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Alberta's Trillion Dollar Mistake
Fifty years ago, Alberta had a chance to build one of the greatest sovereign wealth funds in the world. It could have been a trillion-dollar province.
This episode, host Sam traces the full story of the Alberta Heritage Savings Trust Fund: the booms, the busts, and the mistakes made along the way. How did the richest province in Canadian history end up with almost nothing saved?
And now that Mark Carney is trying to build something similar for the whole country, does Ottawa actually know what it's doing, or is it about to make the same mistakes all over again?
Host: Sam Konnert
Credits: Aviva Lessard (Senior Producer), Sam Konnert (Host/Producer), Noor Azrieh (Host/Producer), Annie Tuba (Producer), Caleb Thompson (Audio Editor and Technical Producer), Tristan Capacchione (Senior Production Supervisor), Jesse Brown (Editor), Tony Wang (Artwork)
Photo Credit: @ABDanielleSmith
Guests: Trevor Tombe, Keith Brownsey
Background reading:
- Alberta government expects $100 payouts to arrive within 2 weeks of applications – Global News
- The Canada Strong Fund isn’t a sovereign wealth fund — and that’s OK – Policy Options
- Canada’s new sovereign wealth fund is ambitious, but its design raises questions – The Conversation
- Alberta's fund a cautionary tale for Carney's national sovereign wealth fund – National Post
- Alberta’s oil inheritance is being pilfered (by Albertans) – The Globe and Mail
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Last week, on Off the Record, Sam Konnert asked Jesse Brown all about the state of the company and where we're going in 2026. Also, why did Jesse cave to the union's demands in contract bargaining?
If you want to hear that (or if you want to catch up on all the great episodes of Off The Record you’ve missed!) become a supporter at canadaland.com/join.
If you value this podcast, Support us! You’ll get premium access to all our shows ad free, including early releases and bonus content. You’ll also get our exclusive newsletter, discounts on merch, tickets to our live and virtual events, and more than anything, you’ll be a part of the solution to Canada’s journalism crisis, you’ll be keeping our work free and accessible to everybody.
Do you know someone who should work at Canadaland? Well, our audio journalism fellowship is back this fall, and applications are open from now til the end of June. We’re looking for a couple of recent grads or working journalists who want to move into the world of audio journalism. Find out more or apply by going to labs.canadaland.com
Make sure you’re up to date on our upcoming events by going to canadaland.com/live!
Can't get enough Canadaland? Follow us @Canadaland_Podcasts on Instagram and @Canadaland_Media on TikTok!
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1394. Canada’s Goal to Save Footballers’ Lives
35:20||Ep. 1394Investigative reporter Laura Robinson and Senator Marilou McPhedran were accused of faking government documents. The RCMP were called in followed quickly by the Senate Ethics Committee. Several weeks ago that committee finally handed down their verdict. For years Robinson could say little about the case. But today she brings the whole story to Canadaland. The story of her part in an operation to save the lives of hundreds of Afghan footballers.Further Reading:A Canadian senator helped save Afghan women. The immigration department called police on her — The Toronto StarDid Canada Betray Afghanistan’s Female Soccer Players? — The WalrusCanadian senator sent documents to Afghan family that weren’t authentic, Ottawa says — The Globe & MailHost: Bruce ThorsonCredits: Tristan Capacchione (Senior Production Supervisor), Bruce Thorson (Senior Producer), Chad Galloway (Audio Editing & Production), Jesse Brown (Editor and Publisher)Fact checking by: Julian AbrahamAdditional music by: Audio NetworkSponsors: Fizz: Visit https://fizz.ca and activate a first plan using the referral code CAN25 to get 40$ off and 10GB of free data.Article: Article is offering our listeners $50 off your first purchase of $100 or more. To claim, visit https://article.com/canadaland and the discount will be automatically applied at checkout.Shopify: Sign up for your one-dollar-per-month trial today at https://shopify.caBetterHelp: Visit https://betterHelp.com/canadaland today to get 10% off your first month.Can’t get enough Canadaland? Follow @Canadaland_Podcasts on Instagram for clips, announcements, explainers and more.Find out more about the our Audio Journalism Fellowship programme at https://labs.canadaland.comIf you value this podcast, support us! You’ll get premium access to all our shows ad free, including early releases and bonus content. You’ll also get our exclusive newsletter, discounts on merch at our store, tickets to our live and virtual events, and more than anything, you’ll be a part of the solution to Canada’s journalism crisis, you’ll be keeping our work free and accessible to everybody.
