Juno News - Will Carney make a deal in Europe？

00:00:00.000 Prime Minister Carney says Canada will do its part to help reinforce the peace agreement that

00:00:11.840 is bringing an end to the war between the United States and Iran. Now attending the G7 summit in

00:00:18.520 France, Carney says the priorities for the talks include Iran and the war on Ukraine.

00:00:23.960 I very much welcome the peace deal or the ceasefire deal, the 60-day truce.

00:00:30.000 I know President Trump has worked very hard for this, as has the Vice President, the Qataris,

00:00:37.540 the Pakistanis, but all the countries in the region supporting this.

00:00:42.600 So Canada very much welcomes this progress.

00:00:45.240 We'll have an opportunity starting from tonight at the G7 in Evian to see what we and other

00:00:50.880 countries can do to help reinforce this important progress that's been made and also from a

00:00:55.480 broader regional perspective, including in Lebanon and beyond.

00:01:00.000 Now, Carney did not specify what role he expects Canada will play in the aftermath of the war.

00:01:08.500 It could involve being part of an international naval presence in support of reopening the Strait of Hormuz.

00:01:16.520 President Trump posted this on social media.

00:01:19.320 The deal with the Islamic Republic of Iran is now complete.

00:01:23.720 Congratulations to all. I hereby fully authorize the toll-free opening of the Strait of Hormuz

00:01:30.540 and simultaneously herewith the immediate removal of the United States naval blockade.

00:01:36.580 Ships around the world, start your engines, let the oil flow.

00:01:41.320 According to the Iranian government, the country agrees not to build a nuclear weapon

00:01:48.020 and we'll reopen the strait.

00:01:50.420 In exchange, the United States will release

00:01:52.580 billions of dollars in frozen assets.

00:01:56.140 Conservative leader Pierre Polyev says

00:01:58.180 Carney's latest trip is unlikely to improve

00:02:01.940 Canada's trade with Europe.

00:02:03.920 And yes, there'll be lots of grand signing ceremonies

00:02:07.460 and dazzling speeches signifying nothing.

00:02:12.760 But we've had free trade with Europe for over a decade,

00:02:16.480 no thanks to Mark Carney. We have tariff-free access to Europe that we cannot use because the

00:02:22.880 Liberal government blocks the construction of LNG plants and pipelines that would actually get

00:02:28.960 our products to the European market. If Mark Carney wants to diversify trade and get us out

00:02:35.360 of the recession that he created, then he actually needs to do work here at home to remove the

00:02:40.720 anti-development laws his party put in place and that remain on the books so that we can actually

00:02:45.600 ship our goods overseas to Europe. He doesn't need to sign yet another meaningless memorandum

00:02:51.580 that is unenforceable and entirely symbolic. It's actually incredible. After a year of traveling

00:02:57.620 around the world, which we support, the Prime Minister should travel around if he can get

00:03:02.620 results. Mark Carney has not been able to negotiate a single new free trade agreement.

00:03:09.800 Well, despite the sharp fall in oil prices, Canadians can expect only modest relief in

00:03:14.480 gas prices over the next couple of days. The price of oil on the world markets fell sharply

00:03:20.800 to below $80 a barrel. Consumers should see relief of about four cents a liter in a couple of days

00:03:27.440 time. It's time to modernize Canada's rules on nicotine. Alternatives to cigarettes like heated

00:03:33.300 tobacco vaping products and oral smokeless products don't burn tobacco or produce smoke.

00:03:39.080 Now, they aren't risk-free, but the growing body of scientific evidence shows that they have the

00:03:44.980 potential to be substantially less harmful than smoking cigarettes. Now, despite this, Canadians 1.00

00:03:51.200 are banned from accessing this critical information and sometimes even banned from the products.

00:03:57.360 Nicotine pouches remain banned in convenience stores across the country and current laws ban

00:04:02.820 communication about the risk of these products compared to cigarettes. It's absolutely ridiculous. 0.89

00:04:08.680 The evidence is here. The tools exist. Canadians deserve to have the freedom to know about them, 0.73

00:04:14.880 to learn about them, to even just understand them. It's a free country. We should be able

00:04:19.120 to have this information. So learn more about this campaign and our friends over at Unsmoke

00:04:25.180 by visiting their website, unsmoke.ca. And thank you so much to Unsmoke for sponsoring this episode.

