canadians buying electric cars is one out of eleven. Key factors that prevent drivers from easily switching to electric vehicles are first, it costs up to $15,000 to purchase an initial vehicle. Secondly, only 400km can be traveled once the car is fully charged, based on the high-priced model. Third, electric charging stations are not as convenient as oil filling stations.
Lastly, it takes at least 30 minutes to charge. Despite the main points of concern to the drivers mentioned above, one of the main reasons for paying attention to buying an electric car is the huge fuel cost savings. The chargeable cost of 100km is about $10 compared to the oil consumption model. We can save $3000 to $5000 a year, and for reference, it is analyzed that the electric car is most efficient at 21°C and is suitable for drivers whose mileage range is 20km to 30km per day. Last year, Canadian economy was in a year of near stoppage, especially in the last three months, and it was an extremely depressing period that could not reach the point that economists had expected. According to the Canadian National Statistical Office, the economic growth rate in the fourth quarter of last year was 0.1%, which is far lower than 0.4% of the annual economic growth rate and experts say that it is far behind the predicted the annual growth rate of 1%. The main reasons behind Canada’s economic growth last year are firstly, oil prices and consumer spending declined, as well as a fall in housing prices and business investment index, which have fallen sharply since 2015. In addition, conflicts with the US over trade agreements last year and the Canadian central bank’s rate hike were enough to turn the Canadian economy into uncertainty, and business investment has shrunk sharply. Economists say the Canadian economic growth rate is approaching 2% this year and the Canadian central bank expects a 1.3% annual growth rate. Jody Wilson-Raybould, former Minister of Justice, announced last week that she had experienced political disruption regarding the SNC-Lavalin bribery investigation. Her testimony addressing the engineering company headquartered in Quebec, Canada lasted three hours. The repercussions of her disclosure are getting bigger. The current government’s Prime Minister, Justin Trudeau, and his key cabinet members have denied any interference in the investigation, but Wilson-Raybould said that she received enough pressure and obstruction from the influential people in the current government to be unable to conduct her job as an attorney general. Canada’s giant oppositional party leader, Andrew Scheer, has repeatedly demanded the resignation of Canada’s prime minister, while urging a fair investigation by a completely independent judiciary, such as the RCMP. The Canadian stock market ended the past week with a slight pause after the breakdown of nuclear arms negotiations between the United States and North Korea, and the Canadian dollar against the US dollar was slightly weaker than the previous week due to the drop in oil prices, as it was slightly more than 75 cents over one US dollar. This was KOCA Network TV from Vancouver, Canada.
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