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Inflation Warning: StatsCan Sounds the Alarm

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8 minute read

The Opposition with Dan Knight

Inflation climbs, energy costs explode, and the government is literally on pause

Picture this: You’re on a plane. The engines are sputtering, the fuel gauge is flashing empty, and the ground is coming up fast. You look to the cockpit for some reassurance, some sign that the people in charge know what they’re doing. But instead, the pilots are gone. They’ve unbuckled their seatbelts, abandoned the controls, and are busy arguing over which one of them gets to be in charge next—because, you know, that’s the real priority right now.

They aren’t governing. They aren’t fixing the problems. They’re trying to save their own political skins while the country burns.

This morning’s Consumer Price Index (CPI) report tells us exactly what’s coming. Inflation is 1.9% year-over-year, and while that number seems stable, it’s a mirage—because once you strip away the government’s temporary tax gimmicks, what’s underneath is an economy about to collapse.

And just when you thought it couldn’t get worse, Trudeau is about to make it worse.

Let’s start with energy, because that’s where the pain begins. Gasoline prices are up 8.6%, natural gas is up 4.8%, and in Manitoba, gas prices just skyrocketed by a staggering 25.9% thanks to a reintroduced gas tax. That’s before Trump’s looming 25% tariff threat, which would send fuel costs spiraling even higher. This isn’t just bad economic policy—it’s a full-blown attack on the working class. Every trucker, every factory worker, every farmer in this country is about to get walloped by higher costs.

And what is Carney’s Liberal Party’s brilliant plan? Another carbon tax hike.

That’s right. While millions of Canadians struggle to afford gas, heating, and food, Trudeau is jacking up the carbon tax—again—on April 1st. That’s not a joke, that’s not speculation, that’s a fact. On that day, the carbon tax will increase to $80 per tonne, driving up gas prices by another 17 cents per liter. Heating your home? Get ready to pay even more. Running a small business? Good luck.

And if you think you caught a break on food prices, think again. The only reason restaurant meals were down 5.1% year-over-year was because of Trudeau’s temporary GST/HST tax cut—which expires in just a few days. Once it’s gone, the illusion of affordability disappears, and food prices will snap back up. Meanwhile, the housing market is still a disaster. Mortgage interest costs jumped 10.2%, rent is up 6.3%, property taxes are rising, and Trudeau is shoving half a million more immigrants into the housing market every year, making it even worse.

And here’s where it gets really ugly. Donald Trump—the current U.S. president—has made it very clear that he’s prepared to slap a 25% tariff on Canadian goods, with a 10% tariff on Canadian energy. What happens then?

  • Canadian oil becomes more expensive to export—which means less investment, fewer jobs, and higher energy prices at home.
  • Manufacturing takes a direct hit—cars, steel, lumber, and agriculture all get more expensive to sell to our biggest trading partner.
  • The Canadian dollar weakens, making everything from imported food to electronics even more costly.

And what is the Trudeau government doing in response?

Nothing. No plan. No strategy. No action. Because they can’t take action. They’ve abandoned ship. They aren’t focused on inflation, trade, or economic survival. They’re focused on themselves.

Trudeau, Mark Carney, Chrystia Freeland, and Karina Gould are on a campaign tour—not for the country, but for the Liberal Party. They’ve literally shut down Parliament—paused democracy itself—so they can focus on their leadership race. Instead of standing before Canadians and explaining how they’re going to stop this economic collapse, they’re off debating amongst themselves over who gets the keys to the sinking ship.

And make no mistake—this isn’t leadership. It’s self-preservation.

Oh sure, they’ll go on CBC and CTV, they’ll look into the camera, nod solemnly, and say they’re “deeply concerned” about affordability. They’ll talk about how they “have a plan” to help Canadians. But let’s be absolutely clear: They cannot execute anything. They can’t pass legislation. They can’t provide relief. They have shut down the government.

The only thing they can do right now is talk. And if they manage to fool enough people into electing them again? Then the real pain begins. More deficits. More immigration. More taxes. The same disastrous Liberal policies that got us here in the first place—only this time, there won’t be a GST holiday to hide the damage.

It’s not just a disgrace. It’s a joke—a sick, insulting joke at the expense of every hardworking Canadian trying to keep their head above water. This country is not some Liberal playground, a sandbox for political elites to bicker over power while the economy crumbles.

And yet, they want you to believe they care about affordability.

