MBP Intelligence Briefing

The MBP Intelligence Briefing delivers exclusive, insider insight into the policies, decisions, and dynamics shaping Canada’s political and economic landscape.Hosted by Ben Woodfinden, Director of MBP Intelligence and Senior Advisor at Meredith Boessenkool & Phillips, the series features weekly conversations with MBP partners Ken Boessenkool, Tyler Meredith, and Shannon Phillips, along with a monthly guest bringing fresh perspective from business, media, or public policy.Listeners can expect a mix of roundtable discussions unpacking the week’s biggest developments and in-depth interviews exploring emerging ideas and long-term trends. From fiscal outlooks and trade strategy to the forces influencing governance, regulation, and public life, each episode delivers context and clarity rooted in real experience inside government, policy, and politics.This is your exclusive MBP Intelligence Briefing, context, clarity, and strategy for Canada’s evolving political economy.You’re listening to the first 10 minutes of this week’s episode, the full one-hour roundtable is now available exclusively to members of MBP Intelligence.Want the Full Episode?Become a member to unlock:The full, ad-free weekly MBP Intelligence Briefing podcast (1-hour roundtable)Exclusive reports, policy briefings, and member newslettersInvitations to private discussions and eventsAccess to a growing community of policymakers, business leaders, and thinkers shaping the national conversationJoin MBP Intelligence here: https://mbpolicy.com/intelligence/

In this week's MBP Intelligence Briefing, Ben Woodfinden and Ken Boessenkool welcome back commodity economist Rory Johnston to the podcast, founder of Commodity Context, to unpack one of the most significant developments in global energy markets in decades.The discussion begins with the ongoing conflict involving Iran and the Strait of Hormuz—one of the world's most critical energy chokepoints—and why many analysts believed oil prices were headed toward US$200 per barrel. Rory explains why that prediction never materialized, revealing the surprising role China played in stabilizing global markets through an unprecedented collapse in crude oil imports and what may be the use of vast underground strategic oil reserves hidden from public view.The panel explores how Saudi Arabia, Russia, China and the United States have all influenced the current energy landscape, why global oil markets remain far more fragile than many realize, and how geopolitical instability is permanently changing investor perceptions of energy security.Finally, the conversation turns to Canada. Could this crisis strengthen the case for new pipelines? Should governments—not private industry—be responsible for strategic energy infrastructure? And what role could Canada play as one of the world's most reliable democratic energy suppliers in an increasingly unstable world?In this episode, they discuss:The ongoing Iran conflict and the Strait of Hormuz crisisWhy analysts expected oil to reach US$200 per barrelHow China prevented a global energy shockChina's mysterious underground strategic oil reservesThe collapse of Chinese crude importsRussia's refinery outages and their impact on global fuel suppliesWhether geopolitical risk has permanently changed oil marketsWhy Canada may be entering a new era for pipeline developmentThe strategic value of energy infrastructure beyond simple economicsWhat higher geopolitical risk means for Canadian energy exportsOn the Strait of Hormuz CrisisJohnston: The closure of the Strait of Hormuz represented the largest oil supply disruption in modern history, removing roughly 13 million barrels per day from global markets almost overnight.Roundtable: While many expected oil prices to spike above US$200 per barrel, the anticipated global energy crisis never fully materialized.Johnston: Saudi Arabia's east-west pipeline provided an important release valve, allowing millions of barrels per day to bypass the Strait of Hormuz and reducing some of the market shock.Roundtable: Although oil prices remained below worst-case forecasts, the geopolitical risk surrounding global energy supplies has fundamentally changed.On China's Hidden RoleJohnston: China's crude oil imports fell by an astonishing 5–6 million barrels per day, one of the largest demand swings ever recorded.Johnston: One of the leading theories is that Beijing has quietly relied on enormous underground strategic petroleum reserves that cannot be tracked using satellite imagery.Roundtable: China's lack of transparency has become one of the biggest challenges for global energy analysts attempting to forecast future oil markets.Johnston: The global oil market is now heavily dependent on decisions made inside Beijing—decisions that remain largely hidden from public view.On Pipeline DevelopmentJohnston: Existing pipeline corridors offer lower-cost expansion opportunities, but entirely new export routes may provide Canada with much greater strategic flexibility.Roundtable: The discussion around pipelines has shifted from environmental politics toward energy security, economic resilience, and international competitiveness.Johnston: Infrastructure that appears underutilized during normal periods can become invaluable during geopolitical crises.