00:04:32.360 Our guest is the President of Canadians for Affordable Energy and former Liberal Member

00:04:37.020 of parliament, Dan McTague. Welcome, Dan. Mark, good to be here. Thank you for having me.

00:04:45.700 All right. People should be dancing in the streets as a result of

00:04:49.600 lower oil prices, resulting from, of course, this agreement that was now, I guess, in place

00:04:57.900 between Iran and the United States, assuming it holds. But I guess gas prices will not be

00:05:05.240 falling precipitously at least for the next couple of days right well they have been falling mark on

00:05:14.160 the uh off and on again uh comments that there might be some kind of a deal uh in fact starting

00:05:19.400 last week we had oil and trading in the 92 93 range dropped down to 83 you know within a week

00:05:26.060 so it dropped eight or nine dollars a barrel and we saw that translated into gas price averages

00:05:30.480 across Canada, which you can see here at affordbloomgy.ca, in the $1.70, $1.69 range,

00:05:37.920 we're likely to see a bit of a bump downwards. I call it a ditch, if you will, probably a drop

00:05:44.820 of $0.04 a litre on average across Canada by Wednesday. That's probably as good as it gets

00:05:49.980 because the market now has to figure out why they've been shorting oil for so long and making

00:05:55.160 it not that big a deal despite the oil energy shock. A lot has been lost in terms of use

00:06:01.840 of emergency supplies and the fact that the strait has been closed for such a long period

00:06:07.140 of time, stranding about 20% of the world's potential oil supplies. What we're likely

00:06:12.460 to see now is a remainder of summer well into the fall of higher prices than we're normally

00:06:18.120 used to at this time of year. That doesn't include things like the annual hurricane

00:06:23.480 event that we see through the U.S. Gulf Coast and other factors that could drive up energy

00:06:27.380 prices. But for now, it's good news. It could be potentially good news. The danger is that

00:06:33.020 the damage is done, and it's going to take a long time to fix the backlog, not of vessels

00:06:37.680 to have to get out, but vessels have to get in and countries to be resupplied, especially

00:06:41.680 their emergency supplies.

00:06:44.220 I know that as a member of parliament, you were involved in dealings with Saudi Arabia

00:06:50.740 and the Gulf in general, what is your reaction to the news

00:06:56.720 that I guess this deal is in place?

00:07:00.340 Well, I'm happy, but I'm not convinced it's going to stand. 0.94

00:07:03.520 I don't believe Iran is going to hold to its view,

00:07:06.620 and they have perhaps a different perspective as to what the deal,

00:07:11.700 MOU, or agreement might mean, and that remains to be seen

00:07:16.260 as to how long it'll be before things get back to normal.

00:07:18.900 But even if they were to, you know, see things wide open, no big deals, no mines laid, no shenanigans as far as, you know, this and that or drones flying overhead and threatening, there's been a lot of damage done to the infrastructure.

00:07:35.120 And that backlog I was referring to a little earlier. Vessels have been stranded there for three, four months. They're going to have to make their way out, get repaired, make their way to where their destination was, drop off the loads if they still have them, and then make their way back before there's any type of movement in the oil fields that are the production fields that have also been affected.

00:07:56.560 some of them simply because they had to be shut down prematurely others because they've been

00:08:00.820 damaged so there's a lot of questions that have to be answered about how soon it's going to be

00:08:06.040 before we get back to normal given that we've had what amounts to about a 1.6 billion barrel

00:08:11.160 you know decline in global oil supplies and we know that the United States was dangerously close

00:08:18.380 to running out of fuel the hub for West Texas immediate that delivers the delivery point if

00:08:27.260 you will collection delivery point for a lot of oil in Cushing Oklahoma you know is down to about

00:08:32.220 20 million barrels that's functionally it doesn't work after you know when it goes much below that

00:08:36.300 we also know the U.S. SPR the strategic petroleum reserve is down to about half of what its normal

00:08:43.100 capacity is and had it gone any lower it might not have been able to produce much more all these

