The National Telegraph - Wyatt Claypool - Mark Carney Just Got Caught – His Pipeline Plan Is Clearly FAKE

00:00:00.000 Hey guys, Wyatt Claypool here, and welcome back to the National Telegraph YouTube channel. 0.94

00:00:06.340 Prime Minister Mark Carney's pipeline lie is already falling apart because he was dumb enough

00:00:12.240 to think it was going to work in the first place. Carney wants to seem like he's Mr. Pipeline, 0.96

00:00:18.900 constantly saying yes to Canadian energy development, but at the same time ensuring

00:00:23.640 that it never actually happens. No pipeline's going to get built, and he's going to continue

00:00:28.860 holding back our energy industry from developing at the speeds that it does elsewhere in the world.

00:00:35.420 Carney didn't expect that people were actually going to ask questions about the agreement he

00:00:41.180 signed with Alberta Premier Daniel Smith and what he's going to do to try and ensure a pipeline

00:00:46.380 gets built. Because if you've been following the story up to this point, you will know that the

00:00:51.420 agreement and the MOU that he has signed with Premier Smith is salted with excuses to not

00:00:58.140 actually build the pipeline. A bunch of stipulations and vetoes that obviously ensure that it will at

00:01:05.260 the very least get delayed by years and years, if not outright canceled. Carney thought he was going

00:01:12.660 to be able to string people along for at least several months to years, but the whole thing has

00:01:17.900 fallen apart within four or five days. In just a second here, I want to take you guys into this

00:01:23.540 clip where a reporter just asks a basic question about what Carney's going to do to try and get

00:01:28.320 a pipeline built, and he completely folds. But before I get into it, I just want to remind you

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00:01:53.340 does help me be less reliant on the awful YouTube algorithm that is being influenced by the CRTC

00:02:00.140 these days. Anyways, let's get into this clip. And thank you to Juno News for clipping this stuff

00:02:06.920 from CPAC. This was very, very interesting footage to watch. Are you completely confident

00:02:12.960 that a private sector proponent exists for this pipeline? And if so, when would you expect to see

00:02:19.000 a commercial open season or some other formal expression of interest from the private sector?

00:02:23.560 So thank you. That first point is just in terms of the dynamics here is, of course, Alberta is the

00:02:31.320 one proposing the pipeline or bringing forward a private proponent for the pipeline. So that's a

00:02:39.020 process that's underway with them. I will leave it more to them to be more explicit in terms of

00:02:46.800 answer but certainly their uh expectation and it shows uh in terms of the effort that's been put

00:02:52.480 into the agreement the specificity around the agreement the timelines uh for the agreement

00:02:57.280 the expectation is that uh that will be the case um and uh and then what follows from that is uh

00:03:04.720 there's a sequencing uh regulatory well there's a consultation sequence uh with indigenous peoples

00:03:10.480 so to say, work with the promise of British Columbia.

00:03:15.240 You realize what he's saying right now is no, there's no pipeline.

00:03:20.220 Why is it Alberta's responsibility solely to go find a proponent for the pipeline?

00:03:26.400 Do you know why?

00:03:27.600 Because if industry was engaged with Ottawa to try and build a pipeline,

00:03:32.540 industry would immediately say you have to get rid of Bill C-48,

00:03:36.340 you have to get rid of Bill C-69,

00:03:38.200 and you have to get rid of these other taxes and regulations for it to be worth it for us to invest

00:03:43.540 in Canada. Because you can't just say, okay, you can build a pipeline. You actually need to make

00:03:49.580 it profitable to build a pipeline. And I know there's a bunch of environmental left people

00:03:54.360 coming out of the woodwork to say, oh, well, if it's not profitable, that means we should just

00:03:58.900 be investing more into green energy. Oh, wow. It turns out there's a lot of profits to be made

00:04:03.640 and heavily government subsidized green energy and not the held back industry oil and gas that

00:04:09.380 gets regulated and taxed into the floor. What a mystery. I wonder why. The thing is that Carney

00:04:15.820 wants to just stiff arm this project over to Alberta. He's given Danielle Smith a very short

00:04:21.100 timeline to find a proponent. And then if she doesn't, he'll probably just keep pushing the

00:04:26.440 timeline back for him to actually approve construction. But even if she finds a proponent,

00:04:31.780 Then that proponent gets to run the impossible gauntlet of trying to impress the BCNDP government in British Columbia, as well as First Nation ban councils, many of whom are already against the project.

