May 15, 2025 • 14 mins
Canada's new Prime Minister, Mark Carney, is about to shake things up with an energy and sustainability agenda that might just change the landscape as we know it. Transitioning from his role as the former governor of the Bank of England to steering one of the world's largest economies, Carney is pushing for a bold shift towards renewable energy and sustainable finance. This isn't just about saving the planet—he sees it as a massive economic opportunity. But with Canada heavily reliant on its oil and gas sector, the big question is whether this agenda is visionary leadership or pie-in-the-sky thinking.
Join me, Brigham McCown, in this episode of Charged Conversations, where we take a comprehensive look at Carney's strategy, its potential impact on Canada's economy, and the possibility of a North American energy union. As we dissect the nation's economic challenges, including high inflation and job scarcity, we weigh the likelihood of Carney's vision becoming a reality. Can Canada pivot from its resource-driven economy to leading innovation in renewable energy? Tune in to explore this pivotal moment in Canada's energy landscape and its ramifications for North America.
Join me, Brigham McCown, in this episode of Charged Conversations, where we take a comprehensive look at Carney's strategy, its potential impact on Canada's economy, and the possibility of a North American energy union. As we dissect the nation's economic challenges, including high inflation and job scarcity, we weigh the likelihood of Carney's vision becoming a reality. Can Canada pivot from its resource-driven economy to leading innovation in renewable energy? Tune in to explore this pivotal moment in Canada's energy landscape and its ramifications for North America.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Welcome to another episode of Charged Conversations. I'm your host,
Brigham McCown, where we dive into complex issues regarding our
global energy landscape. Today we're going to be exploring the
ambitious yet controversial energy and Sustainability Agenda. Yes you heard
(00:21):
that right of Canada's new Prime Minister, Mark Carney, one
of the leading voices in climate finance and sustainable development.
I just got back from Canada earlier this week, where
people are complaining about economic stagnation, no growth, no opportunity,
high inflation, no jobs, and we now have a new
(00:44):
leader of our neighbor to the north. For those of
you who may not know, Mark Carney is a former
governor of the Bank of England, Yes I did say that,
the Bank of England and current Prime Minister. What's interesting
about him as a member of the Liberal Party more
akin to I suppose Democrats in this country, He's been
a powerful advocate for aggressive climate action. He's made a
(01:08):
lot of money after selling the Green Agenda and his vision,
which was articulated in international forums and talking about how
he viewed the world emphasizes the urgent need for transitioning
toward a renewable energy future. Sustainable finance and renewable energy sources.
(01:29):
Carney believes that tackling climate change is not only an
environmental imperative, but interestingly also a massive economic opportunity. Here's
Mark Curry in his own words. Now I'm reading climate
change is an existential threat, but it's also an enormous
(01:49):
economic opportunity. Transitioning to a net zero economy will drive innovation,
great jobs, and secure sustainable economic growth. Perhaps mister Carney
hasn't taken note of Europe and the green energy agenda,
which has come under various names throughout the European Union,
(02:12):
and how quite frankly, it just hasn't worked out that well. Indeed,
Carney's approach is compelling. I suppose he stresses sustainable investment,
carbon pricing, and rapid decarbonization as keys to meeting international
climate targets. What's actually somewhat interesting when I talked to
our friends in Canada is that they're some of the
(02:33):
first remind me that Canada is a resource country. What
do they make in Canada? Well, used to make a
lot of cars, used to have steel factories, used to
have a pretty good defense department also, But really Canada
is about business. Finance, the service industry, and the mining
(02:54):
of raw materials, raw materials for the energy sector and
for different industries. Yeah, if we look at what Canada
produces and how Canada's GDP actually sustains itself, we'll see
that a lot of this is really around energy production.
That's right, energy production. Let's take a look here and
(03:17):
just talking about what percent of Canada's GDP is attributable
to which sectors, and what we're going to find is interesting. Lame.
The service sector meaning they don't make anything, they provide services,
contributed almost seventy percent of the GDP, while industrial sectors
(03:38):
that means heavy industry contributed twenty two percent and agriculture
really contributed the last one point eight four. Natural resources,
mainly oil and gas, accounted for almost twenty percent of
Canada's GDP. That so, in other words, that industry sector
(03:59):
is all almost entirely oil and gas. Twenty five percent
of Canada's GDP comes to them by way of exporting things,
with most of that actually coming to the United States.
