00:05:17.800That was before Mark Carney, earlier this year, gave the land title of the entire Lower Mainland to the Musqueam First Nations Band, which is anti-oil and gas, and they're already extremely rich and really don't need any royalties from a potential pipeline.
00:05:38.600They already own casinos, they already take a cut of revenues from the Vancouver airport,
00:05:44.900and other direct money given to them by both the BC government and the Canadian federal government.
00:05:51.140They also have land disputes with the Cowichan and the Tawasin.0.61
00:05:55.220And what better way of demonstrating this is your property by blocking a major project just for the heck of it?0.98
00:06:02.280Especially if the Tawasin want it, I guarantee the Musqueam will say they don't want it,1.00
00:06:07.720and vice versa. If the Musqueam want it, the Tawasi can flex their arms and say, hey, actually,1.00
00:06:13.560yes, you may have gotten Mark Carney to sign you over land title to this area, but this comes0.99
00:06:19.380through our territory as well. And we're saying no to the potential pipeline just to demonstrate
00:06:24.980who really owns the land over here. This is going to be a bag of cats. And even the optimistic
00:06:33.540plan for getting this thing built requires $44 billion of taxpayer money. Now, some of that
00:06:41.240might be kicked in by Pembina pipelines, but they're being paid to construct the thing and
00:06:45.320getting a stake. I actually don't think they're kicking in any money really themselves. If anything,
00:06:50.000it's going to be a very small minority of the money, but at least $36 billion is going to be
00:06:56.060coming directly from Canadian taxpayers, whether Canadian federal or Alberta and BC provincial.
00:07:03.540And that is just the start of it. That's if it goes well. They only think this pipeline is going to get started either in October 2027, which is the hyperoptimistic schedule, or it could get started in, like, October of 2029.
00:07:21.760And whenever the government gives you a date range for when they think they are going to start or complete something, the later date is probably the earliest they are ever going to complete it.
00:07:31.220If not, they're going to need a few more years. So right now, based on that, earliest this thing's
00:07:37.040going to get built is 2036. So I don't know why everyone's getting so hot and bothered over this
00:07:43.840thing when we are literally multiple governments away from actually seeing it come to fruition.
00:07:51.120Even the port that this thing is going to cannot currently handle the pipeline, and it needs
00:07:56.840another 10 billion dollars of upgrades in order to take it in. I just want to jump to now a clip
00:08:03.400of Danielle Spith being asked why now does the government have to step in to make sure this1.00
00:08:09.260project can even get underway because that is a big problem. The private sector is barely involved
00:08:15.760in it in any way and Pemna Pipeline is only involved in it because their business is
00:09:42.660about him wanting to take on a larger and larger share.
00:09:45.500This is not exactly inspiring, considering that right now the only private sector stake is 10% at the moment.
00:09:54.960And also, isn't it kind of awkward to be saying all this when you're standing right next to the guy who's making the private sector not want to put in more money?
00:10:04.980The only reason Pevinda Pipeline is putting 10% in is because the provincial and federal governments are going to be putting in billions of taxpayer dollars to get it constructed.
00:10:16.480And they could still only get 10% into the pot from the private sector.
00:10:21.920Now, they're saying, well, First Nations are going to have a stake in it.
00:10:25.220I really doubt First Nations are going to be putting any money into it.
00:10:28.080So that's just going to be more taxpayer money.
00:10:29.680And even if they were putting any money into it, that's still just taxpayer money, because where do you think the ban councils are getting their cash from?
00:10:38.180But Mark Carney could clear out all the regulations.
00:10:40.840We could have been building a pipeline to the North Coast to either Prince Rupert or Kinemat, but he didn't want to actually sign an approval for a pipeline to be built there and go through all of the consultations and environmental reviews as fast as humanly possible,
00:10:57.720if not just leapfrog over it. He could have done that. And I find it not annoying. And I respect
00:11:03.740Danielle Smith. But she's having to sit there and just act like this just has to be done.1.00
00:11:10.080No, it doesn't. It only has to be done because the man to your direct left has made it that way.
