EXCLUSIVE: The Real Reason Team Carney Suddenly... Loves Pipelines!?

Not a transition fund.Your transition fund, sorry.Global transition fund.

They finally have revealed their cards.Welcome back to Moose on Loose.My name's David.Today, Tim Hodgson does an interview on CBC where he gets kind of grilled.Through this interview, it becomes abundantly clear the timing of everything, the pipeline, USMCA, this all comes together.Let's jump into this.

I showed in a previous video, this is a one million barrel per day pipeline, and Marty up north did some of the math on this.This would take about 15, at least maybe 20 years to pay back taxpayers.This pipeline would only bring in between maybe one and one and a half to 1 .8 billion dollars per year but if it costs 40 billion dollars to build 20 years to get our money back and nobody's talking about the pathways project which is going to cost 16 .5 billion dollars so this is a 57 billion dollar project.

Alberta's pitch does note that the pipeline could cost an estimated 35 to 43 billion dollars.The initial indications about this pipeline were it seemed that it was going to be built with private money.Prime Minister Carney said in November, if there's not a private sector proponent, there won't be a pipeline.Now, it seems the vast majority of this, perhaps 90 percent, is going to be public money.If the bar here, your own bar for doing this with private financing, hasn't been met, why are you moving forward with the project?

Catherine, Canadians understand that there are four things about this project that why it needs to go forward.The first is national security.I think the announcement on July 1st that the U .S.doesn't want to move forward with Kuzma was pretty clear.

uh the old world that we were involved in no longer exists we need these sleazy guys i can't believe i didn't see this i'm going to show you some math later that i've just recently figured out here that makes this whole thing crystal clear what they're doing but these sleazy guys intended to wait until the usmca did not get renewedThat's why Mark Carney didn't negotiate, didn't even start formal negotiations, because he needed this narrative to say, you know what?Now we need to do this pipeline.I'm sorry, guys.I'm Mr. Net Zero.Got to do the pipeline for our own national security.

And I'm going to show you the numbers, and it makes so much sense after you see it.

To look after ourselves, we need to do more for ourselves than anyone can take away from us.This is part of building for ourselves, building an autonomy for ourselves going forward.The second is economic prosperity.This project is the most significant economic opportunity in the country today.It is the largest generator of GDP of any project we're looking at.It's $16 billion a year.

for the people of Canada that pays for health care, that pays for dental care, which pays for child care, which pays for subsidized post -secondary education at a time when affordability is on everybody's mind.

that are the most interesting though.There's another aspect to this, but we'll just let him finish here.

Thirdly, it brings Alberta into the fold of with the rest of Canada from a sustainability standpoint.A year ago, we were not seeing eye to eye with the province of Alberta.Today, we have agreement on world leading methane reduction.We have agreement on how we're going tocarbon markets going forward and we build the single biggest carbon capture and storage project in the world.

You notice talking about this pipeline, what does he bring up?Methane and this carbon capture project, the pathways project.

He seems more interested in that than that should give you a clue Canada is a world leader in clean tech with this project going forward.And fourth, and really importantly, as I'm sitting here in Alberta, is national unity.Albertans want to know there's a place for them in Canada going forward.We have found a path through the MOU, through the integration agreement, and through this part of that bigger package to show Alberta there is a good place for them in Canada.And for all those reasons, we need to engage with the world the way it is, not as we wish it to be.And we're going to build this project.

And yet you are the ones, it was the federal government and Alberta who wrote in this MOU, construction of one or more private sector constructed pipelines.That's the language that you folks chose.There's no mention of public funds.Did you know then?that the lion's share of this was going to be public money?

I'll give credit where it's due.Normally, they do not ask good questions or hard questions.She is asking a good question here because they said this would be private financed and now it's being public financed.What does he have to say?

So, look, as we look at this, we're focused on attracting private sector capital to this.That's what we've done.We've attracted Pembina to this.I think when we first started, people were worried about whether this would be a good investment.What I can tell you today is we've been approached many times about selling the Trans Mountain Pipeline.The Trans Mountain Pipeline is a money maker.

It's one of the best assets that this country has.