Really? Affordability? Because here’s what’s actually happening: The temporary GST break is gone, energy prices are about to skyrocket, and come April 1st, your gas bill goes up again—all thanks to yet another carbon tax hike, courtesy of Mark Carney. That’s right. The man Liberals are grooming to be their next leader is the same unelected banker who cooked up this disaster in the first place.

And now? He gets to inherit it.

So maybe, in some twisted way, this is justice. Maybe it’s actually a blessing that Parliament is prorogued, because it means the Liberals can’t pass any more destructive policies before they’re inevitably thrown out of office. Let Carney take the blame. Let him defend his own brainchild as Canadians get walloped with higher gas prices, higher heating costs, and higher grocery bills.

This is the Liberal legacy: crippling taxes, runaway inflation, and a government too self-absorbed to care. And they have the audacity—the absolute gall—to tell you they’re the ones who will fix it?

Enough. No more distractions. No more backroom power grabs.

Call the election. Face the people. Let Canada decide its future.

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Alberta

Alberta’s grand bargain with Canada includes a new pipeline to Prince Rupert

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From Resource Now

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Alberta renews call for West Coast oil pipeline amid shifting federal, geopolitical dynamics.

Just six months ago, talk of resurrecting some version of the Northern Gateway pipeline would have been unthinkable. But with the election of Donald Trump in the U.S. and Mark Carney in Canada, it’s now thinkable.

In fact, Alberta Premier Danielle Smith seems to be making Northern Gateway 2.0 a top priority and a condition for Alberta staying within the Canadian confederation and supporting Mark Carney’s vision of making Canada an Energy superpower. Thanks to Donald Trump threatening Canadian sovereignty and its economy, there has been a noticeable zeitgeist shift in Canada. There is growing support for the idea of leveraging Canada’s natural resources and diversifying export markets to make it less vulnerable to an unpredictable southern neighbour.

“I think the world has changed dramatically since Donald Trump got elected in November,” Smith said at a keynote address Wednesday at the Global Energy Show Canada in Calgary. “I think that’s changed the national conversation.” Smith said she has been encouraged by the tack Carney has taken since being elected Prime Minister, and hopes to see real action from Ottawa in the coming months to address what Smith said is serious encumbrances to Alberta’s oil sector, including Bill C-69, an oil and gas emissions cap and a West Coast tanker oil ban. “I’m going to give him some time to work with us and I’m going to be optimistic,” Smith said. Removing the West Coast moratorium on oil tankers would be the first step needed to building a new oil pipeline line from Alberta to Prince Rupert. “We cannot build a pipeline to the west coast if there is a tanker ban,” Smith said. The next step would be getting First Nations on board. “Indigenous peoples have been shut out of the energy economy for generations, and we are now putting them at the heart of it,” Smith said.

Alberta currently produces about 4.3 million barrels of oil per day. Had the Northern Gateway, Keystone XL and Energy East pipelines been built, Alberta could now be producing and exporting an additional 2.5 million barrels of oil per day. The original Northern Gateway Pipeline — killed outright by the Justin Trudeau government — would have terminated in Kitimat. Smith is now talking about a pipeline that would terminate in Prince Rupert. This may obviate some of the concerns that Kitimat posed with oil tankers negotiating Douglas Channel, and their potential impacts on the marine environment.

One of the biggest hurdles to a pipeline to Prince Rupert may be B.C. Premier David Eby. The B.C. NDP government has a history of opposing oil pipelines with tooth and nail. Asked in a fireside chat by Peter Mansbridge how she would get around the B.C. problem, Smith confidently said: “I’ll convince David Eby.”

“I’m sensitive to the issues that were raised before,” she added. One of those concerns was emissions. But the Alberta government and oil industry has struck a grand bargain with Ottawa: pipelines for emissions abatement through carbon capture and storage.

The industry and government propose multi-billion investments in CCUS. The Pathways Alliance project alone represents an investment of $10 to $20 billion. Smith noted that there is no economic value in pumping CO2 underground. It only becomes economically viable if the tradeoff is greater production and export capacity for Alberta oil. “If you couple it with a million-barrel-per-day pipeline, well that allows you $20 billion worth of revenue year after year,” she said. “All of a sudden a $20 billion cost to have to decarbonize, it looks a lot more attractive when you have a new source of revenue.” When asked about the Prince Rupert pipeline proposal, Eby has responded that there is currently no proponent, and that it is therefore a bridge to cross when there is actually a proposal. “I think what I’ve heard Premier Eby say is that there is no project and no proponent,” Smith said. “Well, that’s my job. There will be soon.  “We’re working very hard on being able to get industry players to realize this time may be different.” “We’re working on getting a proponent and route.”