00:11:18.440And so I want to now jump over to another clip of Danielle Smith on CBC the next day,
00:11:24.380basically tacitly admitting that, yeah, Pembina Pipeline could even end up pulling out of this
00:11:29.600project. Check it out. I want to focus in still on the private company here, Pembina. When you
00:11:35.320read the news release that they've put out going along with this, they are interested in this 10%
00:11:39.780stake, but they make it clear there is a lot of caution around this. They're still evaluating the
00:11:44.240plan. Is it possible they could choose to walk away, that this could become entirely a public
00:11:48.780project? Well, I hope not. I mean, I think that what we've been looking for and what the private
00:11:55.240industry has been looking for is some indication that governments can work together to clear
00:11:59.740regulatory hurdles so projects can get built. So you have to remember the environment we're
00:12:03.400walking into. We have an environment where the Northern Gateway Project got all of its
00:12:07.260approvals and was canceled. And then we had the Keystone XL Project that was approved and in
00:12:11.740construction and then a presidential permit from the U.S. was canceled. And then we had a billion
00:12:15.680dollars spent on an Energy East regulatory process. They pulled the plug on because they
00:12:19.360couldn't see the way through to the finish line. So you can well imagine why it is that pipeline
00:12:23.720proponents are a little bit nervous based on the past 10 years of history. Now it may seem like I
00:12:30.580just basically played her saying the same thing twice. The difference though is in that CBC clip
00:12:36.080she said that she'd like to see the regulatory hurdles taken down so that private companies
00:12:42.180would be interested in actually footing the bill themselves. And by the way, I want private
00:12:48.140companies to foot the bill themselves, not because I'm like, oh, you hands off taxpayer money.
00:12:53.260Part of that is my reason. The main thing is that I don't think that the pipeline is going to be
00:12:59.940managed in its planning, construction, or maintenance better by the government than a
00:13:05.220private company. I think a private company would do far better with this entire project, and they
00:13:10.880should be the ones fully profiting off of it if this was a free market. But now we're going to
00:13:16.260have government stakes in this project that's probably going to be way over time and way over
00:13:21.340budget because Carney at the press conference refuses to actually make the regulatory environment
00:13:27.420easier. In fact, just a couple weeks ago, started pulling back on loosening regulations around
00:13:34.000energy projects because his own caucus started signing letters to him anonymously saying that
00:13:41.740they didn't like his own pipeline plan. That's another crimson red flag on the field. We are
00:13:47.460going to assume that this project is not going to get derailed over the next decade while there
00:13:53.980are actively people in the Liberal caucus who do not want to see this pipeline approved.
00:13:59.300Now, many people have been talking about David Moose on the Loose's video, talking about what
00:14:05.080Mark Carney's interest in this project may be, and it's sort of surrounding the whole idea that
00:14:09.520he has a lot of friends, whether through other ministers or through Brookfield, that are heavily
00:14:15.580invested in the carbon credits market. I don't really know about that. My perspective is that
00:14:20.820Carney's real interest in all this is basically pretending he's Mr. Pipeline. It's all political
00:14:26.960games. He wants to seem like Mr. Pipeline to make the business liberals in his coalition happy,
00:14:32.800and then he wants to make sure the pipeline never actually gets built, especially not even started
00:14:38.200before the next federal election, so that he can keep the green left vote on board as well.
00:14:44.120He's effectively trying to walk a tightrope where he both is in favor of a pipeline while he's never
00:14:50.020actually getting the pipeline built. Now, I want to jump over to a post from my friend Kirk Lubomov,
00:14:56.680because I think he had a really good way of summing up what this current project is.
00:15:03.040Kirk here says, and I'll bring this back up on screen,
00:15:07.180the private sector would have built the TMX expansion project for $7 billion.
00:15:12.160The government chased them out of Canada and built it themselves for $35 billion.
00:15:16.220The private sector now doesn't want to touch another pipeline project.
00:15:19.700The government is stepping in to mismanage the construction of another project
00:15:24.180that will cost $45 billion of taxpayer dollars. To build the pipeline, the government also has
00:15:29.300to spend $20 billion on the Uneconomical Carbon Capture Project, that's the Pathways Project.
00:15:35.420And then Kirk says, so taxpayers will pay $90 billion for something the private sector would
00:15:40.640have done themselves for $20 billion if the government had just gotten out of the way.