The United States is responsible for almost twenty of that
twenty five percent of Canada's GDP caused by exports. So
(04:23):
no matter how you slice it. Canada depends on providing
stuff to be made, either in Canada or elsewhere. That's
what it is. And if we take their state i e.
Province as they called of Alberta out of the equation, well,
quite frankly, the Canadian economy falls kind of flat. And
(04:43):
that's not to say that Canada can't make things for
the renewable supply chain. In fact, I argue that a
closer North American energy union, not a fifty first estate
sort of thing. Let's be honest, Trump was trolling Trudeau,
just didn't like the guy, and he told him so much.
Quite frankly, it helped the Conservatives lose the election, but
(05:08):
that's probably for another podcast. The point is, together, when
you take the US in Canada, Canadian strength and mining
of critical materials raw earth elements, oil and gas, uranium
for nuclear power plants, and other key ingredients, and put
that together with the United States, you would create an
(05:28):
unstoppable North American industrial complex. Yes, I know Mexico is
also part of the US, but let's be honest, they
have some of their own problems down south, and that's
probably a story for a later time. So back to
Carney ambitious unrealistic. Carney's critics argue that his agenda, while ambitious,
(05:50):
and even if you assume commendable, strays from realism. Oh
there it is again, straying from realism. Someone once explained
realism as that concrete wall that liberals run smack dab
into while trying to execute their agenda. You know, thinking
outside the box, hoping and dreaming and trying to figure
(06:12):
out ways to move the country and the world forward.
There's nothing wrong with that. As somebody who teaches at
a university and as a professor, I get that we
want to do that all the time, and we encourage
our students to think big, dream Yet we have to
be realistic about our goals. And when it comes to
energy policy, ideas, albeit great, simply do not control the
(06:37):
laws of physics, the laws of engineering, the laws of chemistry.
It is what it is. So the rapid pace of
transition that mister Carney advocates for faces significant economic and
technological hurdles. While transitioning to renewable sources may be a
great idea, the timeline and execution pose major challenges. And
(06:59):
I think that's one thing that those advocating for green
energy misunderstand. Yes, and I've said it here before. Our
energy mix is constantly changing. We need a little bit
of this, a little bit of that. I'm fond of
saying that your toolbox doesn't have one tool in it, Well,
neither should your energy mix. We have to be realistic.
We have to make sure that we have affordable, reliable
(07:23):
and available energy, regardless of what format comes in. But
back to my energy union for just a second. Part
of this energy transition requires stable supply chains. You cannot
be energy secure if everything you use, let's roll the
dial back to the nineteen seventies oil if it comes
from the Middle East. We found that out the hard way.
(07:46):
When you are reliant upon others for your success, well,
that's the very definition of not being independent, not being secure.
So if and when the green with solar panels and
windmills and battery powered technologies and backup are really ready
for prime time, and look, they may be, I argue
(08:10):
it's a longer landing path, a longer glide slope to
get to that zero not possible today. And that's not
just me, but that's what every major economic forecast in
the world is suggesting. Well, then step number one would
be to create your own supply chains now, wouldn't it,
Because right now there's one country that extracts almost all
(08:32):
the critical minerals and metals that are needed. There's one country. Well, okay,
a couple countries, and punchline. None of them are friendly
to the United States or the West because they're not
in the West. They do not have Western world values
of law, the rule of order. Nope, they're not. China.
(08:52):
China produces almost all of the batteries, all the materials
to make the batteries. If we're not careful, all the
evs in the world, they control all the photo of
all take systems ie solar and the wind. That's right.
