Canadians blowing their savings to survive while Carney chokes the golden goose

追加: 2026-05-30

[00:00:00]Canadians sucking their savings dry and whipping out credit card to make ends meet. This is more and more we share this story over and over and over again.

[00:00:08]And yet, you know, the messaging out of the government is affordability has never been so good. Yet, you know, new survey shows 95% of Canadians feeling financial pinch from rising costs, food, housing, utilities, and gas for the car.

[00:00:23]And um and they're, you know, they're doing whatever they can. 49% reducing their spending, cutting back on everything from groceries, going out to holidays, home heating, cooling, TV subscription services, and I've had friends reach out to me and say, "Well, I can't come right now because, you know, I I don't really want to spend the money on gas." I mean, we're making decisions about driving across town because you don't want to spend the money on gas. 22% of delayed purchases.

[00:00:48]That includes everything from renovations, uh, part, you know, like buying things for your house, clothes, shoes for for kids, home improvements, repairs, 10% using their credit cards, and that's a slippery slippery slope. We've already know that some there's a stat out there that 50% of Canadians are just, you know, at the at the breaking point, not being able to m meet their monthly obligations. mortgage resets coming for many of them too.

[00:01:18]Uh the worst part is 91% of the respondents feel they have no control over their financial situation.

[00:01:23]And it just it just seems like new tax, new tax, you got to sacrifice more industrial carbon tax, you know, like the prosperity, oil for food. I mean, I'll let you go on that Ian, but I mean, you said that go back with what George Bush said. Oil for food.

[00:01:40]>> Um well, it was Yeah, it was after that, wasn't it? I don't know if it was George HW Bush. It was in the aftermath of um his war against Iraq to liberate Q8.

[00:01:51]Then um the UN oversaw the oil for food program which was cuz they had very heavily sanctioned oil obviously cuz Saddam Hussein was still in power and was still a lunatic that wanted to destroy everybody around him and conquer countries in his uh neighborhood. So the idea was we'll let you sell your oil on one condition that it's uh it's used for food. So we'll take your oil and we'll give you food so that we can um prevent a famine.

[00:02:21]So I mean Mark Carney hates oil, doesn't want us to sell oil or the Liberals don't. But maybe they could agree to an oil for food system where just so we can survive, you know, just so that there isn't a famine here in Canada, maybe we can sell it just so we can eat.

[00:02:40]It seems odd, right?

[00:02:43]Um, and then you know, you get this that that's that story that goes out there.

[00:02:46]And then this story from CTV, highest proportion of people say 2017 since 2017 say Canada's on the right track.

[00:02:55]How do those two things square each other? Like, how do they support each other? They just don't make sense. It's like Mark Carney standing up.

[00:03:01]Affordability has never been so good since the last decade. and Steve McKinnon here. Here here how >> he's just in Ottawa now. He's in Ottawa now talking or he was like half an hour ago talking about um build Ottawa homes or whatever nonsense name he's given to that uh scheme that does nothing. And he one of his comments was um the median Canadian wealth is higher than the American median wealth. He's like you don't think about that a lot, huh? But that's true because we're Canadians and we care about each other.

[00:03:36]So again, I mean it depends which reality you choose to inhabit. If you choose to inhabit Mark Carney's reality and the elbows strong reality, then yeah, happy days. This is from the Abacus poll as well. And Abacus, a lot of people are inclined, aren't they, to dismiss these polls and just say it's a lot of bollocks. Like they're all just liberal fanboys. Anyway, read about Abacus.

[00:04:01]abacus are kind of they've gone out on a limb to say that uh other pollsters have been underounting conservative um support that they get that wrong and they overestimate how strong the liberals are and Abacus has come out with this poll and they've which also has the the liberals 13 or 12 or 13 points ahead. I mean, it's it it I know lot some people that makes them feel comfortable and it helps them sleep at night to think that these polls are all just lies.

[00:04:31]Alternatively, it's true. And that's Canada. That's those are your countrymen. They do actually really like Mark Carney.

[00:04:42]Energy. Here's a here's a a thing from the um from Labrador, the premier of Labrador. listen to what he has to say about energy. And this is what this the point that Ian and I try to make all the time, how important energy is. Oil is food. Listen to what he says and listen to the the consequences of what he says.

[00:05:02]>> Well, I think that that's what negotiations are for. And if I go back to the the whole comment about more value, I think one of the flaws of the existing was that it didn't consider the economic benefits that might be available to the province of Newfaland and Labrador if we retain more power, if we developed our own industries. If you look at some of the statistics, for example, that were in the report, one that clearly jumps out is the amount of mining development in the province of Quebec versus the province of Newfaland and Labrador.