1393. The End of the True Crime Industrial Complex?
24:58||Ep. 1393You might not be super familiar with the name Corus Entertainment, but you definitely know their work: Global News, Teletoon, YTV, Treehouse, Showcase etc. Since 1987 Corus has dominated Canadian media across TV and radio, but just last month (June 2026) they reported a $36.5-million loss in the third quarter! With yet another Canadian legacy media company, Corus Entertainment, at risk of being taken over by a private company, we’re lamenting the state of ownership across Canadian media, and what it means for the future of bingeable true crime. Disclosure: At one point, host San Grewal refers to the $500 million deal that the government reached with Google through the Online News Act. Canadaland does receive money through this payout. Details can be found here:https://cjc-ccj.ca/en/funding-recipients/Host: San GrewalCredits: Andrea Varsany (Producer), Kallan Lyons (Associate Producer and Fact Checking), imogen sayers (Mixing and Mastering), Tristan Capacchione (Senior Production Supervisor), Jesse Brown (Publisher)Guest: Morgan CampbellAdditional music by Audio NetworkFurther reading: Quebecor pushes for debt discount as it seeks to acquire Corus Entertainment - Globe and MailCORUS ENTERTAINMENT ANNOUNCES RECAPITALIZATION TRANSACTION - Corus EntBroadcasting Notice of Consultation CRTC 2026-103 - CRTCCorus lenders revisit a well-worn restructuring path - Globe and MailCorus reports $36.5-million loss in third quarter as revenue falls - The Globe and MailSome analysts are now saying Global’s owner is headed for bankruptcy — can Corus be saved? - Toronto StarCorus announces recapitalization deal as it seeks relief from its debt burden - Toronto Star Sponsors:Douglas: Douglas is giving our listeners a FREE Sleep Bundle with each mattress purchase. Get the sheets, pillows, mattress and pillow protectors FREE with your Douglas purchase today at https://douglas.ca/canadalandoxio: Head over to https://canadaland.oxio.ca and use code CANADALAND for your first month free! Squarespace: Check out https://squarespace.com/canadaland for a free trial, and when you’re ready to launch use code canadaland to save 10% off your first purchase of a website or domain.Learn more about our Audio Fellowship programme at https://labs.canadaland.comIf you value this podcast, support us! You’ll get premium access to all our shows ad free, including early releases and bonus content. You’ll also get our exclusive newsletter, discounts on merch at our store, tickets to our live and virtual events, and more than anything, you’ll be a part of the solution to Canada’s journalism crisis, you’ll be keeping our work free and accessible to everybody.
20. BONUS: State of the Podcast
01:25||Ep. 20Today we’re talking about Canadaland the company the show.Where is Canadaland going in 2026? CBS, CNN, maybe The Rivoli? CanCon jokes aside, today Sam sits down with Jesse to talk all about the state of Canadaland. We have a new collective bargaining agreement, we have a new Journalistic Standards and Practices document, we have new hosts coming on board.And what new shows are we working on?All this and more. Wait for it.Host: Sam KonnertCredits: Tristan Capacchione (Producer), Tony Wang (Executive Producer), Jesse Brown (Publisher)Guests: Jesse BrownPhoto: CanadalandAdditional music by Audio NetworkFind out more about Canadaland’s Audio Journalism Fellowship programme at https://labs.canadaland.comThis show is available exclusively to Canadaland supporters. To become one, go to https://canadaland.com/join/. You’ll get premium access to all our shows ad free, including early releases and bonus content. You’ll also get our exclusive newsletter, discounts on merch at our store, tickets to our live and virtual events, and more than anything, you’ll be a part of the solution to Canada’s journalism crisis, you’ll be keeping our work free and accessible to everybody.
