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Gas Could Hit $2⧸L in Canada ｜ with Dan McTeague


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Also mentioned:
Mike Archie Bunker Dan McTague Terrific Gordani Iraqs Bloc

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10

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Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

In this episode, we talk about the current state of the oil market, the impact of climate change, and the potential for Canada to become a major supplier of crude oil to other countries. We also talk about what it means to be an oil exporter, and whether or not Canada should continue to produce and export oil.

Transcript

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00:00:00.000 Dan, with your depth of knowledge of how the world works, as you just mentioned, and energy,
00:00:04.900 there was a story that came out on this Tuesday that saying India has about three weeks supply of crude oil and oil stocks.
00:00:12.440 How common is it for a lot of countries to have not a fairly limited supply and they rely on deliveries on a monthly basis to keep those supplies going?
00:00:23.060 Yeah, the country, the world's economies, especially the big ones, have relied on this idea that you could somehow create a strategic petroleum reserve or have several months of reserves.
00:00:35.900 And this was a classic misread by people in the marketplace who simply think, oh, there's too much oil out there.
00:00:42.100 Everything's just fine. 0.93
00:00:43.080 They're now realizing just how ridiculous that was.
00:00:46.220 The world is seeing a major draw on oil inventories and there is no substitute for oil.
00:00:51.600 I don't care if a dam, if you're building an EV, it still takes oil and coal and other things to refine it, to process it.
00:00:57.060 You're from everything from your rare mineral to forestry, to mining, to agriculture, all requires diesel, all requires hydrocarbons.
00:01:05.040 It's how you use it. Of course, it has to be more responsible.
00:01:07.280 Nations that are demonstrating that their reserves are depleting rather quickly signals,
00:01:14.920 you know, the falsehood of the past 10 years in which we sort of danced around the idea that the world doesn't need it anymore.
00:01:21.020 we can bury it in the ground we heard that for the past 10 years and now it's put a number of
00:01:25.340 countries in a very vulnerable vulnerable position including canada and so i think india has very few
00:01:31.260 choices too bad canada doesn't have an extra couple pipelines it can continue to send tons 0.94
00:01:35.580 of its oil to the rest of the world done in the highest fashion that's available to the world
00:01:41.660 i like the way that jim and i just like we were like yeah we pause and look at each other like
00:01:45.500 yeah a pipeline what an idea it's you know if you keep coming up with these novel ideas dad i'll tell
00:01:51.500 you yeah the order of canada is coming my way oh we put in the nomination yeah uh one of the things
00:02:00.460 that uh maybe and and this is just being an average canadian and a guy who doesn't have the
00:02:05.180 the background in defense or in in uh i've got media background which makes me qualified to know
00:02:10.860 basically nothing but it does frighten me a little bit that some of the major customers
00:02:16.940 of iran are some of our biggest threats china russia north korea are we a little afraid of
00:02:24.380 pissing them off over all of this and shorting them on fuel that might that might uh instigate
00:02:30.700 further uh negative interaction with these countries no well there's no doubt that uh
00:02:37.340 There are real threats to these countries in terms of their supply as they rely on the Venezuelans and the Iraqs and the Russians, Iran's and Russia's of this world. 0.89
00:02:47.180 But, you know, this is where Canada can shine.
00:02:49.720 It has an extraordinarily good track record in terms of its democracy, in terms of its labor standards, in terms of its environmental standards.
00:02:59.000 By any measure, we produce the best oil in the world, and yet we still have a cautery of people.
00:03:03.840 You know, you can pretty much know where they are.
00:03:05.900 Those who voted Liberal, those who voted NDP, voted Green, voted Bloc, who believe that we're skunks.
00:03:11.520 We've done terrible things. We're doing terrible things.
00:03:13.760 We're not the solution of the world unless we basically, you know, choke ourselves.
00:03:18.800 We, as Archie Bunker would have said many, many years ago, we go stifle ourselves.
00:03:23.360 There's some people who actually believe that Canada should not be doing any of these things.
00:03:27.920 And that permits and gives power to the wrong people to exercise and wield enormous, you know, impetus when it comes to geopolitical matters.
00:03:38.380 Oil energy matters. I didn't create energy, affordable energy for, you know, because I was trying to be cute.
00:03:42.980 It means when you fool around with energy, the basis on which our society thrives.
00:03:47.640 There are a number of outcomes that can't be, that can't always be calculated, but there is today.
00:03:52.240 Iran has been able to use its energy prowess, as has Russia, to clobber and to push its very draconian, anti-democratic, anti-human agendas. 0.89
00:04:02.520 And so people really need to wake up.
00:04:04.820 If not, then maybe the tragically hips song, the 100th Maradion, Gordani got it right. 0.96
00:04:10.140 A generation so much dumber that its parents came crashing through the window. 0.96
00:04:13.260 a last one for me dan um president trump had indicated to the pentagon and to the media that 0.97
00:04:20.140 he believes this thing will last four or five weeks minimum maybe longer for canadians worried
00:04:25.860 about the price of the pump how high could a leader go 160 180 what are we looking at well
00:04:32.180 look ontario right now we started the weekend off 137 going to 143 tomorrow 144 going to 140