00:08:47.580 things mean that there's a real difference mark between the futures markets and the real market,

00:08:55.020 that is the spot market. You want to buy oil today, it's 150 bucks a barrel, not 80, not 79,

00:09:00.460 not 78 or whatever traders think. We know that the market has been subject to an unusual

00:09:06.060 form of what I for chicanery and shenanigans called short selling. And that's of course 1.00

00:09:11.420 done to prevent oil prices and the shock at the pumps going to $5 a gallon in many parts

00:09:16.380 the united states we know the trump administration is extremely sensitive with that it certainly

00:09:21.100 wasn't my first term when i was working you know sometimes there in boston the reality is that

00:09:26.620 we are going to see higher prices for longer as the world tries to get back on track assuming it

00:09:32.700 can do that very quickly and i'm not sure the agreement will hold i hope it does but i i

00:09:38.460 suspect there's going to be a lot of slip between the cup and the lip as they say especially in that

00:09:43.980 part of the world as the world tries to readjust to the fact that it's missing so much oil.

00:09:48.700 I know that the Prime Minister has talked about pivoting towards Europe

00:09:52.300 as far as trade goes. Unfortunately, we're not really in much of a position to sell a whole lot

00:09:57.900 more energy to the continent than we, you know, than we were because of the lack of infrastructure.

00:10:06.380 And so it puts us behind the eight ball right there. I mean, I can't help but wonder

00:10:11.740 what a role Canada could have been playing had we have had pipelines in place and infrastructure

00:10:19.520 in place that would have delivered oil, would have been able to supply oil to the continent

00:10:25.280 throughout this whole crisis and essentially not allow Iran to play the role of, you know,

00:10:34.820 blackmailing essentially an entire continent with respect to its blockade. You know, there would 0.91

00:10:39.740 have been supply from our country. Pierre Polyev has noted that. What do you make of that argument?

00:10:47.700 Well, I mean, it's a lost opportunity. We know that, and we knew this was going to happen.

00:10:51.960 It's just a matter of when that we would wind up in a crisis where Canada couldn't come to the

00:10:56.040 rescue of the world, notwithstanding the fact that it's, you know, wearing its big boy pants,

00:11:01.440 it had a lot more oil and gas than most of the rest of the world, but had chosen over the past

00:11:06.000 10 years, some pretty, well, ridiculous ideas that we could somehow wish these things away.

00:11:11.360 Markets don't matter and fundamentals don't matter and reality doesn't matter. And so,

00:11:16.420 you know, you don't have to take my word for it. When it takes 139.5 or seven Canadian pennies to

00:11:22.560 buy a US dollar, that's inflation. That's destroying the purchase power of every Canadian,

00:11:28.060 including the trendies who think it doesn't affect them. But, you know, in terms of gasoline,

00:11:31.700 an extra 40 cents a liter we don't have the status of the petrol loony the world wants oil and gas

00:11:38.500 and our natural resources they don't come here for our uh you know our trendy cool cute hydrogen

00:11:44.820 or other widgets that uh you know extraordinarily expensive to make are irrelevant uh and frankly

00:11:51.540 not something the world really wants so we have lost our way because we've lost the opportunity

00:11:56.500 because we went down this you know this we were led the pied piper of green net zero led us to a 0.81

00:12:03.140 point where the canadian economy is suffering it's reeling and of course the carny liberals as their

00:12:09.540 predecessors the trudeau liberals did want to do even more they want to do more mous that involve

00:12:15.540 carbon sequestration more carbon taxes more electric vehicle mandates with 75 emissions and

00:12:21.540 that's coming back by the way to destroy what's left of your auto sector so look this was a take

00:12:29.460 moment a take note moment for canadians who four times got it wrong and are now realizing can they

00:12:35.700 really afford a fifth time we continue to play this game of pretending we can be europeans

00:12:42.420 europe is in trouble and canada wants to follow that model and if it doesn't follow the model

00:12:46.580 wants to follow the chinese model all because we want to you know stick poke poke uh donald trump

00:12:52.660 and the republicans in the eye i don't know if that's a very wise thing to do but canada has

00:12:57.140 found itself in an extraordinarily vulnerable position of its own making don't blame us on