00:04:46.600 And Mark Carney isn't even just reserving consultations for First Nation bans. He also includes the Coastal First Nations, which are a fake group, but he has given them the stamp of approval by meeting with them to pitch the pipeline, which they have already rejected after the agreement was signed just a few days ago.

00:05:07.500 The entire situation is ridiculous. Even if coastal First Nations weren't involved, so many bans understand there is more money to be made for them in rejecting a pipeline than actually getting one built. If one gets built, in fact, it undermines their need for government dollars. They don't want actual prosperity getting onto their territory, quote-unquote.

00:05:30.940 they want to stay dependent because it benefits members of the band council and elite families

00:05:37.380 not the average first nations person but elite band council families anyways i'll let him finish

00:05:44.060 here and then we're going to move on to a couple other clips moving through those and moving to

00:05:49.100 that october date and i just want to be very clear to everyone you have a moving towards a designation

00:05:55.000 if various things are met, designation by the major project office as a nation building project.

00:06:01.680 But then there's a process of consultation to determine the conditions around that project as well.

00:06:07.180 And to answer your question, through all of that, a private proponent can be building out the open season,

00:06:16.280 if you will, the backstop of the barrels associated with that.

00:06:19.520 So in our quest to build things at speeds not seen in generations, there is a multiple-year process to getting a designation as a project of national importance, and that gets us to consultations and regulatory hoops.

00:06:40.560 So this October, we might, might be able to get a Project of National Importance designation.

00:06:48.560 Does that put shovels in the ground?

00:06:50.280 No, because of course it doesn't.

00:06:52.300 It gets us into more boardrooms to drink more coffee and eat more donuts, talking about maybe we should do it, maybe we shouldn't.

00:06:59.320 Who knows? 0.97

00:07:00.840 It's all so ridiculous. 0.82

00:07:02.940 But now let's jump ahead to this other clip where he's asked about the fact that, you know, David Eby and all the First Nation groups are already against it. Now, of course, there's some First Nation bans that are in favor of it, mostly in places like Alberta. Good on them. 0.85

00:07:21.620 I still don't exactly like the First Nation indigenous kind of system we have in this country of requiring consultations and approvals. We're all just citizens at the end of the day, and I think we should be moving towards actual equality, not this two-tiered ethnic system of different rights and privileges, depending on who you are.

00:07:44.040 But regardless, I give them credit that some of them in Alberta are in favor of the pipeline.

00:07:48.800 But here is Mark Carney being asked, well, how is this going to work when you've set the standard that the provinces and First Nations have to be in favor of it and they've already signaled that they don't like it?

00:08:00.060 I want to ask you, you just said it's Canada working, but what about BC consultations specifically around the pipeline?

00:08:04.900 I mean, you're looking at a conditions document, September 27, 1st or potentially 2033.

00:08:09.940 That's extremely quick. So how are you going to get them on the side and conduct sufficient consultations when you don't even have a route or anything until October?

00:08:17.320 Well, thank you. Thank you for the question. And I had a regular speak with Premier Eby.

00:08:23.940 He and I had a good conversation yesterday about a range of subjects, including aspects of what we announced today.

00:08:30.480 I'm looking forward, actually, I will be seeing the premier in Vancouver next week.

00:08:35.160 And we will address a series of issues directly in the interests of British Columbia, as well as.

00:08:42.480 Well, what are the issues in this project for British Columbia?

00:08:45.800 Maybe he's just talking about their time with general issues, maybe not even having to do with the pipeline.

00:08:50.380 But why does Eby need to be involved in the process at all?

00:08:53.880 In fact, he doesn't.