1392. The Risks and Rewards of Tolerating FIFA
30:39||Ep. 1392It's hard not to be swept up into the overflowing joy and national pride gripping millions across the country, as Canada’s men’s national soccer team plays on the world’s largest stage, and it’s certainly an accomplishment that deserves a huge celebration. But as the economic benefits promised by FIFA don’t seem to be meeting reality, we have to ask: are the good vibes really worth the financial risk?Host: San GrewalCredits: Andrea Varsany (Producer), Kallan Lyons (Associate Producer and Fact Checking), imogen sayers (Mixing and Mastering), Tristan Capacchione (Senior Production Supervisor), Jesse Brown (Publisher)Guest: Morgan CampbellFurther reading: https://www.theglobeandmail.com/canada/article-fifa-world-cup-contracts-toronto-vancouver-host-cities/https://www.cbc.ca/news/canada/british-columbia/fifa-world-cup-benefits-vancouver-bc-9.7225612https://macleans.ca/economy/the-world-cup-is-an-economic-sinkhole/https://financialpost.com/news/is-world-cup-boon-for-canada-economyhttps://torontolife.com/real-estate/hotel-world-cup-2026-tax-tourism/https://globalnews.ca/news/11940798/stubhub-world-cup-ticket-complaint-investigation-bc/Revealed: 6,500 migrant workers have died in Qatar since World Cup awarded — The Guardian Sponsors:Douglas: Douglas is giving our listeners a FREE Sleep Bundle with each mattress purchase. Get the sheets, pillows, mattress and pillow protectors FREE with your Douglas purchase today at https://douglas.ca/canadalandFizz: Visit https://fizz.ca and activate a first plan using the referral code CAN40 to get 40$ off and 10GB of free data. Shopify: Sign up for your one-dollar-per-month trial today at https://shopify.caLearn more about our Audio Fellowship programme at https://labs.canadaland.com If you value this podcast, support us! You’ll get premium access to all our shows ad free, including early releases and bonus content. You’ll also get our exclusive newsletter, discounts on merch at our store, tickets to our live and virtual events, and more than anything, you’ll be a part of the solution to Canada’s journalism crisis, you’ll be keeping our work free and accessible to everybody.
1391. Is Iran Behind Attacks in Canada?
32:20||Ep. 1391An Iraqi man, Mohammad Baqer Saad Dawood al-Saadi, is at the center of a major U.S. terrorism case. Federal prosecutors allege he helped coordinate nearly 20 attacks across Europe and North America as an operative of Iran's Islamic Revolutionary Guard Corps (IRGC). In a recorded conversation cited in the criminal complaint, Al-Saadi allegedly claimed members of his network carried out two attacks in Canada, including the shooting at the U.S. Consulate in Toronto and an attack on a synagogue.Host Noor Azrieh speaks with terrorism and intelligence expert Dr. Jessica Davis, former CSIS strategic analyst and president of Insight Threat Intelligence, about what we actually know, how state-backed proxy networks and terrorist financing operate, and whether there is credible evidence linking recent attacks on Canadian soil to Iran.Host: Noor AzriehCredits: Sam Konnert (Host/Producer), Noor Azrieh (Host/Producer), Annie Tuba (Producer), Imogen Sayers (Mixing and Mastering), Tristan Capacchione (Senior Production Supervisor), Jesse Brown (Editor), Tony Wang (Artwork)Guest: Jessica DavisPhoto: FBIBackground reading:CSIS increases operation to combat Iranian state-directed activity, warns of continued threats – The Globe and MailCould this one man have been behind terrorist attacks on Jewish communities across Europe? – The Guardian'Who's paying for this?': Toronto police believe youth hired for gun crimes such as U.S. consulate shooting – CBC NewsAre Iranian 'sleeper cells' a threat to Canadians? Here’s what intelligence experts say – CBC NewsUnited States of America v. Mohammad Baqer Saad Dawood Al-Saadi Sponsors: Douglas is giving our listeners a FREE Sleep Bundle with each mattress purchase. Get the sheets, pillows, mattress and pillow protectors FREE with your Douglas purchase today at douglas.ca/canadalandHead over to canadaland.oxio.ca and use code CANADALAND for your first month free!Did you know we have a monthly supporter exclusive show? Next month on Off The Record, we’re bringing you something different: Sam Konnert interviews Jesse Brown following up on what he told us 6 months ago. Did he keep his promises? That will be coming out Thursday, July 2. Stay tuned!If you want to hear that (or if you want to catch up on all the great episodes of Off The Record you’ve missed!) become a supporter at canadaland.com/join.If you value this podcast, support us! You’ll get premium access to all our shows ad free, including early releases and bonus content. You’ll also get our exclusive newsletter, discounts on merch, tickets to our live and virtual events, and more than anything, you’ll be a part of the solution to Canada’s journalism crisis, you’ll be keeping our work free and accessible to everybody. Do you know someone who should work at Canadaland? Well, our audio journalism fellowship is back this fall and applications are open from now til the end of June. We’re looking for a couple of recent grads or working journalists who want to move into the world of audio journalism. Find out more or apply by going to labs.canadaland.com Make sure you’re up to date on our upcoming events by going to canadaland.com/live!Can't get enough Canadaland? Follow us @Canadaland_Podcasts on Instagram and @Canadaland_Media on TikTok!
