This week, Peter and Jackie discuss Canada's energy security weaknesses for crude oil, natural gas, refined petroleum products, and electricity.

First, they cover recent news, including the latest on US tariffs, the Canadian Prime Minister’s Canada-US Economic Summit held on February 7th, Mark Carney’s Climate Plan, interprovincial trade barriers, and the need to attract private capital to invest in expanding Canada’s energy infrastructure, such as ports, pipelines, rail, and transmission lines.

Next, Peter and Jackie consider Ontario and Quebec's heavy reliance on crude oil and natural gas transiting through the United States. They also discuss Canada’s imports of refined petroleum products and cross-border electricity trade.

Content referenced in this podcast:

• Mark Carney Climate Plan
• CAPP Data Centre “Canadian Imports of US Crude Oil, Natural Gas and Refined Products”
• Peter Tertzakian’s story “The Long Way Around” also on Apple Podcasts
• Financial Post, July 2020: “Cenovus first to announce it’s shipping Western oil to Eastern refineries through the Panama Canal.”
• EIA blog that Canada and US trade in electricity is close to balanced (November 2024)

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This week, our guest is Anne Applebaum, a Pulitzer Prize-winning journalist, historian, and New York Times bestselling author. Her latest book, Autocracy Inc.: The Dictators Who Want to Run the World, explores the global rise of authoritarianism.

On February 6th, 2025, Anne spoke at the University of Calgary's Haskayne School of Business annual PETRONAS International Energy Speaker Series. This episode was recorded live at the event.

Jackie Forrest moderated the discussion with Anne Applebaum, which covered a wide range of topics, including the timing of her new book, the Trump administration’s early actions and executive orders, and the recent deterioration of Canadian-US relations.

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On February 1st, President Donald Trump signed an executive order titled “Imposing Duties to Address the Flow of Illicit Drugs Across Our Northern Border.” The order calls for a 25% tariff on virtually all Canadian goods imported into the United States and a 10% tariff on Canadian energy products, starting February 4th. In response, Prime Minister Justin Trudeau imposed 25% tariffs on C$155 billion worth of American goods coming into Canada, with C$30 billion starting February 4th and the remaining 21 days later.

On February 3rd, after this podcast was recorded, President Trump and Prime Minister Trudeau agreed to pause the tariffs for at least 30 days.

To help us understand the escalating trade war, we welcome the Honourable John Manley to the podcast. For over a decade, John served in the Federal Government as Canada’s Deputy Prime Minister, Minister of Finance, Minister of Foreign Affairs, and Minister of Industry. He is currently the Chairman of Jefferies Securities Inc., a member of the Board of Directors of TELUS, and a Senior Advisor at Bennett Jones.

Here are some of the questions Jackie and Peter asked the Honourable John Manley: What are your thoughts on the abrupt turn in US - Canada relations? What else should Canada be doing at this point? What are Canada’s energy vulnerabilities in this dispute? Does Canada have emergency measures it can use? Should Canada boost spending to support businesses and people, and does the prorogation of parliament limit these options?

Content referenced in this podcast:

• John Manley’s Op-ed in the Globe and Mail, “Dear Donald Trump: Your plan to create ‘the United States of Canada’ is brilliant” (January 15, 2025)
• The Main Project 25 Document Published in April 2023

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LinkedIn: @ARC Energy Research Institute

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