00:08:55.120 Carney could just approve a pipeline today, say, I'm going to immediately sign you a waiver that

00:09:00.800 means that this project does not have Bill C-48 and Bill C-69 basically blocking it,

00:09:09.620 and then we'll work to repeal those two laws. He could do that today. But in fact, he's only

00:09:14.320 including First Nations and the BC government and other groups because he wants the project

00:09:19.240 to get blocked. He just wants to continue personally saying yes, while other people

00:09:23.340 get to veto it and say no for him issues in partnership with the government of canada

00:09:27.980 government of alberta uh if aspects of this or as aspects of this agreement move forward so

00:09:33.900 uh how do we how do we do it which was your question we do it as we did here uh through

00:09:38.700 cooperation through open dialogue uh working together making sure as i said in my remarks

00:09:43.980 standing alongside premier smith a few hours ago uh that uh the people of british columbia uh benefit

00:09:49.980 from projects that touch them.

00:09:53.300 And, of course, before all of that, and fundamentally,

00:09:57.000 is we respect and fully fulfill our responsibilities

00:10:03.560 for free prior informed consent standard consultations

00:10:07.520 with Indigenous partners.

00:10:09.160 Well, standard consultations can last years. 0.99

00:10:13.740 They can keep drawing it out because we've seen the courts rule

00:10:17.340 that substantial consultations end up being veto effectively, that they can just keep

00:10:25.060 consulting, they can keep the consultation going on forever, and just pretend that you didn't

00:10:30.480 actually consult them properly, if an endpoint is ever reached, and they don't get what they want.

00:10:35.420 That's the problem here, is that consultations have been equaling veto for many years now.

00:10:42.060 And he knows that. He's just basically, again, trying to put off saying no to other groups while he's saying, yes, he could fix this thing in five seconds, but he doesn't want to.

00:10:53.680 Now I want to take you guys into this interview that was done on Rosemary Barton's show on Sunday, where somebody who is an executive on an oil and gas company in an energy company has been describing that although industry is kind of optimistic that Carney has been willing to sign something with Alberta,

00:11:16.720 At the same time, they all realize that Carney still hasn't really done anything when you look hard at what has been accomplished so far.

00:11:25.140 So that's super positive.

00:11:27.420 He was just saying that the thing that was super positive was that anything was signed with Alberta in the first place.

00:11:33.300 And maybe this government, through its rhetoric, is indicating it wants to become an energy superpower, that they'll actually build something.

00:11:41.260 But now he's going to throw the cold bucket of water on the situation and describe how, in a lot of ways, nothing has actually changed.

00:11:48.640 The sort of the challenge, if that's the good news, kind of the bad news is the party that was not at the table to try and implement this, of course, were investors.

00:12:03.640 I mean, the province was there, the federal government was there, but the investors weren't there.

00:12:06.980 And so the investors were really the audience for on Friday.

00:12:12.680 And if you're an investor, you know, what you heard is a couple of things.

00:12:19.600 First of all, Prime Minister Carney saying that the MOU has effectively increased the carbon price six and a half times.

00:12:29.200 And, you know, that's a real attention getter.

00:12:32.260 Now, of course, the premier said, hey, it could have been a lot worse because originally the liberal policy was to actually increase it eight and a half times.

00:12:39.120 OK, so, you know, it depends on your cup half full or half empty.

00:12:43.160 But of course, if you're an investor, you know, they look at it on a global basis and relative to other places.

00:12:48.360 And as some of your viewers may know, Canada is the only country in of the 10 major oil producers that has an industrial carbon tax.

00:12:57.360 Actually, in fact, no member of the CBC's regular audience would know that because the CBC presents all this stuff in the way that the Liberal Party would want.

00:13:08.560 Well, we need industrial carbon taxes if we want to attract investment.

00:13:14.420 They always talk in this way.

00:13:15.640 Unless we have this green nonsense, people won't invest here.

00:13:19.660 when the other nine major oil and gas producing countries don't bother with it and everyone keeps

00:13:26.840 buying from them. In fact, we even personally buy from those other countries in certain parts of

00:13:32.940 Canada. Eastern Canada imports Saudi oil. And yet we're sitting around saying that no one's

00:13:38.080 going to buy our oil unless we have an industrial carbon tax? Like, goodness, no. If you're an

00:13:43.520 investor, you're sitting in New York and you're thinking, hey, do I want to give the oil industry

00:13:47.020 more money you heard geez this is the only place with a carbon tax and they just increased it six

00:13:52.540 and a half times so that's a that's a pretty tough message to hear uh as you can appreciate