1390. Why it's Illegal to Spy on Cows in Ontario
35:31||Ep. 1390From Upton Sinclair to modern day animal activists, going undercover has been a staple of animal cruelty reporting. But in Ontario, a court recently ruled that it might be illegal to get that footage, that reporting, in the first place — you can no longer take a job under false pretences on farms in Ontario. Why do animal rights activists believe they should have a right to lie?What do farmers and other agriculture business owners have to hide? And if it's illegal to lie to go undercover on a farm - is ALL undercover reporting now illegal?Further Reading:Ontario’s top court restores agriculture law parts targeting animal rights activists — The Canadian PressOpinion | Meat eaters and animal lovers should be appalled by ag-gag court ruling — The Toronto StarDecisions of the Court of Appeal: Animal Justice v. Ontario — Court of Appeal for OntarioW5: Alleged animal abuse at an Ontario pig farm — CTVCanadian Beef Industry — 2021 Census of AgricultureOntario Court of Appeal Reinstates Ag Gag Law, Silencing Farm Whistleblowers — Animal JusticeBeef Farmers Welcome Ontario Court of Appeal’s Decision to Provide Clarity on the Security from Trespass and Protecting Food Safety Act — Beef Farmers of OntarioHost: Jesse BrownCredits: Tristan Capacchione (Producer & Senior Production Supervisor), Bruce Thorson (Senior Producer), Chad Galloway (Audio Editing & Production), Caleb Thompson (Audio Editing & Production), Jesse Brown (Editor and Publisher)Fact checking by: Julian AbrahamAdditional music by: Audio NetworkPhoto: Aviva LessardSponsors: Fizz: Visit https://fizz.ca and activate a first plan using the referral code CAN25 to get 40$ off and 10GB of free data.Shopify: Sign up for your one-dollar-per-month trial today at https://shopify.caBetterHelp: Visit https://betterHelp.com/canadaland today to get 10% off your first month.Taskrabbit: Get ahead of your to-do list with fifteen dollars off your first task at https://Taskrabbit.ca or on the Taskrabbit app using promo code canadaland.Can’t get enough Canadaland? Follow @Canadaland_Podcasts on Instagram for clips, announcements, explainers and more.Find out more about our live events at https://canadaland.com/liveFind out more about the our Audio Journalism Fellowship programme at https://labs.canadaland.comIf you value this podcast, support us! You’ll get premium access to all our shows ad free, including early releases and bonus content. You’ll also get our exclusive newsletter, discounts on merch at our store, tickets to our live and virtual events, and more than anything, you’ll be a part of the solution to Canada’s journalism crisis, you’ll be keeping our work free and accessible to everybody.
