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'Unplanned thermal generation outage' among issues leading to Alberta grid alert
The Alberta Electric System Operator declared a grid alert for the province on Monday evening, with officials saying a number of faults led to the bulletin.
Anti-poverty organization Oxfam called Monday for governments to impose a one-time 99 per cent tax on the world's billionaires and use the money to fund expanded production of vaccines for the poor -- part of an effort to combat global inequality widened by the coronavirus pandemic.
The ranks of the super-rich have swelled during the pandemic thanks to ample financial stimulus that pumped up stocks, the group said. Meanwhile, poor countries have suffered more than their share from COVID-19 because of unequal access to vaccines, which have mostly gone to rich nations, Oxfam said in a report aimed at informing discussions at the World Economic Forum's online gathering of political and business leaders this week.
"The pandemic has been a billionaire bonanza," Oxfam International Executive Director Gabriela Bucher said in an interview. "When governments did the rescue packages and pumped trillions into the economy and to financial markets in order to support the economy for all, what happened is a lot of it went into the pockets of the billionaires."
Vaccine development has been one of the pandemic's success stories but Bucher said they've been "hoarded by the rich countries" seeking to protect pharmaceutical monopolies.
Since the pandemic erupted in March 2020, a new billionaire has been minted almost every day. The fortunes of the world's 10 richest men -- including Elon Musk, Jeff Bezos and Bill Gates -- more than doubled to US$1.5 trillion, making them six times more wealthy than the world's poorest 3.1 billion people, Oxfam said.
Meanwhile, 160 million more people have been forced into poverty during the pandemic, Oxfam said, citing numbers from the Forbes 2021 Billionaires List, Credit Suisse's Global Wealth Databook and the World Bank.
Oxfam called for rich countries to waive intellectual property rules on COVID-19 vaccines in an effort to expand their production.
A one-off 99 per cent tax on the 10 richest men's pandemic windfalls could earn more than US$800 billion and be used to fund that effort and other progressive social spending, the group said.
The money "would be able to pay for vaccines for the whole world, have health systems for everyone," Bucher said. "We would also be able to compensate for the damage of climate change and have policies that address gender-based violence," while still leaving the 10 billionaires $8 billion richer than they were at the start of the pandemic, she added.
It's not all doom and gloom. The group noted that the U.S. and China, the world's two biggest economies, are starting to consider policies aimed at countering inequality, such as raising tax rates on the rich and taking action against corporate monopolies.
"The point is extreme inequality is not inevitable and this is why it brings us hope," Bucher said.
Oxfam has long sought to inspire debate at the annual gathering of business and political elites typically held in the Swiss ski resort of Davos. The pandemic forced organizers to put off the event for a second year, instead holding virtual sessions where political leaders will be joined by business executives and campaigning groups such as Oxfam.
The Alberta Electric System Operator declared a grid alert for the province on Monday evening, with officials saying a number of faults led to the bulletin.
The mayor of the municipality where Alice Munro lived for much of her adult life says he would 'consider' amending the monument to the celebrated writer outside the public library in Clinton, Ont., although he does not personally support such a move.
After a dramatic win over Venezuela in the Copa America quarterfinal, the Canadian men’s soccer team takes on Argentina in a David versus Goliath semifinal on Tuesday night.
Prime Minister Justin Trudeau will be gathering with NATO leaders today to mark the 75th anniversary of the defensive alliance as Russia escalates its aggression towards Ukraine.
Green Party Deputy Leader Jonathan Pedneault has announced he is stepping down, citing personal reasons. He said it had been 'the honour of a lifetime' to serve the country as part of the party.
Jason Momoa and Lisa Bonet are officially divorced. A Los Angeles County judge's dissolution of the marriage of the two actors, who had already been separated for years, took effect Tuesday.
Elephants trampled to death a Spanish tourist at a South African wildlife reserve after he left his vehicle and approached a herd to take photographs, police and local government authorities said Tuesday.
The RCMP has arrested seven people and laid 65 charges in connection to a child exploitation and human trafficking investigation.
Experts say opportunities for innovation in women's health care exist in Canada, but investment in research and business is not where it needs to be. Here's how Femtech Canada, an organization launched earlier this year, is helping to close the gender gap in health care.
Would-be homebuyers who backed out of a deal to purchase a B.C. property in a hot real estate market have been ordered to pay the seller the difference between what they offered and what he was able to sell the home for when the market cooled.
Ottawa city councillor Tim Tierney has waited decades for the chance to meet his rock-star idols Nickelback.
A rock 'n' roll legend made an appearance at a popular Vancouver restaurant over the weekend.
A convict who escaped an Edmonton correctional service more than a month ago has been caught.
An Ottawa woman, who has survived cancer and has overcome addiction, has won $70 million with Lotto Max.
Calgary is easing outdoor water restrictions as the city continues work to help its water infrastructure recover following a major feeder main break.
Adam finds out how a giant tortoise walking along a sidewalk is inspiring a woman visiting from Australia.
A wrestling fan from Guelph, Ont. thought he was down for the count after winning tickets to a “once-in-a-lifetime” WWE event in Toronto.
Lacey may look like just another pet chicken on Emily Carrington’s B.C. property. But she has a title her coop mates don’t: Guinness World Record holder.