00:13:03.460 trump blend us on the folks who went out ankles up sorry elbows up their ankles up now uh and try

00:13:09.220 to say that we could we could do all these things we don't need the world canada's great and

00:13:12.820 and wonderful we can spend all this kind of money the reality is that we've made some really really

00:13:17.380 poor choices and you're about to pay for those dumb choices yeah and melanie jolie the industry

00:13:22.820 minister apparently in china talking to ev manufacturers in that country i mean there 0.97

00:13:28.180 was already intense criticism over the importation of 49 000 of their evs the americans including

00:13:36.180 Democrats in states like Michigan don't want them even crossing the border. Why would she be in 0.58

00:13:42.780 China talking to EV manufacturers? I mean, does she want them to build the cars in Canada? Why

00:13:48.740 would they do that when it's so much less expensive, especially from China's vantage point,

00:13:53.440 where they use forced labor in some cases? Because the current government wants to proceed

00:13:57.280 with 75% reduction in tailpipe emissions of CO2, which is impossible. It's scientifically

00:14:02.600 impossible there's no kind of widget or anything that's been done that even comes remotely by the

00:14:07.560 way the united states tried this they had trillions of dollars they spent uh in the so-called ira and

00:14:12.260 they had uh the inflation reduction act in which they were going to see the california model of a

00:14:17.540 50 reduction in tailpipes well the companies could not produce it it's not practical it's not

00:14:22.560 plausible these people live in a world of magic make-believe but they realize the united states

00:14:27.300 it's over it can't be done won't be done and the guys with the big money who could make those kind

00:14:31.840 of decisions have said, look, Canada, if you want to go this road, not 50, but 75%, you want to have

00:14:37.740 an EV mandate by another name, which is what you're going to be announcing this week, then we're out

00:14:42.160 of here. And Honda's already made it very clear. We're packing up. We till Toyota and the others

00:14:46.480 do the same because it's not very long before you can see the end of the automotive sector. So we've

00:14:51.260 basically pooched the energy sector in this country, prevented it from being what it could

00:14:56.280 be because we said there's no business case, which is total baloney. Now we're destroying the

00:15:00.480 auto sector? How long before the agricultural

00:15:02.460 sector, the mining sector, is it

00:15:04.260 any wonder the Canadian economy is falling?

00:15:06.520 Is it any wonder we're into a recession? Is it any wonder

00:15:08.480 unemployment is going through? Is it any wonder

00:15:10.320 young people want to leave this country? 0.93

00:15:12.440 Voting Liberal, this cult of 0.59

00:15:14.420 Liberalism has far-reaching consequences

00:15:16.820 the likes of which the country is not prepared

00:15:18.560 to accept.

00:15:19.880 The other thing that the Prime Minister said

00:15:22.360 was that Canada will do its part

00:15:24.580 to help reinforce the peace agreement

00:15:26.520 and there's

00:15:28.520 some talk that there will be

00:15:30.480 sort of an international effort to provide a naval support, I guess, in order to make sure that the

00:15:40.400 strait continues to allow free and open transport for transit for these tanker, oil tankers.

00:15:49.680 But do you see Canada as playing much of a role in that?

00:15:53.760 Well, no. We might have some work to do with satellites, McDonnell, Detweiler,

00:15:58.000 satellite uh you know uh there might be some ways of trying to uh you know to provide some kind of

00:16:05.040 support to others who actually have material we don't have it and uh i mean i doubt we'd have a

00:16:10.000 ship that could make its way there without breaking down and uh to do what basically we

00:16:14.960 spend we wiser to spend a lot more time trying to remove the mou trying to remove as we are doing

00:16:21.200 the uh idea that we have to sequester oil that we have to have a carbon tax on it get the rest of the 0.98

00:16:26.240 the rest of the world that'll get and incentivize the rest of the world to move a lot quicker

00:16:29.760 because if you don't want to get your oil out of the straits of hormones get it from canada we can

00:16:33.820 actually provide some answer that but that that's logic that's reality that escapes liberal cultists

00:16:39.780 who don't understand we don't have the resources to do the things we once did in the past because

00:16:44.000 we've chosen this dark path of saying no to the things that make canadians prosperous that makes

