True Patriot Love - March 17, 2026


Gas Prices： From '70s Oil Crisis to Today's Shock #shorts

Hosted by
Shara Micucci Mike Wixson
Mentioned
Pierre Trudeau
China's Spy Ship： Learning US War Tactics In Real-Time! #shorts Why is Leadership So Weak and Broken？ - with Dr. Chase Spears

Episode Stats


Length

2 minutes

Words per minute

159.13

Word count

434

Sentence count

21


Summary

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

In this episode of the Energy Matters podcast, I speak with former Canadian oil baron and author of the new book, "The Oil Rush: The Story of the Oil Rush in Canada: How the Yom Kippur Embargo in 1973 changed the landscape of the oil and gas industry in Canada and how it led to the creation of one of the largest refineries in the world in Calgary.

Transcript

Transcript generated with Whisper (turbo).
Hosts, guests, and mentioned names generated with spaCy (en_core_web_sm), reconciled against Wikidata.
00:00:00.000 You were kind of, it's interesting because you tell, you know, in the 70s, I went and because of all that's going on in Iran right now and, you know, you hear about gas and gas prices.
00:00:11.120 I think today, you know, crude is at $97 a barrel U.S. It's a crazy amount.
00:00:18.920 I went back and I started looking at the history of, you know, gas, oil and gas in Canada.
00:00:25.780 And, you know, I went back to 73 because 73 was when the Yom Kippur War between Egypt, Syria and and Israel took place and it broke out.
00:00:41.100 And basically the embargoes happened because of the relationship between the U.S. and the relationship between Saudi Arabia.
00:00:50.520 Yeah. And so very, very captivating, you know, and in your book, you know, you're you're in the middle of this almost like you're you're basically, you know, the government has decided in 75 that they're going to get into the oil business.
00:01:05.640 So in comes, you know, Prime Minister Pierre Trudeau, and he actually makes the decision that he's going to start Petro-Canada.
00:01:16.240 And then tell me a little bit, you know, about what was going on in Alberta at that time.
00:01:21.320 Yeah, it was an interesting moment because once you once we had the embargo in 73, that really transformed not just the oil landscape,
00:01:29.460 But I think, you know, the actual physical landscape in Calgary, because suddenly you have oil going up, you know, the price of oil quadruples in a short period of time.
00:01:39.040 And as a result, you have the industry expands at a rapid rate and you have all these people coming into Calgary looking for work.
00:01:46.680 And suddenly Calgary is booming. We've got like 30,000 people coming, you know, every year.
00:01:52.520 The suburbs are going out and and you can see oil is this sort of dominant force.
00:01:58.660 And I think, you know, Trudeau recognizes this and certainly Loughy did, who was a very astute manager of the resource, I think, and maybe he may be the last astute manager of the resource in Alberta.
00:02:11.580 But, you know, out of that, you've got the Petro-Canada and then you had the National Energy Program, which came in, you know, in 1980 and that which is still, you know, demonized in Alberta.
00:02:23.720 And, you know, in some cases for good reason, but one of the initial aims of that program was energy independence, you know, which was, you know, I think a great aim and, you know, had it been achieved, we wouldn't be in the situation we're in now.