[00:05:34]Quebec's mining has grown by 125% while Newfaland and Larabradors has grown by 45%. They're both in the same Larabador trough. The reason why Quebec is so much higher than ours is because they have had access to power to develop those things, right?

[00:05:49]>> And that's why it's very important for me to make sure we do that economic analysis and that needs to be part of this equation. So it's not just about how much can you sell your power for, but what is that economic value of developing your own industries, creating employment in our own province, and everything that that will bring. That's where this has to has to be looked at.

[00:06:10]So there's a lot work to be done here.

[00:06:14]Newlanders again with common sense. If you have energy, you can build things.

[00:06:20]You have energy, you can create industry. If you have energy, you can feed your people.

[00:06:26]Seems seems like common sense. Oil for food. If you're going to trade, what what do you use for your body? Like what do you need for your body to move to get up in the morning to what do you need to do? You need to put energy in it. You need to put food into it. Same thing you need to put to an economy. You need to put food into it.

[00:06:44]And that is energy. You need to put energy into the economy. And you turn that energy actually into food because the tractors in the field, the harvesting, all that stuff, oil is food.

[00:06:54]And yet in Canada, we fight against feeding our people. And right now, we have record lineups in the food banks.

[00:07:03]We have half Canadians now having a tough time meeting their monthly obligations. Oil is food.

[00:07:12]As Albert Einstein said and figured out, uh, energy is or everything, life, mass, everything is energy, isn't it? So, it really could not be more fundamental.

[00:07:25]It's You don't have to stretch the metaphors too far, do you? When you're when you're standing up in defense of energy. I mean, how weird is that anyway? It's like standing up in defense of uh I don't know, honesty or sunlight or something like that. It's like standing up. It's like, why does anybody even need to stand up in defense of that? But yeah, it's not it's not a difficult task, is it, to defend energy?

[00:07:49]Well, if the Liberals had control of the sun, they might turn it off during the day.

[00:07:54]I mean, I have no idea. Like, it seems like >> only make it shine in certain places that pay their their sunshine sunshine price.

[00:08:01]>> We're we're introducing the sunshine price.

[00:08:06]>> Most nations must be just almost like frustratedly angry with Canada to all this abundance and we squander it. We had Melissa Lanceman on last week and and he was used that word squandered.

[00:08:18]squandered the opportunity. We continue to squander that opportunity. Such a rich nation. And here's Tim Hodgson here, Canada's energy minister says he's highly confident that the Alberta oil sands companies can absorb that cost of building carbon capture. Here they go defending this because the companies are going to start pushing back against uh and he's saying, you know, that those extra costs of doing business in Canada, carbon tax and carbon capture compared with elsewhere in the world. He admitted the oil sector was not involved in the talks about carbon tax and carbon capture schemes. Why would they be, right? Hodson's comments come after Senovous Energy, John McKenzie joined other oil executives in attacking the Liberal party's commitment to these schemes. Things like the industrial carbon tax are things that make us uncompetitive and those are the things that need to be reformed or removed if we're going to form any capital in this in the industry in a meaningful way. So what's the response from Tim Hodgson?

[00:09:12]Yeah, you make enough money, you can pay for it. No reasoning as to why we should pay for it. We talked to um Melissa Lanceman. Is is there any countries demanding carbon capture? Is anybody refusing energy at this point because it doesn't have carbon capture attached to it? Mark Carney says there is. Has he shown one contract? Has Tim, this is Tim's lame excuse. Well, you can afford it, but Tim, it's the Canadians that are paying for it. It's Canada that pays for it.

[00:09:39]It's Canadians paying for it. And we just showed you they can't afford it.

[00:09:43]They cannot afford it. Sure, you can afford it, but they can't. That's why they're standing in food bank lineups.

[00:09:51]>> He said something. I mean, it's it's if if you can be bothered, if you can tolerate, Mr. Hodson, it's worth reading his comments to Bloomberg. He says something about um the carbon capture thing is going to be all right. actually it's going to be all right because the technology is improving and it's getting to the point where it's actually quite cheap and easy to deploy it.

[00:10:17]How is that? You know, we're talk we talk a lot about investment here, don't we? Not not just you and you and me, but um also Hodgson and the Liberal Party.

[00:10:28]They're always talking about investment, the importance of investment.

[00:10:31]>> Would you make an investment of millions of your own dollars? Let's assume that you're a bit you're an investor. You're looking for somewhere to park your cash.

