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Seven-Bullet Monday - August 21, 2023

Here is your Seven-Bullet Monday

1. A quote I am pondering:

"I would not give a fig for the simplicity this side of complexity, but I would give my life for the simplicity on the other side of complexity." – Oliver Wendell Holmes Jr.

This is a great quote that highlights the difference between basic understanding and deep understanding. Once we understand a subject thoroughly, we should be able to explain it simply. However, too many people jump to a simple explanation of an issue before they fully understand it, and that superficial understanding can lead to wrong interpretations, leading to poor choices.

2. A question I am asking myself:

How can we reduce our carbon tax on fuel?

British Columbia has the highest carbon taxes on fuel in North America. We currently pay over 40 cents a litre in various carbon taxes, and we expect this to increase to more than 70 cents a litre over the next six years. For businesses in BC like ours that consume lots of diesel, the challenge is multifold: how can we use fuel more efficiently; how much renewable diesel can we secure at competitive prices, and down to what temperatures can we use it; what electrical surface mining equipment is available and production-ready; and, can BC Hydro produce and transmit enough electrical power to meet everyone's growing needs?

3. A book I am reading:

The road to character - David Brooks

This book delves into the modern shift from inner virtues, such as character, to external recognition, such as the "Big Me" or "I want to be an influencer". Brooks draws from various biographies, including those of Dwight Eisenhower, George Marshall, and Saint Augustine, to illustrate how individuals throughout history have confronted their weaknesses and limitations to build an inner solid character. The book challenges us to reevaluate the definition of success and strive for a life of meaning and purpose from humility and self-discipline.

4. What I learnt this week

Canada's 2023 wildfires will more than treble Canada's annual GHG emissions.

This year's horrific wildfires in Canada have caused untold destruction and impacted tens of thousands of people. They have also released greenhouse gases at a level double that of the country's entire economy. In volume terms, around 1.5 billion tonnes of carbon dioxide equivalent (CO2e) have been released due to the fires. I don't know how high forest fires ranked in the acute and chronic risks of global warming considered several years ago. Still, they have, sadly and tragically, in many cases, risen to the top, certainly here in Canada.

5. The highlight of my week

Updating our local BC member of parliament on Conuma and fuel taxes

I visited our local member of parliament, or MLA as they are called in BC, this week. The meeting was twofold, to update him on Conuma and how our business is growing and positively impacting the local communities. And secondly, to explain to him the impact of multiple and insufficiently coordinated legislative efforts to raise carbon taxation on fuels. While we support efforts to slow global warming and have ourselves committed to reducing our emissions, the speed at which taxes are rising on fuels is many years ahead of realistic alternative power supply and mining technology to use that power. The net result is significantly increased operating costs and a limited ability to reduce emissions. Many businesses around BC have similar concerns, and we hope that a broad and sustained lobbying effort will result in sensible carbon policies and legislation.

6. Hugh-tips

Crypto volatility

If you, like me, have a proportion of your investments in cryptocurrencies, you will have noted the recent ~10% drop in Bitcoin with some interest or concern. Cryptocurrencies have always been volatile, influenced by regulatory actions, macroeconomic shifts, influential market players, and crypto scams. The potential for significant gains in cryptocurrencies has always come with associated risks, which is why diversification is essential. Secondly, the amount you invest in risker investments like cryptocurrencies should be small enough not to make a significant dent in your total investments, should those investments dive. Thirdly, set your rules for investing in crypto, like investing limit, duration, and risk tolerance, and then stick with these rules, and don't be thrown off-course by crazy price fluctuations.

7. My challenge for you for this week

Tune up your fast twitch muscles

This week's challenge focuses on retaining fast-twitch muscle fibres. As you age, you lose fast-twitch muscle fibres much faster than slow-twitch muscles. Fast-twitch muscle fibres are needed for power, speed and agility. In contrast, slow-twitch muscle fibres are used for exercises like jogging or cycling. Fast-twitch muscle fibres are more than just for playing sports. They are essential to retain agility and reaction speed which has the added benefit of helping prevent falls. Some great exercises to improve your fast-twitch muscle fibres are lifting weights, skipping, agility work, box jumps and racquet sports like pickleball, tennis etc. Remember to warm up properly before engaging your fast-twitch muscles to prevent injury and also ensure you cool down afterwards.

Have a fantastic week.

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