The MBP Intelligence Briefing delivers exclusive, insider insight into the policies, decisions, and dynamics shaping Canada’s political and economic landscape.Hosted by Ben Woodfinden, Director of MBP Intelligence and Senior Advisor at Meredith Boessenkool & Phillips, the series features weekly conversations with MBP partners Ken Boessenkool, Tyler Meredith, and Shannon Phillips, along with a monthly guest bringing fresh perspective from business, media, or public policy.Listeners can expect a mix of roundtable discussions unpacking the week’s biggest developments and in-depth interviews exploring emerging ideas and long-term trends. From fiscal outlooks and trade strategy to the forces influencing governance, regulation, and public life, each episode delivers context and clarity rooted in real experience inside government, policy, and politics.This is your exclusive MBP Intelligence Briefing, context, clarity, and strategy for Canada’s evolving political economy.You’re listening to the first 10 minutes of this week’s episode, the full one-hour roundtable is now available exclusively to members of MBP Intelligence.Want the Full Episode?Become a member to unlock:The full, ad-free weekly MBP Intelligence Briefing podcast (1-hour roundtable)Exclusive reports, policy briefings, and member newslettersInvitations to private discussions and eventsAccess to a growing community of policymakers, business leaders, and thinkers shaping the national conversationJoin MBP Intelligence here: https://mbpolicy.com/intelligence/

The MBP Intelligence Briefing delivers exclusive, insider insight into the policies, decisions, and dynamics shaping Canada’s political and economic landscape.Hosted by Ben Woodfinden, Director of MBP Intelligence and Senior Advisor at Meredith Boessenkool & Phillips, the series features weekly conversations with MBP partners Ken Boessenkool, Tyler Meredith, and Shannon Phillips, along with a monthly guest bringing fresh perspective from business, media, or public policy.Listeners can expect a mix of roundtable discussions unpacking the week’s biggest developments and in-depth interviews exploring emerging ideas and long-term trends. From fiscal outlooks and trade strategy to the forces influencing governance, regulation, and public life, each episode delivers context and clarity rooted in real experience inside government, policy, and politics.This is your exclusive MBP Intelligence Briefing, context, clarity, and strategy for Canada’s evolving political economy.You’re listening to the first 10 minutes of this week’s episode, the full one-hour roundtable is now available exclusively to members of MBP Intelligence.Want the Full Episode?Become a member to unlock:The full, ad-free weekly MBP Intelligence Briefing podcast (1-hour roundtable)Exclusive reports, policy briefings, and member newslettersInvitations to private discussions and eventsAccess to a growing community of policymakers, business leaders, and thinkers shaping the national conversationJoin MBP Intelligence here: https://mbpolicy.com/intelligence/

The MBP Intelligence Briefing delivers exclusive, insider insight into the policies, decisions, and dynamics shaping Canada’s political and economic landscape.Hosted by Ben Woodfinden, Director of MBP Intelligence and Senior Advisor at Meredith Boessenkool & Phillips, the series features weekly conversations with MBP partners Ken Boessenkool, Tyler Meredith, and Shannon Phillips, along with a monthly guest bringing fresh perspective from business, media, or public policy.Listeners can expect a mix of roundtable discussions unpacking the week’s biggest developments and in-depth interviews exploring emerging ideas and long-term trends. From fiscal outlooks and trade strategy to the forces influencing governance, regulation, and public life, each episode delivers context and clarity rooted in real experience inside government, policy, and politics.This is your exclusive MBP Intelligence Briefing, context, clarity, and strategy for Canada’s evolving political economy.You’re listening to the first 10 minutes of this week’s episode, the full one-hour roundtable is now available exclusively to members of MBP Intelligence.Want the Full Episode?Become a member to unlock:The full, ad-free weekly MBP Intelligence Briefing podcast (1-hour roundtable)Exclusive reports, policy briefings, and member newslettersInvitations to private discussions and eventsAccess to a growing community of policymakers, business leaders, and thinkers shaping the national conversationJoin MBP Intelligence here: https://mbpolicy.com/intelligence/

The MBP Intelligence Briefing delivers exclusive, insider insight into the policies, decisions, and dynamics shaping Canada’s political and economic landscape.Hosted by Ben Woodfinden, Director of MBP Intelligence and Senior Advisor at Meredith Boessenkool & Phillips, the series features weekly conversations with MBP partners Ken Boessenkool, Tyler Meredith, and Shannon Phillips, along with a monthly guest bringing fresh perspective from business, media, or public policy.Listeners can expect a mix of roundtable discussions unpacking the week’s biggest developments and in-depth interviews exploring emerging ideas and long-term trends. From fiscal outlooks and trade strategy to the forces influencing governance, regulation, and public life, each episode delivers context and clarity rooted in real experience inside government, policy, and politics.This is your exclusive MBP Intelligence Briefing, context, clarity, and strategy for Canada’s evolving political economy.You’re listening to the first 10 minutes of this week’s episode, the full one-hour roundtable is now available exclusively to members of MBP Intelligence.Want the Full Episode?Become a member to unlock:The full, ad-free weekly MBP Intelligence Briefing podcast (1-hour roundtable)Exclusive reports, policy briefings, and member newslettersInvitations to private discussions and eventsAccess to a growing community of policymakers, business leaders, and thinkers shaping the national conversation Join MBP Intelligence here:⁠ https://mbpolicy.com/intelligence/⁠

