True Patriot Love - [Sneak Peek] The Iran Update 06 24 26 - What's Next？

00:00:00.000 We've been in a technical recession now, but we've been in a technical recession with the bump in oil prices.

00:00:06.660 So where does that leave us without the bump in oil prices?

00:00:09.240 We're about to find out.

00:00:14.480 Hi, thanks for joining us. This is tplmedia.ca.

00:00:17.720 I'm Mike, and today the topic, well, it is what everybody's talking about on a global front,

00:00:24.220 an MOU that has been drawn up by the U.S., presented and negotiated with Iran.

00:00:29.360 And today we're going to dive a little bit deeper into that topic to find out how this directly affects Canada.

00:00:36.560 And to do that, of course, Paul Micucci, who does the deep dive on the numbers for us always and beyond.

00:00:42.920 I appreciate you doing this because you've gone through this, almost every section of this MOU.

00:00:49.760 Yeah.

00:00:50.400 And you've looked at it from a number of perspectives.

00:00:52.380 kick us off paul what do you think overall this has uh done globally what do you think that this 0.99

00:01:01.140 mou is going to do uh to the economy of the world oh my goodness well the world changes it forever 0.90

00:01:08.440 you know and we talked about this on other shows mike it changes uh how transportation logistics

00:01:15.180 happens throughout the world the global powers who secures what nation what nations eventually

00:01:21.340 take over other nations it is it basically causes a chain of reaction which will impact

00:01:29.180 every continent in the world every country so but you know i'm really really focused right now on

00:01:35.500 canada because of course we live here and what impact it has on us and how we are so oblivious

00:01:43.100 to the impacts i i am shocked that actually this summer everyone's just going off on summer

00:01:49.580 vacation after this and when i looked at it i thought am i missing something because you know

00:01:54.620 should we be more focused on how this is going to impact us because i think we thought okay

00:02:00.060 you know the the us for all intensive purposes that are pulling out they've lost they've decided

00:02:05.660 to back down and go come home and last night even you know it was interesting i don't know late late

00:02:11.660 in the day yesterday the senate voted the u.s senate voted 50 to 48 with a bunch of republicans

00:02:18.780 turning uh the to make the vote go through um empowering the wars act which is interesting

00:02:26.860 that basically says he has to stop you you have to come home now you have to come home now which

00:02:31.500 you know of course they're saying i have veto power because this is the house bill that's gone

00:02:36.620 to the senate the senate finally passed it and he's saying no it won't have any impact it makes

00:02:41.980 my life more difficult but i'll still get this mou done i'll still get the agreement done um but i

00:02:47.980 don't know right it's it's it's kind of crazy because senator um wicker who is the arms services

00:02:55.580 committee chair roger wicker from a republic from mississippi um i saw was tearing up the mou

00:03:03.340 and just disgusted at how it had in his mind had uh downgraded or uh made epic fury look like it

00:03:12.460 it was nothing and then now he's asking the really big question is where does the 300 billion dollar

00:03:18.880 reconstruction fund money come from which is right now unanswered that's on the table who makes up

00:03:24.360 that money within minutes of this uh occurring uh in the senate floor of course the iranian

00:03:30.480 parliament and and you know this uh galabaugh of one of the parliamentary ministers and uh 0.98

00:03:35.900 representing speaker yeah i came out and this is uh the islam is bad the islamabad understand that 0.84

00:03:42.700 it's not the result of pressure and coercion but rather the result of the resistance and authority 0.58

00:03:48.060 of the brave iranian nation um that's what he said on national television that's why

00:03:52.640 the islamabad memorandum of understanding became and i like that he calls it it's very interesting

00:03:59.000 uh became a declaration of america's defeat right well so now iran is saying okay he's got to go

00:04:07.200 home he lost right that has a huge impact oh it does and i want you know for those of you and we

00:04:13.780 want to spend a few minutes mike and just go through the mou yeah so i really wanted to go

00:04:18.500 through um a little bit about what's going to happen so the biggest thing is it reopens the

00:04:25.560 straight yeah right so you know whatever you have to say the straight controls one-fifth of our oil

00:04:34.340 supply so now the U.S. is going to back off they said they're not going to uh you know be uh blocking

00:04:43.540 the Strait of Hormuz so it now opens up the straight and they're going to go in and they're

00:04:48.460 talking this morning or yesterday about sweeping it for landmines making sure it was all clear again

00:04:53.920 and really rolling through right which as we're seeing now i don't know if you've noticed at the

00:04:59.180 pumps the price of gas is starting to go back down it is yeah it's it's back into the realm of some

00:05:05.200 sort of reality it feels like we're headed back to normal right back to normal the interesting part