00:04:40.700 you know 46 48 49 50 uh likely by friday maybe a dollar 55 by sunday um sky's the limit uh 175
00:04:49.900 in ontario two near two dollars in quebec maritimes 190 uh bc uh rather sorry uh manitoba
00:04:59.660 saskatchewan alberta likely back to 165 170 uh interior bc 180 in vancouver yeah two bucks a
00:05:07.420 of leaders. So yeah, it all depends on how long this goes, but I don't see a resolution here.
00:05:13.200 And it's the first time, by the way, I think a war has been tried, at least by bombing alone.
00:05:23.560 I'm not sure how far that works. Iran is not the Gaza Strip. Yeah, you can pummel that, but
00:05:31.260 at the end of the day, there's a lot of targets and Iran is not Iraq. It's three times stronger, 0.92
00:05:36.260 four times the population so i think this is uh you know conservative speaking several weeks before
00:05:42.740 we get some kind of resolution someone is going to have to yell uncle i don't think it's the fanatics
00:05:46.580 they're going to do that until every last one of them is contained that that is something that uh
00:05:52.340 i think sits at the surface of our fears that this is uh not an easily relented regime uh you know
00:06:00.020 it's so funny uh dan you put into into perspective something that i'm going to take away from today's
00:06:04.420 discussion and i hope that i'm right about it canada's out there we do a lot of virtue signaling
00:06:09.620 we want to get out there and help the world we seem to know what's best for the world
00:06:13.300 with the environment and you know human rights and everything but the truth is if you take a look at
00:06:19.860 the center of power and the center of conflict over power in this world it revolves almost
00:06:25.940 exclusively around energy rights and mineral rights canada is so rich allegedly in this regard
00:06:34.420 that if we really wanted to make a positive impact on the world it could be through our oil
00:06:41.860 simply through our oil would put us into a power position to have the kind of clout in these
00:06:47.860 scenarios the position help countries and to actually help countries and have a seat at the
00:06:53.220 table of negotiation yeah uh until we do that we we're really just out there with air burgers
00:06:59.460 yeah i just it's frustrating dan well it's frustrating for you it's been frustrating for
00:07:04.420 me i mean i've had to try to convince people of the wrong of pursuing this idea that we could
00:07:09.300 somehow stop our energy when so many people around the world said what happened again a great little
00:07:14.420 country that snapped lost its way uh decided that it was going to you know shut down the very things
00:07:20.580 that makes it tick i mean look this is a very prosperous country by other standards it didn't
00:07:25.940 it wasn't always that way a generation ago we faced the great depression and before that
00:07:30.820 some of the most inhospitable uh conditions in which to uh in which to live and thrive but we've
00:07:35.940 done so by harnessing and managing our energy the fact that we could do it for ourselves and we could 0.97
00:07:40.740 do it for the rest of the world but at the last second decided to uh go woke and go stupid really 0.95
00:07:46.100 means that we've done no benefit for anyone else in the world and we certainly harmed ourselves 0.98
00:07:51.460 the next generation knows full well they've been roped and it's the first time my generation has
00:07:56.900 done something to damage the future prosperity of our children our grandchildren we i personally
00:08:03.620 believe we should be ashamed of what we've done because it's very bad policy it's time to admit 0.95
00:08:07.860 it get those damn elbows down and start dealing with what the world wants and to restore our 0.96
00:08:13.780 integrity internationally not just our ability to you know punch above our weight militarily which 0.98
00:08:19.380 which we can't do, but to actually give the world that which it needs, you know, a very
00:08:23.960 strong supply of energy that is virtually limitless for which the rest of the world
00:08:28.980 can prosper and Canada can continue down this road of better promise for the next generations.
00:08:34.880 He is Dan McTag, the gas price wizard. Follow him on social media, affordableenergy.ca and
00:08:41.460 gaswizard.ca. Dan, as always, we appreciate your insight. You are the best of the best
00:08:45.640 of this, and we appreciate you coming on. Thank you so much, my friend.
00:08:48.660 Mike and Jim, thanks so much for this.
00:08:50.000 Great to be here.
00:08:50.580 Terrific.
00:08:52.940 You know, Mike, what Dan said was both informative and depth, but it's sometimes a little scary as a Canadian.
00:08:59.600 And when he starts throwing out numbers, $1.82 a liter, no wind in sight, it could be a very tough spring, summer for Canada.
00:09:06.220 You know, but it's deeper than the price of gas.
00:09:09.200 I mean, what Dan is always about, and I think probably we often are as Canadians, is our pride in our energy.
00:09:17.240 and and we have no means to provide that energy to the world and at a moment like this it could
00:09:24.220 really be the difference between you know uh helping a whole nation that needs fuel
00:09:31.760 and even offsetting what it costs us as a nation but we don't have the option and that's the deeper
00:09:38.580 thing as a canadian that's disturbing what's going on in iran is definitely disturbing yeah
00:09:43.580 but what's happening here at home we have kind of left ourselves with no hands here's the irony of
00:09:49.340 all of this prime minister carney just capped what he felt was a hugely successful trade mission to
00:09:55.580 india he's in australia now imagine getting on the phone to indian officials saying we understand
00:10:02.300 you're going to run out of oil in a few weeks we're going to load up some tankers and send
00:10:06.380 some to you, but he can't do that. It's not an option for us, right?