Wait, so oil and gas, the pipelines are evil for the first year and a half of the Carney government.Now they're the best assets we have in the country.They're a big moneymaker.People want to buy it, yet there's not a proponent coming to build this pipeline.He mentioned Pembita, and I believe they're 10 % is what they were likely going to sign into.10%, which means taxpayers will be on the hook for 90%.

It is generating oodles of cash.It is full.People said it wouldn't be full.It is full.It is generating oodles of cash.

David Eby says it's not full.What's the truth?Now I've already looked this up on the channel.It is mostly full.It's like 90 something percent full.

That cash is paying for our daycare.It's paying for our health care.It's paying for our subsidized post desk secondary education.It's paying for the school lunch programs that Canadians want.

But Minister, I'm going to interrupt because it doesn't answer the question.And the question is, when you put the MOU out, did you realize this was going to be mostly public money?

So what we wanted to make sure was we attracted a private sector proponent.And that's what we've done.We've got a private sector proponent who's saying, hey, this is, we think this is a good opportunity.

We're going He's just going to keep word saluting here.So only Pembina 10 % is what they got.I think they probably wanted a private sector proponent to do this because it would have been easier for them to do it, but they need to have pathways in there.Let's break down some of the math.So it all makes sense.So how the math works out, we've got the south pipeline route, we've got between 35 and $43 billion to build this project.

As I mentioned, the pathways project will be another 16 .5 up to $20 billion.We'll just have it at 16 .5 on here upstream drilling oilfield expansions, 100 billion dollars that's to build out the oil industry to produce more oil because we need more oil for a new pipeline it's a million barrels a day for the pipeline there's 365 days a year so 365 million barrels of oil per year 70 dollars per barrelI believe right now it's 69 bucks, something around there, I stand corrected, it's 75 .76 US a barrel right now with an annual cargo value of roughly $25 .5 billion.There's a toll per barrel for the pipeline itself $4 .50 per barrel gross, that's $1 .64 billion for taxpayers that we would make, but then the operating costs, maintenance, financing, etc, is a billion dollars.So we're making around $600 million year on this pipeline.oil companies Now what makes all of this abundantly clear is we haven't talked about the Pathways project, the target by 2035, 6 million tonnes of CO2 per year.

Pricing by 2040, pricing schedule $110 per ton.And this is a tiered system.We're not going to get all the nitty gritty on this, but basically$110 per tonne.taxpayers Hart Carney wants to do this and Tim Hodgson.What's Tim Hodgson invested in?

Does he have Brookfield stocks?Something to know.They won't release that information.I keep asking them.I've emailed them.They will not give out that information.

They hide his stocks saying it's all behind ethics.The ethics screen has it.That's good enough.Taxpayers don't need to see what our energy minister is invested in.Now, the pipeline is good for the oil companies.They make a killing on it.

Taxpayers are the only ones not making big money on this.This will take years to pay back the money.So she asked again about public money and how much is it?Because this is not just taxpayers federally, but also provincially.

In Alberta's, the proposition that they put forward to you folks, they suggest the pipeline in order to build it will cost between 35 billion and 43 billion dollars to build.Pembina is in for 10 percent right now.The remainder, it seems to me, is federal and Alberta money split in half.So what do we talk in here about federal contributions, somewhere between, what, 50 and 20 billion dollars?

So you just use the word that number is 33 billion.I just told you that this project will generate 16 billion.of GDP a year.$16 billion a year.

You know who gets that, though?It's the companies that are involved in the production, the building of this, the ones that benefit from the carbon capture, carbon credit industry.This GDP, a lot of this growth goes to places, to companies like Brookfield.

Trans Mountain Pipeline is highly profitable.Right.I am quite comfortable that this is a good investment for Canadian taxpayers.And it's part of that bigger This guy's such a bum, he won't answer a question.

She even asked him again.

But minister, no one has said what the federal investment is. I hear you about the payoff.I just want to understand.And I think it's a pretty basic question.How many federal dollars, roughly, you expect to invest?Is it 50?

This is embarrassing.When you have CBC grilling you, he doesn't answer the question.

15 to 20 billion dollars.Is there some other factor that that plays into this?

No, I don't have the numbers in front of me right now, Catherine, so I don't want to make numbers.