[00:10:38]>> Well, let's just say you're sort of a a middleweight investor there and you got millions to chuck around and you like energy. Who wouldn't at a time like this? You've seen the news. You think, "All right, energy then. That's where it's at." Would you listen to Hudson there say, "Oh, yeah, it's fine. The technology is getting better, so it's not going to be that bad." Would you hear that and say, "Yeah, go on then.

[00:10:58]Take my millions of dollars."

[00:11:01]What does he think he's doing? Does he think this is how a serious country operates?

[00:11:06]You know, this is not even how a serious uh florists operate. This is not how a serious barberh shop operates, but this is how Tim Hodgson's and Mark Carney's Canada operates. It's just like it's just embarrassing. It's just amateur-ish. And he's like the he's the hardcore private sector guy that's supposed to understand this stuff. And he comes out with this sort of vague waffle about all the technology is going to do it. Don't worry about it. I'm really confident myself. All right.

[00:11:36]Well, I I'll give you millions of dollars then, Mr. Hodson. I I I just pitiful.

[00:11:42]>> Yeah. No logic as to why we have to do it when nobody else is doing it. Why Why should Canada do it?

[00:11:48]>> Why? Why? That's even a a child. Um I have a four-year-old granddaughter that's knows that question better than most. Why? Why, Tim? Why? Why?

[00:12:00]Uh there's some critics coming out though price Alberta must pay for abandoned carbon tax agreement not big enough liability. That's from a critic.

[00:12:07]A Canadian academic has warned the cancellation fee built into Alberta's carbon tax scheme is not a big enough liability to dissuade Alberta from abandoning the agreement down the line.

[00:12:16]And that's Professor Nicholas Rivers.

[00:12:18]The big concern that this doesn't properly address is that pipelines are reversible and policy is very reversible. According to the Alberta government and Tim and energy minister Tim, the total liability for abandon deal is capped at 1.2. two billion. So they want this to just be locked in there and they just want it to be ground into the dirt, right? Like without realizing that the people paying for this is the Canadian taxpayer. That's who pays for this. The Canadian taxpayer pays for this.

[00:12:46]>> Why do you continue to want to punish?

[00:12:47]We we we gave you an idea. Mark Carney and Tim charged no industrial carbon tax, no carbon capture tax. As it leaves the port and goes into another country, add a fee to it. add a carbon capture fee to it or whatever you want to call it. Add a fee whatever you collect and you can go build a carbon capture plant or do whatever it is you want. Add the fee at the port to the foreign foreign countries. Then take that money that excess money that the foreigners pay for that premium and then invest that in there and then you can prove to us that people actually want it and then the foreigners pay for it not Canadians.

[00:13:24]How's that? That seems like a a nice workaround. put your money where your mouth is. In other words, not something that he's known known for doing.

[00:13:33]>> In fact, he likes his money >> at the opposite of where his mouth is.

[00:13:37]His mouth is all about Canada strong and all rest of it. His money is in the United States.

[00:13:41]>> You know, he doesn't put his money where his mouth is. So, obviously, he's not going to do that.

[00:13:45]>> That is the simplest way to do it. And I would say that if I was Daniel Smith right now, that's what I'd say. Or anybody else, I'd say, "Okay, so people want this carbon capture. You're saying that's why we need to do it. People want it. Great. They can pay it. Show us that they're going to pay it. They just pay it at the port whenever it's loaded on the ship. That's the price of oil, the world commodity price of oil trading in US dollars plus carbon capture. Take that profit, that carbon capture piece that they did and invest it in your whatever you want to invest it in buffoonery >> and you can have a maybe give them a six-month trial. We'll give them that long. And if nobody buys the oil, and by the way, nobody would buy the oil, then we can say, "Okay, stop." Now, >> you know why? Do you know why? Because those people >> those people aren't captive. Those people haven't had their democracy thwarted. Those people can choose not to. Canadians stuck. Stuck.

[00:14:46]I would say though in this uh this story in the Globe Mail, I did I think actually we both chatted about this, but when I was in defense of Danielle Smith when I was saying that she was a smart cookie, this is exactly the kind of thing that I meant when I was talking about how Sheila fiddled it somehow in the background that it's easy to walk away from. Relatively easy. I mean, that's about as easy as you could want.

[00:15:08]>> It does look like a lot of money, but in the game of oil and gas, that's that's not really all that much money, is it?

[00:15:15]not in the oil. So theoretically, >> and as this guy says, it's excellent this line where he says, "Pipelines are irreversible. Policy is very reversible." That's what we said months ago. If you just get it built, >> you can change the bollocks that surrounds it. That could that can be changed. The pipeline, the fact on the ground can't be changed.

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