At a number of sessions during the conference, Mansbridge has repeatedly asked speakers about the Alberta secession movement, and whether it might scare off investment capital. Alberta has been using the threat of secession as a threat if Ottawa does not address some of the province’s long-standing grievances. Smith said she hopes Carney takes it seriously. “I hope the prime minister doesn’t want to test it,” Smith said during a scrum with reporters. “I take it seriously. I have never seen separatist sentiment be as high as it is now. “I’ve also seen it dissipate when Ottawa addresses the concerns Alberta has.” She added that, if Carney wants a true nation-building project to fast-track, she can’t think of a better one than a new West Coast pipeline. “I can’t imagine that there will be another project on the national list that will generate as much revenue, as much GDP, as many high paying jobs as a bitumen pipeline to the coast.”

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Business

Carney’s European pivot could quietly reshape Canada’s sovereignty

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This article supplied by Troy Media.

Troy Media By Isidoros Karderinis

Canadians must consider how closer EU ties could erode national control and economic sovereignty

As Prime Minister Mark Carney attempts to deepen Canada’s relationship with the European Union and other supranational institutions, Canadians should be asking a hard question: how much of our national independence are we prepared to give away? If you want a glimpse of what happens when a country loses control over its currency, trade and democratic accountability, you need only look to Bulgaria.

On June 8, 2025, thousands of Bulgarians took to the streets in front of the country’s National Bank. Their message was clear: they want to keep the lev and stop the forced adoption of the euro, scheduled for Jan. 1, 2026.

Bulgaria, a southeastern European country and EU member since 2007, is preparing to join the eurozone—a bloc of 20 countries that share the euro as a common currency. The move would bind Bulgaria to the economic decisions of the European Central Bank, replacing its national currency with one managed from Brussels and Frankfurt.

The protest movement is a vivid example of the tensions that arise when national identity collides with centralized policy-making. It was organized by Vazrazdane, a nationalist, eurosceptic political party that has gained support by opposing what it sees as the erosion of Bulgarian sovereignty through European integration. Similar demonstrations took place in cities across the country.

At the heart of the unrest is a call for democratic accountability. Vazrazdane leader Konstantin Kostadinov appealed directly to EU leaders, arguing that Bulgarians should not be forced into the eurozone without a public vote. He noted that in Italy, referendums on the euro were allowed with support from less than one per cent of citizens, while in Bulgaria, more than 10 per cent calling for a referendum have been ignored.

Protesters warned that abandoning the lev without a public vote would amount to a betrayal of democracy. “If there is no lev, there is no Bulgaria,” some chanted. For them, the lev is not just a currency: it is a symbol of national independence.

Their fears are not unfounded. Across the eurozone, several countries have experienced higher prices and reduced purchasing power after adopting the euro. The loss of domestic control over monetary policy has led to economic decisions being dictated from afar. Inflation, declining living standards and external dependency are real concerns.

Canada is not Bulgaria. But it is not immune to the same dynamics. Through trade agreements, regulatory convergence and global commitments, Canada has already surrendered meaningful control over its economy and borders. Canadians rarely debate these trade-offs publicly, and almost never vote on them directly.

Carney, a former central banker with deep ties to global finance, has made clear his intention to align more closely with the European Union on economic and security matters. While partnership is not inherently wrong, it must come with strong democratic oversight. Canadians should not allow fundamental shifts in sovereignty to be handed off quietly to international bodies or technocratic elites.

What’s happening in Bulgaria is not just about the euro—it’s about a people demanding the right to chart their own course. Canadians should take note. Sovereignty is not lost in one dramatic act. It erodes incrementally: through treaties we don’t read, agreements we don’t question, and decisions made without our consent.

If democracy and national control still matter to Canadians, they would do well to pay attention.

Isidoros Karderinis was born in Athens, Greece. He is a journalist, foreign press correspondent, economist, novelist and poet. He is accredited by the Greek Ministry of Foreign Affairs as a foreign press correspondent and has built a distinguished career in journalism and literature.

Troy Media empowers Canadian community news outlets by providing independent, insightful analysis and commentary. Our mission is to support local media in helping Canadians stay informed and engaged by delivering reliable content that strengthens community connections and deepens understanding across the country.

 

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