Of course, he doesn't have the numbers in front of him.You know what?If I was minister of energy and this was a project I was doing, I would know all the numbers off by heart.I could name every single thing about this project.So either this guy is a complete charlatan liar who's hiding it, which is the case here.This is a numbers guy.

He used to work at Goldman Sachs or he's a complete buffoon, which he's not.He knows what he's doing.This guy is a conniving, swindly weasel.who doesn't want to be up front with who's really going to make money on this.So you might be wondering now, how do we get to this being paid off in 20 years versus like 100 years?It's $600 million a year that we're getting from this pipeline, and it's 40 something billion dollars.

That'd be 80, 90, 100 years to pay it off.Well, oil companies have to pay their share of taxes by them paying their taxes.Roughly, this is just rough estimates because we don't have the exact numbers or just based off of other pipelines and stuff.We've got Alberta royalties plus provincial taxes, approximately 0 .8 to 3 .5.billion a year.Federal would get roughly $1 .1 to $1 .8 billion a year in British Columbia.

They're going to be getting taxes from the new ports and other things.income taxes, royalties, etc.$200 million to $500 million a year.So roughly between $4 .1 and $5 .8 billion a year in revenue.In comparison, the Pathways project offering nothing to Canadians is making half of all of this revenue, yet it's going to cost taxpayers, time will tell, $10 billion to build an industry for Mark Carney and his buddies at Brookfield?

But the previous pipeline cost in the $30 billion to $40 billion range, that's a reasonable thing to look at.

Pardon me, sir.I didn't mean to interrupt there.I do want to ask you, though, you talk about the private sector of this.Pembina says it has tentatively essentially signed on with this 10 percent stake.I look at the language in their news release.Very cautious.

They point out the deal is non -binding.They still need to evaluate participation.There are conditions that have to be met.

So basically, Pembina, they're the only one that could get on board because nobody wants to do this with the industrial carbon tax, the tanker ban.So basically, it has to go down to the south.There's too many green regulations here that's scaring away all the oil companies.And this is the only one that's maybe will jump in on this.But still, it's taxpayers footing the bill for this again.

And when we try to understand the future of this project, is there a world like does the pipeline still go ahead if they don't sign on to this in the long run?

So we are moving at speeds we haven't moved at in generations.As the premier said, we need to do that.The world is in a difficult place.We just saw on July 1st of

war.have to pay for it and you've got to be okay with that.They use this as a dirty tactic.It all makes perfect sense now.

Allies are running out of natural resources and energy.They desperately want our energy.We need to move forward.This is an opportunity to move forward in a way that addresses national security.It's a way that addresses national prosperity.It's a way to address sustainability and have.

OK, we're done with that.So it's funny.He says our allies, well, the allies who need this stuff is in Europe and this is being shipped over to Asia.So where is this oil going to go to?It's going to go to China.It's going to go to India.

Are those our allies?

And have a functioning carbon market and a Alberta that's in Canada.And it's it's a way to move forward at a time where national unity is really important.

I'm interested in what you said.You brought up Kuzma twice.Now, you would say to Canadians explicitly that part of the reason to go forward with this pipeline is because the Americans don't want to renew Kuzma.

Absolutely.When we only have one customer for our oil and we sell that oil at a discount to world markets because we only have one customer and that customer is doing things that are weaponizing our trade against us.The way you respond is you create the ability to sell to the rest of the world.

This all makes perfect sense.Now, you know what?They could have done this a year ago and approved a pipeline like this or to Prince Rupert, and it would have given usmore leverage to get a deal.They chose to wait to have this blow up so they could use this as an excuse.And now liberals will go along with it.

OK, I guess we'll do the pipeline.We've got to fight back against that evil Donald Trump.That's perfectly OK, Carney and Minister Hodgson.Go ahead, guys.Do it.We'll back you now.

These guys are devious what they're doing here.This pipeline is for Carney's carbon market and not for Canadians.This isn't good for us.We need the oil companies to build this for themselves and then they can get stinking rich off of this and pay us a bunch of royalties without any risk to taxpayers.

We need to be able to earn a world price for our oil.When we sell at a discount to the Americans, we are losing billions of dollars that we could be spending on health care, that we could be spending.

