00:03:25.500This is not like a demand issue that we had during COVID where people simply walked away and all jumped in their homes and didn't move anywhere.
00:03:35.060This is very different in the sense that what we have is oil in complete backward, what's called backwardation.
00:03:42.280It means the price that you see on the markets is completely disconnected from the price that people are paying to actually buy those barrels of crude.
00:05:00.920And of course, with the federal government temporarily giving away its 10 cent excise tax, maybe even Monday.
00:05:07.760So the 170s that we're going to see on Sunday will be the high 160s, mid 160s by Monday.
00:05:15.740That's going to stay until September the 7th.
00:05:17.340At least that is the plan with respects to the excise tax.
00:05:21.340But that is not going to guarantee, Mark, that prices aren't going to shoot through the roof because we're dealing with a major supply shortage.
00:05:29.600And, you know, the head fake by the markets is not going to satisfy the fact that, you know, in two or three months from now, because all the damage that was done over there, no one's getting back on their feet anytime soon.
00:05:41.400But if I hear you correctly, if people can hold out on filling up Saturday, they're going to get some relief by Sunday, correct?
00:05:50.660Correct. And even better on Monday because the government's giving away its excise tax,
00:05:55.060the 10 cents, which in my province of Ontario is about 11.3 cents because the federal provincial
00:06:01.140governments add taxes to act taxes. And it's a little bit of a give back in terms of the amount
00:06:06.580of money they've been stealing from the public by imposing 13% on the higher price as they've
00:06:12.020been doing since the beginning of March. And speaking of that cut in the excise tax
00:06:17.620uh coming so near to what we're seeing now the events in the gulf do you think that the government
00:06:25.300will curtail that cut in the excise tax considering that the global prices are expected to come down
00:06:34.740eventually assuming that what's happening under gulf continues to go in the right direction
00:06:41.700the opening of the closure of the gulf is immaterial now this is going to be these are
00:06:45.620are going to be high prices going for the next several months. So July or August, before we get
00:06:50.360down to where we were before this whole thing began, at least. So the damage to the infrastructure
00:06:57.020that produces oil, that's everything from refineries, producing diesel, gasoline, to
00:07:03.020LNG plants in Qatar that have been knocked offline and will be offline for a couple of years.
00:07:09.160It really means that we're looking at a hyper, you know, inflation on the price of oil, keeping those prices much higher than expected.
00:07:18.640So whether the government does it or not, here's the big deal.
00:07:22.520I mean, in my province, again, of Ontario at 13%, Quebec 14.975, Atlantic Canada with the exception of Nova Scotia 15 and then 14%.
00:07:34.320So, you know, they're picking up three, four or five cents on every litre, given that the price is so elevated compared to where it was before.
00:07:41.520We think, you know, where we were at the beginning of the end of February, prices have gone up about 40 to 45 cents a litre.
00:07:49.620So the federal GST of 5% on that additional amount gives the federal government two or three cents a litre.
00:07:56.120And for the provincial government, four or five cents a litre.
00:07:58.520So, again, you know, they can withstand a little bit of revenue shortage because they're actually making a lot of money, a windfall, if you will, because of the GST being applied to the higher price, which, of course, some people don't bother worrying about since, of course, they drive EVs or they live downtown and they get their groceries and all their supplies, as we know, by, you know, by pixie dust and by storks.
00:08:22.920And considering the upheaval globally in the price of oil, you would think that that would provide some incentive to our government in Ottawa to set aside the regulatory burden of building infrastructure that the country so desperately needs.
00:08:42.940We know that there's a memorandum of understanding between Alberta and the feds.
00:08:48.540But at the end of the day, the demands that the federal government is making in terms of decarbonizing our product are still proving to be very onerous and not very attractive to investors.
00:09:01.140So, you know, despite all of this happening around the world, we haven't really changed our approach all that much under Mark Carney, have we?
00:09:55.200The ones that have have been damaged badly, the manufacturing sector, forestry sector, mining sector, and yes, the petroleum, oil and gas sector.
00:10:02.680So if you want to really, as it were, because no dog would do this, dump in your cradle, in your kennel, then go ahead and by all means do it and keep voting for it.