00:15:44.880Completely unacceptable waste and mismanagement. And then he says in another post here,
00:15:50.400Canada announces to the world that we can't even build projects of national interest which should
00:15:57.200be massively profitable and the private sector would be tripping over themselves to buy in
00:16:02.280anywhere else in the world without government having to use taxpayer dollars to try and save
00:16:07.320it and create confidence because the red tape and uncertainty is so bad. Only Canada would celebrate
00:16:12.860this instead of working day and night to remove these hurdles and uncertainties. Politicians
00:16:17.460should even be announcing shouldn't even be announcing this pipeline project private industry
00:16:22.100should absolutely i agree and this is where i think what danielle smith is doing is short-sighted
00:16:29.700although there is always time in the future to basically change her stance and put pressure on
00:16:34.580the federal liberals again we shouldn't be accepting this like what the liberals proposed by the way
00:16:41.220the MOU that Danielle Smith had signed with Mark Carney promised that there would either be a
00:16:47.380southern or northern route. And then Carney broke that promise by just saying that we're not going
00:16:52.560to be getting rid of the tanker ban that blocks oil shipments from coming out of Kitimat or Prince
00:16:58.000Rupert, and we're just going to be forced to accept the southern route, which requires us0.67
00:17:02.560to work with the Musqueam who have land title over the entire lower mainland that the pipeline is0.98
00:17:08.200going to have to move through. This is not good. The amount and their people are saying, well,0.92
00:17:13.260it's going to bring so many investments. So we should just shut up and be okay with it. We should
00:17:17.480just be happy that something's getting done. To which I say no. Why are we always accepting
00:17:22.760mediocre concession prizes rather than actually getting a solid win? Again, so many people are
00:17:32.680talking about it as if it's already generating $20 billion in revenue every single year.
00:17:39.620Yeah, in 2036, it might be doing that. First, it even has to have the plan approved so they can
00:17:45.940start planning it. This pipeline is at least going to be taking 10 years to get completed.
00:17:52.160In Texas, if you were building a pipeline from planning to completion, and by the way,
00:17:58.160we've already basically been through an entire year of planning, and then we have another 10
00:18:01.620years after this. In Texas, planning to completion takes one to three years, depending on the size
00:18:08.860of the pipeline. So let's say a fairly long pipeline like the one from Alberta to the West
00:18:13.440Coast would be a longer-ish one. In Texas, they'd get it done in three years. Maybe compensating
00:18:19.880for the terrain between Alberta and British Columbia having to go through the mountains,
00:18:24.400let's just add another year or two on top of that. At the very least, the Texans are building1.00
00:18:29.200pipelines in half the time that Canada is and with no government money. Maybe there's some loans0.94
00:18:35.080along the way, but that's very different compared to the government literally just spending 44
00:18:40.880billion taxpayer dollars building a pipeline on top of the Pathways Project, on top of the
00:18:46.840increased carbon tax. The whole thing is just stupid. Maybe it gets built one day. I don't1.00
00:18:54.140exactly trust the thing. And I actually did like the response here from conservative finance
00:18:59.700critic Michael Chong, who actually went after the fact that there's just all this money being
00:19:05.000promised all over the place for these new projects with no actual idea of how we're going to be
00:19:10.140spending it. I'm just going to read a little bit of this and then that should be it for us today.
00:19:14.780So he says in the header here, my statement on Mr. Carney's complete lack of fiscal transparency
00:19:48.100up to $43.7 billion for a new oil pipeline from Alberta to the West Coast,
00:19:53.620and up to $20 billion for new infrastructure projects in British Columbia
00:19:57.640without telling Canadians where the money to pay for all that will come from.
00:20:02.400As Mr. Carney attends the NATO summit this week,
00:20:04.840he will no doubt be touting his defense spending increases,
00:20:09.380but Canadians have been left in the dark about exactly how the Liberals
00:20:12.400will hit their spending targets and how they're going to pay for it.
00:20:15.720Now, I'm not going to read the rest of this, but I can already answer that question. The way we're hitting our NATO targets is we're just increasing salaries. Increasing salaries, redefining domestic infrastructure for civilian use as being defense infrastructure, and then also committing to buying jets and boats someday in the future.
00:20:37.440Like, apparently you can just make spending commitments, and that counts as raising your defense spending up to 2% of GDP every year.
00:20:46.420Michael Chong in that statement later goes on to describe the situation where the parliamentary budget officer has asked three separate times for a breakdown of where the defense spending is actually going, and the government is unable to provide any transparency on where the money is going.
00:21:05.460and so these guys are going to try and build this new west coast pipeline on time with all the new
00:21:12.500reconciliation industry hurdles with all the environmental reviews and without getting rid
00:21:18.420of bill c48 or bill c69 i'm not a pessimist i feel like i'm just a realist here well anyways
00:21:26.180thank you guys for watching the show that should be it for me today make sure to like the video
00:21:30.220subscribe leave a comment and of course hit the join button if you guys want to consider becoming
00:21:34.620a monthly contributing donor to make the channel more sustainable for me and allow me to be less
00:21:39.560reliant on the very awful YouTube algorithm. Anyways, with all that being said, thank you
00:21:44.700guys for watching. I'll see you all later.