We could be building a refinery in Alberta and then sell them finished product and they would still buy it and we would make that money.Why aren't you doing that?This is not rocket science here.

on dental care, that we could be spending on daycare, that we could be spending on our school lunch programs.I think Canadians expect us to get the best price for our resources so we can provide the services Canadians want.And if we're going to do that, we need to get a pipeline built to the coast.

There it is.They're telling Canadians, you know what, this is the only way to fight back against the evil Donald Trump.They could have did this a year ago, got leverage, and we'd have a secure deal.Canadians wouldn't be losing their jobs in the auto industry, the forestry industry, the steel, aluminum, tool and die.But they are doing this for themselves.These guys are greedy, has nothing to do with saving Canada or building our sovereignty.

This is all about carbon capture.

Former cabinet colleague Stephen Gilbo would be familiar with all of those arguments.He is still a sitting Liberal MP.He reacted to news of this pipeline by saying, in part, Another project will be funded by taxpayers, even as oil companies are expected to earn $60 billion in profits this year.All of this is happening as we are seeing heat waves hitting numerous countries.of the globe and as northern Quebec is seeing four times the number of forest fires we would normally have at this time of year.What do you say to Mr. Guilbault?

I respect Stephen.He's a friend.We have a different view on how we're going to get to net zero.The Prime Minister has said we're going to build our way to net zero, not shrink and prohibit our way to net zero.We're doing that.by building the largest carbon capture and storage project in the world.

We're doing that by creating functioning carbon markets that we did not have before under the old plan.We're doing that by announcing an electricity strategy, which is doubling our clean generating electric grid, which will reduce.

18, maybe Francois -Philippe Champagne.I don't know how many people Mark Carney told to invest in Brookfield or name a company that Carney's invested in train technologies, heat pumps, Enercare, all this stuff as he became prime minister, but clearly Tim's on the inner circle here.Stephen Giebel's on the outer circle and these guys are starting to clash.This is a part of this Brookfield interview that I have showed before where Mark Carney talks about Infinium green jet fuel.This is a long video, but I didn't see this part of the video.Listen to this.

Carney gets asked about what the most important thing to invest in is.What do you think his answer is?If you could only invest in one thing today, what would it be?

If I could only invest in one thing, I would invest in, um, well, if I could only invest in one thing, I'd invest in our transition fund.In a transition fund?Yeah.Not a transition fund.Your transition fund.Sorry.

Global transition fund.

If you could only invest in one thing, it's the Brookfield Global Transition Fund 1.This is why I keep bringing up on the channel.It's the most important thing that Canadians need to know about, that Canadians should realize how Carney's going to get stinking rich off of.The very thing I have all this math on here on how this is going to work out, where he can get upwards of $1 .22 billion.Brookfield regularly gets 18 % returns, if not higher.And even on the 10 -year fund, that puts Carney up at $400 million in the minimum.

And if this goes to a 12 -year fund, then he's up to $650 million.He's able to push a lot of Canadian capital, sovereign wealth funds, and he's pushing that up to seven, eight, 900, maybe $1 .2 billion right in his own pocket.This is the number one thing Canadians need to understand.

Well, if I could only invest in one thing, I'd invest in our transition fund.In a transition fund.Yeah, not a transition fund.Your transition fund, sorry.Brookfield Global Transition Fund.

Brookfield Global Transition Fund.That's where all of his eggs are.He put all of his eggs in that one basket.It has nuclear, carbon capture, carbon credits.All of this stuff is in that one basket.His entire life's work is put into that one big payday to make Mark Carney rich.

And he's trying to use an entire nation to do it.And in the process, he has not got to deal with Donald Trump intentionally.We have business uncertainty now in Canada.Canada, going year after year with annual reviews.

And that's exactly what we don't have now.

And that's what Mark Carney and Tim Hodgson needed to push forward with this pipeline to get pathways built.And all we really needed was a new pipeline up to Prince Rupert, no carbon taxes,no industrial emissions caps.Get rid of the nine bad laws.

I think the North Coast ban is ridiculous.American tankers travel through those same Pacific waters all the time, from Alaska to the U .S.West Coast.So why does Mark Carney believe it's safe for our American tankers carrying American oil from Alaska to California is safe, but it's not safe for us to send Canadian oil over to Asia through the same passages.

Because Pathways.He put all of his eggs in one basket.This is his Hail Mary to get rich.