00:05:11.320 is remember before this happened normal was low right we were remember we were talking on shows

00:05:17.620 a few months ago before uh the war happened about 60 58 we were even in calgary and they were

00:05:24.420 complaining about it oh man you know things aren't so great they had several zero barrels which is

00:05:30.660 you know they basically just keeping the flow going yeah uh at zero profit uh per barrel uh

00:05:36.020 for a long time the the bottom had been hit i think in canadian oil by the time this occurred

00:05:41.700 yeah exactly so it kind of breathed a new uh a new existence into that oil business here in canada

00:05:48.500 yeah yeah we rode the wave so we've been you know it's interesting we we've been in a uh a recession

00:05:54.900 you know uh technical how dare you yeah a technical recession as they're calling it but

00:06:00.500 we've been in a technical recession now but we've been in a technical recession with the bump and

00:06:06.020 oil prices so where does that leave us without the bump in oil prices we're about to find out

00:06:10.980 yeah so you know the sugar coating is coming off the apple right now and quite frankly uh the prime

00:06:16.820 minister's got to be saying oh now i've got a few more quarters coming i'm going to lose the

00:06:22.260 advantage of the uh large exporting cost of oil right and i haven't got a pipeline going which

00:06:29.700 we're going to talk about that in a minute yeah i don't have a pipeline going and i don't have

00:06:33.460 the backdrop of that happening so when we did our last show on the technical recession that was one

00:06:38.580 of the caveats we put on it it's going to just watch out if this war ends and and oil plummets

00:06:44.180 right where does that leave us yeah so how do you feel about this i'm just gonna this is the

00:06:49.460 you know the expert opinion keeping the root open helps stabilize gasoline prices transportation

00:06:54.020 costs and inflation directly benefiting canadian households and businesses that sounds opposite

00:07:01.620 to what we think the effect might be because if we're not if we're not beholden to our own oil

00:07:09.220 dollars and we need the straight of her moves to subsidize this i really don't believe that to be

00:07:15.300 honest with you paul i think that no i think that it will cause a destabilization in our economy

00:07:20.500 because the price and value of our own oil is about to plummet right now this is we're going

00:07:26.500 to get into in a minute what's going to happen to the reconstruction who's going to bear the

00:07:30.180 costs how that's going to be passed down whether there are fees on the so that that's coming up but

00:07:35.140 i want to say thanks to our research team for putting up a nice powerpoint for us to follow

00:07:38.500 along and maybe what we could do is actually post that along with this episode so that you can follow

00:07:43.060 along yep uh the restoration of commercial shipping yeah yeah so all of a sudden it's back

00:07:50.900 so you know the we were starting to see the impacts it was funny i was going to order something

00:07:56.260 yesterday and it was 500 and it had a 500 shipping cost that's a crazy yeah situation

00:08:04.260 for those of you who do any shipping internationally you find that your shipping

00:08:08.740 costs were starting to match your goods costs and so we were stopping right this yeah so you know

00:08:15.940 hopefully that'll go back if i'm a manufacturer and i have global shipping challenges this one's

00:08:21.380 has got to be hurting me right now well i think any petroleum byproduct uh which is an enormous

00:08:27.180 amount of products that we use on a daily basis i think have been drastically reduced over this

00:08:34.120 the agreement puts that back in place the partial removal of u.s sanctions on iran now you and i had

00:08:41.420 a discussion about this we'll talk about that the united states could agree to ease selected

00:08:46.260 economic sanctions in exchange for iranian compliance with security commitments and for

00:08:50.960 canada the impact would be mixed according to some experts additional iranian oil experts would

00:08:57.060 increase exports would increase global supply and lower energy prices but canadian consumers

00:09:03.320 and transportation companies would benefit from lower fuel costs but at the same time

00:09:09.020 lower oil prices reduce revenues investment and royalty income in alberta at a time where we're

00:09:15.020 trying to get people interested in building a pipeline with us yeah we're not listen we we

00:09:20.440 talk about this all the time we're not highly productive especially per capita having oil

00:09:26.120 prices sink hurt us more than our manufacturing increase so quite frankly that's a challenge

00:09:32.480 right now i mean we can't deny it we've been slow to build pipelines we've had you know carbon

00:09:37.580 discussions that have gone on and on and on we have fuel emission issue and restrictions these

00:09:43.380 are all the things that are back on the table again coming up for july 1 you know paul i can't

00:09:47.460 understand i'm sorry this is a diversion uh forgive me i can't understand how canada is such a

00:09:53.100 shipping hub such a transportation hub what the hell are we shipping transporting and handling

True Patriot Love - June 26, 2026

[Sneak Peek] The Iran Update 06 24 26 - What's Next？

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