00:10:12.020Because what you're voting for, and we've talked about this many times for the years, Mark, we've seen the decline.
00:10:19.220I'm not laughing because I think it's amusing.
00:10:22.200I think the ignorance and the willingness of people to go along with more of this net zero nonsense ESG, I mean, proven to be fraudulent, proven to be fundamentally damaging to those economies, whether it's Britain or Germany.
00:10:37.920Now we're trying to impose here in Canada and pretend that we can get a pipeline built by, you know,
00:10:43.300pretending the only pipelines that we're going to have in the world is called decarbonize
00:10:47.820because at some point down the road, someone's going to want to buy.
00:10:50.380No, they don't give a damn about that stuff.
00:11:03.820It's very much applicable to the Canadian electorate these days.
00:11:07.460And it's interesting to see the hype around Carney continues with Time magazine, recognizing him as one of the most influential people in the world.
00:11:15.780And you just have to separate the fact from the fiction here, you know, because I think Pierre Polyev has done well to point out the huge gap between the fanfare surrounding Carney and the PM's actual accomplishments.
00:11:30.500if you look at what he did as governor of the bank of england and then in canada with the money
00:11:37.300printing the carnage he caused in that country before coming back to canada um what do you make
00:11:45.620of this i it just it's just amazing how if you've got the media on your side you can perpetuate a
00:11:52.260kind of glow that is entirely undeserved i think what do you think been there for over a year
00:11:59.140hasn't proven to do anything he reminds me of that old skit in uh looney tunes bugs bunny leopold
00:12:04.660leopold yeah the great white guy walks through this like you some he walks on on water i know0.98
00:12:11.140some people believe that because fundamentally canadians have become extraordinarily ignorant
00:12:15.460in understanding what this is all about it used to be a time when the economy was in decline you
00:12:19.620got shown the door um but canadians are willing to tolerate that because they're in large part uh
00:12:24.820many people are grifters mooches uh if they can get something from the government free this free
00:12:29.060free that, they're going to go along with it or because they can pretend that Donald Trump is
00:12:32.720the bane of our existence. I got to tell you folks, you want to talk about how you dumped on
00:12:38.820yourselves? The Canadian dollar is no stronger today than it was at the beginning of this energy
00:12:44.480crisis. And we are the fourth largest approval reserves in the world, but no one takes us
00:12:48.980seriously. We know that we can't get our product to market and that's cost you and I an extra 35
00:12:53.800cents a liter. And yeah, for the trendies who don't, it's costing us 75, 80 cents a liter
00:12:58.180when it comes to the cost of diesel that delivers your food.
00:13:00.840So unless, of course, you're into granola and maybe grasshoppers and other insects,
00:13:06.840which I'm sure was a big fan, many liberals were big fans of a little while ago.
00:13:12.120The reality is that you're paying four years of contempt for the very things that have made this country great.
00:13:18.960I'm not surprised we tear down institutions. We disrespect our past.
00:13:22.940We're so willing to be able to push our woke agenda.
00:13:53.240When we elbows up, it's more like ankles up.
00:13:56.560I mean, if Carney does have a superpower, it isn't having an ability to completely ignore numbers, you know, like $100 billion deficits and a trillion and a half debt, which is what we're headed for by 2030.
00:14:13.600I mean, none of these numbers seem to faze him at all.