00:13:59.100 so that's kind of the the first and dominant uh reaction on carbon pricing do you do you think

00:14:06.300 though adam sorry do you think though that this opens up the the the possibility for a private

00:14:11.500 proponent for a pipeline because it it of course rosemary immediately cuts him off as soon as he's

00:14:16.700 because he's raising these good points that it's not actually a win that the carbon price is going

00:14:22.260 up but not as much as we thought it was it's like well well it's gonna it's gonna open the door to

00:14:26.680 a proponent it's like well lady we're the country that had the what was it um wasn't it was an

00:14:33.420 enbridge uh thing but it was like the northern gateway that got shut down at enbridge ended up

00:14:39.140 having to pay i believe that was the company involved like 500 million dollars in pre-construction

00:14:45.600 work and all this other stuff that ended up getting thrown out the window. And the only

00:14:49.120 amount of refunded money that that company got was like 14.7 million. Like no, no oil and gas

00:14:57.300 company is going no energy producer. Nobody is going to trust the Canadian government as long

00:15:05.420 as the bad regulatory and tax infrastructure is still there. The only reason we have the energy

00:15:11.740 companies we already do is because they already set up shop a long time ago and most of them and

00:15:17.740 they're still able to produce but they're not expanding very fast because it's not that

00:15:22.460 profitable it's better to go expand somewhere else if you have the capacity to definitely

00:15:28.300 uh was clear that there is an interest in a new pipeline both by premier smith and the prime

00:15:32.620 minister so again that was very that's very encouraging it's nice to have a date you know

00:15:39.180 september 2027 to sort of you know get this project started so that that was uh definitely

00:15:44.780 encouraging again the challenge on that was um it's still pretty murky about how it's going to

00:15:52.460 get to the point of actual project approval uh part of the reason being is um uh some of the

00:15:59.020 legislation that is uh centered around um or the hurdles you know for instance bill c69 the so-called

00:16:06.620 no more pipelines built uh it's still in place so so if you're a uh if you're the private sector

00:16:13.820 and you're thinking about trying to build this you know and there's because remember i've said

00:16:18.220 there's there's two challenges one is just getting approval for a pipe but two is to fill a million

00:16:25.100 barrel a day uh pipeline there's going to be a lot of projects that's going to be required to be

00:16:29.500 approved to be able to actually fill it so i i would say um it's still be to be determined as

00:16:35.340 whether or not the plausibility of actually getting a pipeline filled remains to be seen.

00:16:44.300 So there you go. Yeah, the more you hear about this, the less encouraging it is that they're

00:16:50.540 actually going to build something. And again, it should have been clear from the beginning

00:16:54.620 that they were not serious about building something. It's Carney, the man who literally

00:16:59.420 argued that it's okay for Brazil and Qatar to be building more pipelines but Canada needs to leave

00:17:06.060 a lot of its oil in the ground who could have seen it coming that this guy wasn't actually going to

00:17:11.980 clear the decks to build pipelines you could get a pipeline started like in six months if you just

00:17:18.300 cleared the regulations you got rid of the taxes there would be people lining up all day long to

00:17:23.340 build something absolutely they want a government though that is going to be serious and Carney

00:17:29.100 can put on the face of seriousness in front of the Canadian public. But investors who know better

00:17:35.140 aren't going to say, well, he said he wants to build one. They're going to look at actually on

00:17:40.020 paper, can this even work? They're not just going to take his word for it. They're going to double

00:17:44.900 check. And so far, he's not actually, you know, his word is not worth anything at this point.

00:17:51.180 Is there anything else I wanted to point out here? No, I actually think I'm good.

00:17:54.640 But anyways, I think there was some other stuff I wanted to cover

00:17:57.740 when it comes to crazy stuff in Canadian politics,

00:17:59.940 but it was going to be a little bit too off topic.

00:18:02.560 I'm going to save it for later.

00:18:04.220 Anyways, with all that being said, thank you guys for watching.

00:18:08.200 Make sure to like, share, subscribe,

00:18:09.840 consider joining the channel and becoming a member,

00:18:12.540 and I'll see you all next time.

The National Telegraph - Wyatt Claypool - May 18, 2026

Mark Carney Just Got Caught – His Pipeline Plan Is Clearly FAKE

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