Even if we could transition overnight, which we cannot, we'd
(09:13):
be relying on China. We'd be relying on China to
make sure that they said it was okay to turn
on our lights. We'd be relying on China to make
sure that the transit buses and subways just didn't stop
dead in their tracks. We'd be relying on China to
make sure that our data centers and computers and telephones worked,
(09:34):
and our national security worked. And wow, you can't see
where I'm going so. In Carnie's instance, his vision relies
heavily on massive investments in green infrastructure, and I suppose,
while on the chalkboard of academia it's theoretically sound, the
practical implementation involving financing, permitting, supply chains, tech, the logical
(10:00):
readiness investment remains quite murky. An expert guest with the
Economists pointed out the fundamental shortcoming of Carney's approach. Here's
what that expert said. The fundamental challenge with Carney's plan
is scalability. Renewable energy projects and sustainable infrastructure require massive
(10:22):
upfront capital investments, coordinated global efforts, and robust supply chains, which,
according to this expert, aren't entirely in place yet. Really
no kidding, they're not entirely in place yet because they're
not in place yet. The Prime Minister also emphasizes carbon
(10:44):
pricing as a cornerstone policy, and while effective in three
this measure often faces strong political resistance just due to
the immediate economic impacts and the heavy burdens it places
on lower income households in industries that are relying on
fossil fuels. So we have an idea that's not technologically
(11:05):
possible that requires substantial investment in capital. That money we
don't ask back to my note on how things are
not going well in Canada right now and here we
are so to address these gaps, some experts suggest a
more nuanced approach that balances idealism and pragmatism. No kidding,
(11:30):
Have you all noticed that most often the truth lies
somewhere in the middle between the extremes. The truth is,
in my viewpoint, Cartney's administration in Canada as a whole
is going to have to acknowledge the traditional role of
cleaner fossil fuels and the need for natural gas as
part of that cleaner fossil fuel, and at least for decades,
(11:53):
the role of oil to ensure energy security and economic stability.
Another analyst for energy policy said, gosh, and I think
this is pretty good. A balanced transition, aha. A balanced
transition must recognize existing energy infrastructure and their realities. Natural gas,
for example, can serve as a bridge fuel. Ignoring these
(12:15):
solutions risk energy shortages and economic disruptions. In my next podcast,
I'll talk a little bit about how Spain and Portugal
found out the hard way very recently that a balanced
transition and a balanced energy mix is pretty darn important.
Carne's emphasis on financial incentives and regulatory frameworks also requires
(12:37):
robust international collaboration, something we don't have in place. While
the West wants to collaborate amongst ourselves, it is not
the majority of the world. Emerging markets, emerging economies, developing nations.
They want what they have available, and they want it
as cheaply as they can get it. Other countries that
don't believe in Western liberal values. And I don't mean
(12:59):
liberal and a dumbmocrat sort of way. I just mean
like people have human rights, that the government can't control everything. Yeah,
they're not on board with this either. China Rush them,
and some others out there are not on board with
this model. To assure the feasibility of Carney's sustainability ambitions,
(13:21):
his administration must really prioritize transparency and realistic timelines and cooperation.
I think when you're not in government, it's easy to
suggest what the answer is, but when you're actually in charge,
things get a lot harder because you're actually required to
perform state another way, it's easy to throw rocks from
(13:44):
the peanut gallery. It's another thing to have the vision
and the ability to execute for everyone's benefits. Thank you
for joining us today on Charged Conversations. I'm your host.
We're maccown. This is a Joe Strucker production. I'll see
you next time.
Welcome to another episode of Charged Conversations. I'm your host,
Brigham McCown, where we dive into complex issues regarding our
global energy landscape. Today we're going to be exploring the
ambitious yet controversial energy and Sustainability Agenda. Yes you heard
(00:21):
that right of Canada's new Prime Minister, Mark Carney, one
of the leading voices in climate finance and sustainable development.
I just got back from Canada earlier this week, where
people are complaining about economic stagnation, no growth, no opportunity,
high inflation, no jobs, and we now have a new
(00:44):
leader of our neighbor to the north. For those of
you who may not know, Mark Carney is a former
governor of the Bank of England, Yes I did say that,
the Bank of England and current Prime Minister. What's interesting
about him as a member of the Liberal Party more
akin to I suppose Democrats in this country, He's been
a powerful advocate for aggressive climate action. He's made a
(01:08):
lot of money after selling the Green Agenda and his vision,
which was articulated in international forums and talking about how
he viewed the world emphasizes the urgent need for transitioning
toward a renewable energy future. Sustainable finance and renewable energy sources.