The MBP Intelligence Briefing delivers exclusive, insider insight into the policies, decisions, and dynamics shaping Canada’s political and economic landscape.Hosted by Ben Woodfinden, Director of MBP Intelligence and Senior Advisor at Meredith Boessenkool & Phillips, the series features weekly conversations with MBP partners Ken Boessenkool, Tyler Meredith, and Shannon Phillips, along with a monthly guest bringing fresh perspective from business, media, or public policy.Listeners can expect a mix of roundtable discussions unpacking the week’s biggest developments and in-depth interviews exploring emerging ideas and long-term trends. From fiscal outlooks and trade strategy to the forces influencing governance, regulation, and public life, each episode delivers context and clarity rooted in real experience inside government, policy, and politics.This is your exclusive MBP Intelligence Briefing, context, clarity, and strategy for Canada’s evolving political economy.You’re listening to the first 10 minutes of this week’s episode, the full one-hour roundtable is now available exclusively to members of MBP Intelligence.Want the Full Episode?Become a member to unlock:The full, ad-free weekly MBP Intelligence Briefing podcast (1-hour roundtable)Exclusive reports, policy briefings, and member newslettersInvitations to private discussions and eventsAccess to a growing community of policymakers, business leaders, and thinkers shaping the national conversationJoin MBP Intelligence here: https://mbpolicy.com/intelligence/

The MBP Intelligence Briefing delivers exclusive, insider insight into the policies, decisions, and dynamics shaping Canada’s political and economic landscape.Hosted by Ben Woodfinden, Director of MBP Intelligence and Senior Advisor at Meredith Boessenkool & Phillips, the series features weekly conversations with MBP partners Ken Boessenkool, Tyler Meredith, and Shannon Phillips, along with a monthly guest bringing fresh perspective from business, media, or public policy.Listeners can expect a mix of roundtable discussions unpacking the week’s biggest developments and in-depth interviews exploring emerging ideas and long-term trends. From fiscal outlooks and trade strategy to the forces influencing governance, regulation, and public life, each episode delivers context and clarity rooted in real experience inside government, policy, and politics.This is your exclusive MBP Intelligence Briefing, context, clarity, and strategy for Canada’s evolving political economy.You’re listening to the first 10 minutes of this week’s episode, the full one-hour roundtable is now available exclusively to members of MBP Intelligence.Want the Full Episode?Become a member to unlock:The full, ad-free weekly MBP Intelligence Briefing podcast (1-hour roundtable)Exclusive reports, policy briefings, and member newslettersInvitations to private discussions and eventsAccess to a growing community of policymakers, business leaders, and thinkers shaping the national conversationJoin MBP Intelligence here: https://mbpolicy.com/intelligence/

Episode SummaryIn this special roundtable edition of the MBP Intelligence Briefing, Ben Woodfinden and Tyler Meredith are joined by leading experts in energy policy, economics, and electricity regulation to unpack the federal government's new National Electricity Strategy, Powering Canada Strong. The discussion explores what it will take to double Canada's electricity system by 2050, the trillion-dollar investment challenge, affordability concerns, electrification, economic competitiveness, and the role of natural gas in Canada's future energy mix. The panel examines whether the strategy is truly a roadmap or simply the beginning of a much larger national conversation.GuestsMerran Smith - President, New Economy Canadahttps://neweconomycanada.ca/Andrew Leach - Professor of Economics and Law, University of Albertahttps://apps.ualberta.ca/directory/person/aleachMichael Powell - Vice President, Government Relations, Electricity Canada https://electricity.ca/Segment HighlightsSegment 1: What the Strategy Actually SaysWhy the federal government shifted from a "Clean Electricity Strategy" to a broader National Electricity Strategy.The goal of doubling Canada's electricity generation, transmission, distribution, and storage by 2050.The balance between economic competitiveness, affordability, sovereignty, and emissions reduction.The evolving role of the federal government in a sector traditionally led by provinces.Segment 2: Building the GridWhat it will take to double Canada's electricity capacity.Challenges around transmission infrastructure, permitting, workforce shortages, and utility planning.The importance of interprovincial transmission and grid connectivity.Whether Canada can build at the pace required to meet future demand.Segment 3: Who Pays?The trillion-dollar investment challenge facing Canada's electricity system.The debate between taxpayers, ratepayers, and private capital.The role of federal tax credits, infrastructure funding, and public financing.How pension funds and institutional investors could help fund grid expansion.Segment 4: The Energy WalletThe strategy's argument that electrification can lower overall household energy costs.Why consumers may struggle to see long-term savings when facing higher upfront costs.The role of EVs, heat pumps, and home retrofits.The political challenge of communicating affordability benefits.Segment 5: The Economic OpportunityElectrification as a foundation for Canada's future economy.Opportunities in AI data centres, critical minerals, advanced manufacturing, and industrial growth.Canada's ability to compete globally for investment.Workforce shortages and the need for skilled labour.Segment 6: The Natural Gas QuestionThe role natural gas will continue to play in Canada's electricity system.Reliability, affordability, and emissions tradeoffs.Regional differences in generation needs and energy policy.How governments balance energy security with climate objectives.YouTube Credits: CBC News, CTV News, Global News, Bloomberg Television, CNBC, Reuters, Motion Array, balcony et-al, Videoscape, Exploring Stunning Landscapes From Above