00:16:52.220 canada desirable things that make canada unique we want to be strong punch above our weight we

00:16:57.380 need to have our resources and uh those placed in place where we can get them to export we've spent

00:17:01.440 10 years saying no this current iteration of the liberal cult that took over in 2015 is still of

00:17:06.860 the view that we can rely and run an economy on solar power and windmills and hydrogen and uh you

00:17:13.740 know basically unicorn unicorn belching i will use another term for that that's not how you run

00:17:20.200 economy that's how you run the economy economy so whatever we're promising it's hot hot air it's

00:17:24.760 wind it's baloney we can't promise something we don't have you can't give what you don't

00:17:32.760 have and canadians created that away in voting liberal ndp block and green well done but some of

00:17:40.200 the polling is starting to suggest and you probably are aware of that to the degree that we believe

00:17:46.760 what the polls say, that some of the air seems to be coming out of the Kearney government's

00:17:52.440 support base. And it's taken a while, over a year now, and we're starting to see a softening in the

00:18:00.120 Liberal numbers. And this comes at a time when they managed to kind of cobble together this majority

00:18:07.160 by way of war crossing. What do you think this signifies, if anything?

00:18:12.120 well people at food banks if they're voting aren't necessarily happy with their situation

00:18:16.760 and some are still believing that government is the best source of handouts and that's the way

00:18:20.800 in which to arrive but we know mark carney doesn't believe in markets uh so maybe he can get

00:18:26.080 governments to write checks maybe he can get banks to stop investing in canada maybe he can tell

00:18:30.720 people to get lost maybe he can use the canada pension plan rob it some way somehow in order to

00:18:36.020 prop up the canadian economy give the impression that can that the economy is somehow doing better

00:18:40.220 than it really is uh i'm not surprised uh that people are upset i'm just astonished that it took

00:18:47.420 them this long to smarten up and to clue in i don't know if they've been eating smartening up

00:18:51.420 pills but those lines and the food bank lines and the uh destitution many people find themselves in

00:18:56.860 not being able to find a place to stay not of their own making lack of jobs lack of interest

00:19:01.900 in canada eventually these things have come up to uh to have really amounted to something that has

00:19:08.220 all caused us to think twice about being so arrogant it's no longer elbows up it's now ankles

00:19:14.380 up yeah i mean i think the government is starting to realize that the only reason that a lot of

00:19:21.820 these other countries might be interested in a trade deal with canada is because we have a trade

00:19:25.340 deal with the united states and so well the fact that that trade deal with the united states has

00:19:31.420 not happened yet has not been renewed i think seems to be impeding our ability to form trade

00:19:39.260 alliances with europe and asia that we otherwise might have been able to do last word to you dan

00:19:45.500 well we're trading away a relationship with the country because of our own uh you know hissy fit

00:19:50.860 uh we don't like trump so we're going to basically not get involved involve ourselves

00:19:55.420 with any type of trade that's fine we're dealing with somebody who has a different way of seeing

00:19:59.900 things but at the end of the day you're trading away the farm for a few green beans and at the

00:20:04.620 end of the day you know what that means there is no future and unfortunately until canada smarten

00:20:09.420 up and get a better direction in terms of knowing how to engage with the united states as we do for

00:20:14.620 the rest of the world for which we've had a great history until we're prepared to do that and throw

00:20:19.020 this government overboard and get rid of its uh green policies by any other name and net zero and

00:20:24.460 DEI and ESG and all this other nonsense. Until we're prepared to do that, we want to be Tony

00:20:30.260 and Trendy. Well, we're going to continue to suffer. And that suffering is not because of

00:20:34.500 someone else. It's of our own doing. Dan, thank you so much for coming on the show. We appreciate

00:20:40.180 it as always. Good to be here. Thanks for having me, Mark. If you enjoy this show, consider

00:20:45.380 supporting great independent journalism by becoming a premier member of Judo News. Please

00:20:50.660 go to judonews.com backslash straight up. You can find the link below. Helps us do what we do.

00:20:57.540 Thank you so much for tuning in. We'll see you next time.

Juno News - June 16, 2026

Will Carney make a deal in Europe？

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