(01:29):
Carney believes that tackling climate change is not only an
environmental imperative, but interestingly also a massive economic opportunity. Here's
Mark Curry in his own words. Now I'm reading climate
change is an existential threat, but it's also an enormous
(01:49):
economic opportunity. Transitioning to a net zero economy will drive innovation,
great jobs, and secure sustainable economic growth. Perhaps mister Carney
hasn't taken note of Europe and the green energy agenda,
which has come under various names throughout the European Union,
(02:12):
and how quite frankly, it just hasn't worked out that well. Indeed,
Carney's approach is compelling. I suppose he stresses sustainable investment,
carbon pricing, and rapid decarbonization as keys to meeting international
climate targets. What's actually somewhat interesting when I talked to
our friends in Canada is that they're some of the
(02:33):
first remind me that Canada is a resource country. What
do they make in Canada? Well, used to make a
lot of cars, used to have steel factories, used to
have a pretty good defense department also, But really Canada
is about business. Finance, the service industry, and the mining
(02:54):
of raw materials, raw materials for the energy sector and
for different industries. Yeah, if we look at what Canada
produces and how Canada's GDP actually sustains itself, we'll see
that a lot of this is really around energy production.
That's right, energy production. Let's take a look here and
(03:17):
just talking about what percent of Canada's GDP is attributable
to which sectors, and what we're going to find is interesting. Lame.
The service sector meaning they don't make anything, they provide services,
contributed almost seventy percent of the GDP, while industrial sectors
(03:38):
that means heavy industry contributed twenty two percent and agriculture
really contributed the last one point eight four. Natural resources,
mainly oil and gas, accounted for almost twenty percent of
Canada's GDP. That so, in other words, that industry sector
(03:59):
is all almost entirely oil and gas. Twenty five percent
of Canada's GDP comes to them by way of exporting things,
with most of that actually coming to the United States.
The United States is responsible for almost twenty of that
twenty five percent of Canada's GDP caused by exports. So
(04:23):
no matter how you slice it. Canada depends on providing
stuff to be made, either in Canada or elsewhere. That's
what it is. And if we take their state i e.
Province as they called of Alberta out of the equation, well,
quite frankly, the Canadian economy falls kind of flat. And
(04:43):
that's not to say that Canada can't make things for
the renewable supply chain. In fact, I argue that a
closer North American energy union, not a fifty first estate
sort of thing. Let's be honest, Trump was trolling Trudeau,
just didn't like the guy, and he told him so much.
Quite frankly, it helped the Conservatives lose the election, but
(05:08):
that's probably for another podcast. The point is, together, when
you take the US in Canada, Canadian strength and mining
of critical materials raw earth elements, oil and gas, uranium
for nuclear power plants, and other key ingredients, and put
that together with the United States, you would create an
(05:28):
unstoppable North American industrial complex. Yes, I know Mexico is
also part of the US, but let's be honest, they
have some of their own problems down south, and that's
probably a story for a later time. So back to
Carney ambitious unrealistic. Carney's critics argue that his agenda, while ambitious,
(05:50):
and even if you assume commendable, strays from realism. Oh
there it is again, straying from realism. Someone once explained
realism as that concrete wall that liberals run smack dab
into while trying to execute their agenda. You know, thinking
outside the box, hoping and dreaming and trying to figure
(06:12):
out ways to move the country and the world forward.
There's nothing wrong with that. As somebody who teaches at
a university and as a professor, I get that we
want to do that all the time, and we encourage
our students to think big, dream Yet we have to
be realistic about our goals. And when it comes to
energy policy, ideas, albeit great, simply do not control the
(06:37):
laws of physics, the laws of engineering, the laws of chemistry.
It is what it is. So the rapid pace of
transition that mister Carney advocates for faces significant economic and
technological hurdles. While transitioning to renewable sources may be a
great idea, the timeline and execution pose major challenges. And
(06:59):
I think that's one thing that those advocating for green
energy misunderstand. Yes, and I've said it here before. Our
energy mix is constantly changing. We need a little bit
of this, a little bit of that. I'm fond of
saying that your toolbox doesn't have one tool in it, Well,
neither should your energy mix. We have to be realistic.
We have to make sure that we have affordable, reliable
(07:23):
and available energy, regardless of what format comes in. But
back to my energy union for just a second. Part
of this energy transition requires stable supply chains. You cannot
be energy secure if everything you use, let's roll the
dial back to the nineteen seventies oil if it comes
from the Middle East. We found that out the hard way.
(07:46):
When you are reliant upon others for your success, well,
that's the very definition of not being independent, not being secure.
So if and when the green with solar panels and
windmills and battery powered technologies and backup are really ready
for prime time, and look, they may be, I argue
(08:10):
it's a longer landing path, a longer glide slope to
get to that zero not possible today. And that's not
just me, but that's what every major economic forecast in
the world is suggesting. Well, then step number one would
be to create your own supply chains now, wouldn't it,
Because right now there's one country that extracts almost all
(08:32):
the critical minerals and metals that are needed. There's one country. Well, okay,
a couple countries, and punchline. None of them are friendly
to the United States or the West because they're not
in the West. They do not have Western world values
of law, the rule of order. Nope, they're not. China.