1389. Is Mark Carney Trump's Bossy Bottom?
28:51||Ep. 1389In advance of the trilateral CUSMA negotiations, Carney’s relationship with Trump has gone from Elbows Up to Heated Rivalry. Will Carney’s flattery of Trump pay off for Canadians? Rahim Mohamed of the National Post joins to explain why, whatever happens with CUSMA, Carney is lucky to have Pierre Poilievre around as a convenient foil. Plus, politicians get noisy about the Calgary Stampede, and the controversy around the Nakba exhibit in Winnipeg. Host: Jesse BrownCredits: James Nicholson (Producer), Kallan Lyons (Associate Producer and Fact Checking), imogen sayers (Mixing and Mastering), Tristan Capacchione (Senior Production Supervisor), Jesse Brown (Editor)Guest: Rahim MohamedPhoto: The White House Students and new-to-audio reporters: Canadaland is launching another year of our Audio Journalism Fellowship! If you’re a journalism student or audio storyteller looking to gain some invaluable experience, this is a really unique opportunity. Applications close June 30th. Find out more:https://www.labs.canadaland.com/ Further reading:● Carney again praises U.S.-Iran peace deal after calling war 'worth it' | CBC News● Mexico, Canada have formed a common front on CUSMA talks, says Sheinbaum | CBC News● Opinion | Mark Carney has been flattering Donald Trump. How much is too much? - Toronto Star● Opinion | Mark Carney has the upper hand on Donald Trump. This is how he got it - Toronto Star● Calgary city council votes to stick with Stampede noise rules amid spat with province | CBC News● Human rights museum board member resigns over 'one-sided' exhibit on displaced Palestinians | CBC News● Terry Newman: Leaked email reveals secret meeting between human rights museum and Palestinian ambassador - National Post Sponsors: Shopify: Sign up for your one-dollar-per-month trial today at Shopify.ca Fizz: Visit fizz.ca and activate a first plan using the referral code CAN40 to get 40$ off and 10GB of free data. Squarespace: Check out Squarespace.com/canadaland for a free trial, and when you’re ready to launch use code canadaland to save 10% off your first purchase of a website or domain. If you value this podcast, Support us! You’ll get premium access to all our shows ad free, including early releases and bonus content. You’ll also get our exclusive newsletter, discounts on merch at our store, tickets to our live and virtual events, and more than anything, you’ll be a part of the solution to Canada’s journalism crisis, you’ll be keeping our work free and accessible to everybody.
1388. The Montreal Shooter’s Manifesto
35:24||Ep. 1388A tragic shooting in Montreal resulted in the deaths of a police officer, a civilian, and the shooter. Following the incident, Canadian media withheld the shooter’s manifesto from the public, offering cursory summaries of the contents. Rahim Mohamed of the National Post joins Jesse Brown to consider what was actually in the shooter’s manifesto. Host: Jesse BrownCredits: James Nicholson (Producer), Kallan Lyons (Associate Producer and Fact Checking), imogen sayers (Mixing and Mastering), Tristan Capacchione (Senior Production Supervisor), Jesse Brown (Editor)Guest: Rahim Mohamed Further reading:● Manifesto reveals alleged Montreal gunman's antisemitic, far-left and 'incel' ideology - Rebel News● Fallen Montreal officer identified, amid warning of possible anti-police manifesto - CTV News● Alleged Montreal shooter identified as 25-year-old Alberta man | Globalnews.ca● Montreal shooter left behind manifesto containing violent rhetoric directed at women, police, others - CTV News● Manifesto laden with incel ideology linked to Côte-des-Neiges shootings - Montreal Gazette● Kristi Noem hired in strategic advisory role for B.C. mining company | Globalnews.ca● Personal relationships between world leaders "crucial": Mila Mulroney - Global News [YouTube] Sponsors: Douglas: Douglas is giving our listeners a FREE Sleep Bundle with each mattress purchase. Get the sheets, pillows, mattress and pillow protectors FREE with your Douglas purchase today. Visit douglas.ca/canadaland to claim this offer. oxio: Head over to canadaland.oxio.ca and use code CANADALAND for your first month free! Shopify: Sign up for your one-dollar-per-month trial today at Shopify.caBetterHelp: Visit BetterHelp.com/canadaland today to get 10% off your first month. If you value this podcast, Support us! You’ll get premium access to all our shows ad free, including early releases and bonus content. You’ll also get our exclusive newsletter, discounts on merch at our store, tickets to our live and virtual events, and more than anything, you’ll be a part of the solution to Canada’s journalism crisis, you’ll be keeping our work free and accessible to everybody.