00:14:16.240you know, he still has, he still puts out this air of confidence like everything is fine. And yet
00:14:21.180when you look at what's actually going on, you don't even have to dig particularly deep into
00:14:26.040the numbers to know just how bad things are in Ottawa in terms of the state of our economy. And
00:14:31.860now, of course, we've fallen out of the top 10 in terms of our economy, with Brazil now taking over
00:14:37.640in 10th spot. So things are not going well. But you certainly wouldn't know it by listening to
00:14:43.360media which seems to focus all its attention on trying to get bier poly have to quit you know
00:14:49.760to trying to eject him out you know it's like everything is topsy-turvy rather than having a
00:14:56.800media that's holding the government to account we have them absolutely obsessed with bier polyev
00:15:04.400well the same media has its uh its winners and its losers it has its select group i mean there's
00:15:10.160a couple of media i'll mention them i'm cbc i won't deal with uh french or english and they
00:15:14.880can't quote anyone else um we've seen globe and mail we've seen toronto star all these folks have
00:15:20.480one thing in common media grift they take money from the money from the government and they know
00:15:26.160the conservatives will get rid of that and force them to be more competitive and more aligned and
00:15:30.000do their investigative journalism but here are you know example i've given you uh intel that
00:15:35.040is extraordinarily important to 93 percent of canadians who are smart enough to drive an
00:15:38.800internal combustion engine for whom energy prices is ubiquitous i've given you a heads up and these
00:15:45.120folks i've seen them do it they'll listen to what i say on another station and grab it as their own
00:15:49.360give no credit and will refuse to have me on because they don't like my stance on net zero
00:15:53.840they don't like the fact that over nine years we have proven in spades that following esg
00:15:59.920following the woke agenda and following net zero has undermined canada significantly there are other
00:16:06.000factors too over migration and whatnot but this is one of the main drivers that has pile driven
00:16:13.040the canadian economy to the ground and they've been willing and paid parties to it so don't
00:16:18.560expect it on cbc anywhere they call this morning i just ignore them because frankly at the end of
00:16:23.120the day their own interest in one thing we don't care about gasoline price we care about electric
00:16:27.680vehicles so it's kind of hypocritical for them to actually suddenly be concerned about that's
00:16:31.120true of the globe and mail it's editorial board which didn't have a problem with a trillion
00:16:35.120dollars that left this country, nor did CBC, nor did the Toronto Star. So shame on them.
00:16:39.200And if you want to be socialist, that's fine. But admit you have a conflict of interest. You're
00:16:43.600paid 30,000 bucks a head by the federal government to push their nonsense. That's why we don't have
00:16:48.480any objectivity. That's why Pierre Polyev is standing up to them. And that's why Dan McTague
00:16:52.640has no trepidation, was standing up to them either. And yet now they have a majority government.
00:16:58.160And so it looks like we're stuck with them for a few more years, possibly.
00:17:05.120Oh, yeah. Just wait till welfare checks no longer get honored. I mean, as I said, check your place out. Go downtown Toronto. Half those buildings are going to soon go under power of sale. Half of them are worth a third less of what they were a year and a half ago. Your food prices are going through the roof.
00:17:23.260no one can afford decent meat, much less fresh produce. There is no metric that one can trot
00:17:30.940out other than government jobs or government funded initiatives where there is anything
00:17:36.940positive. The construction industry is dead. The manufacturing industry, auto in particular, is
00:17:41.980dead. The oil and gas sector were not for provincial governments, would be pretty much
00:17:46.940dead and cannot respond to the needs of the world. Our youth know they're in big trouble.
00:17:51.740we've snuffered them. And if you're over 60 years of age and smugly walking around with your little
00:17:55.740pensions, shame on you. You have destroyed Canada. It's unpatriotic. You're anti-Canadian
00:18:01.100because you're very selfish. How do people support Canadians for affordable energy?0.81
00:18:06.540Yeah, come to our site, affordableenergy.ca. You'll get the gas price predictions well in advance.
00:18:11.340You can also see some of the perspectives. I'm not fooling around here. I've done many years
00:18:15.020in politics and in the private sector. I work in both languages across the country and I can reach
00:18:20.380a number of constituencies out there but the reality is we need their help and your help to
00:18:24.700continue providing your ideas uh come to the site become a member become a follower and learn as i
00:18:31.420have that uh experience there's no substitute for experience in this case and uh even uh the uh uh
00:18:38.540the much learned um you know uh kings uh that run this uh this country the mark carnies of this
00:18:44.860world are in fact quite vulnerable when you look at it under closer scrutiny and you put them up
00:18:49.580up against the reflection of a much stronger policy position, you realize just how bad it is
00:18:56.040and how bad the country's become and how poorly it is being led, despite those out there who want
00:19:00.980to cheer mediocrity on. Dan McTague, thank you so much for coming on the show. We always appreciate
00:19:06.440it. Good to be here, Mark. Thanks for having me. If you enjoyed this show, consider supporting
00:19:11.000great independent journalism by becoming a premier member of Juno News. Go to junonews.com