(08:52):
China produces almost all of the batteries, all the materials
to make the batteries. If we're not careful, all the
evs in the world, they control all the photo of
all take systems ie solar and the wind. That's right.
Even if we could transition overnight, which we cannot, we'd
(09:13):
be relying on China. We'd be relying on China to
make sure that they said it was okay to turn
on our lights. We'd be relying on China to make
sure that the transit buses and subways just didn't stop
dead in their tracks. We'd be relying on China to
make sure that our data centers and computers and telephones worked,
(09:34):
and our national security worked. And wow, you can't see
where I'm going so. In Carnie's instance, his vision relies
heavily on massive investments in green infrastructure, and I suppose,
while on the chalkboard of academia it's theoretically sound, the
practical implementation involving financing, permitting, supply chains, tech, the logical
(10:00):
readiness investment remains quite murky. An expert guest with the
Economists pointed out the fundamental shortcoming of Carney's approach. Here's
what that expert said. The fundamental challenge with Carney's plan
is scalability. Renewable energy projects and sustainable infrastructure require massive
(10:22):
upfront capital investments, coordinated global efforts, and robust supply chains, which,
according to this expert, aren't entirely in place yet. Really
no kidding, they're not entirely in place yet because they're
not in place yet. The Prime Minister also emphasizes carbon
(10:44):
pricing as a cornerstone policy, and while effective in three
this measure often faces strong political resistance just due to
the immediate economic impacts and the heavy burdens it places
on lower income households in industries that are relying on
fossil fuels. So we have an idea that's not technologically
(11:05):
possible that requires substantial investment in capital. That money we
don't ask back to my note on how things are
not going well in Canada right now and here we
are so to address these gaps, some experts suggest a
more nuanced approach that balances idealism and pragmatism. No kidding,
(11:30):
Have you all noticed that most often the truth lies
somewhere in the middle between the extremes. The truth is,
in my viewpoint, Cartney's administration in Canada as a whole
is going to have to acknowledge the traditional role of
cleaner fossil fuels and the need for natural gas as
part of that cleaner fossil fuel, and at least for decades,
(11:53):
the role of oil to ensure energy security and economic stability.
Another analyst for energy policy said, gosh, and I think
this is pretty good. A balanced transition, aha. A balanced
transition must recognize existing energy infrastructure and their realities. Natural gas,
for example, can serve as a bridge fuel. Ignoring these
(12:15):
solutions risk energy shortages and economic disruptions. In my next podcast,
I'll talk a little bit about how Spain and Portugal
found out the hard way very recently that a balanced
transition and a balanced energy mix is pretty darn important.
Carne's emphasis on financial incentives and regulatory frameworks also requires
(12:37):
robust international collaboration, something we don't have in place. While
the West wants to collaborate amongst ourselves, it is not
the majority of the world. Emerging markets, emerging economies, developing nations.
They want what they have available, and they want it
as cheaply as they can get it. Other countries that
don't believe in Western liberal values. And I don't mean
(12:59):
liberal and a dumbmocrat sort of way. I just mean
like people have human rights, that the government can't control everything. Yeah,
they're not on board with this either. China Rush them,
and some others out there are not on board with
this model. To assure the feasibility of Carney's sustainability ambitions,
(13:21):
his administration must really prioritize transparency and realistic timelines and cooperation.
I think when you're not in government, it's easy to
suggest what the answer is, but when you're actually in charge,
things get a lot harder because you're actually required to
perform state another way, it's easy to throw rocks from
(13:44):
the peanut gallery. It's another thing to have the vision
and the ability to execute for everyone's benefits. Thank you
for joining us today on Charged Conversations. I'm your host.
We're maccown. This is a Joe Strucker production. I'll see
you next time.
Popular Podcasts
NFL Daily with Gregg Rosenthal
Gregg Rosenthal and a rotating crew of elite NFL Media co-hosts, including Patrick Claybon, Colleen Wolfe, Steve Wyche, Nick Shook and Jourdan Rodrigue of The Athletic get you caught up daily on all the NFL news and analysis you need to be smarter and funnier than your friends.
On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com