Opinion
Tuesday-night Trudeau

Justin Trudeau at Gatineau Airport, Oct 24 – Photo by PW
Posted with permission from Paul Wells
Justin Trudeau in a hangar, before the comeback, if there’s going to be one
If Justin Trudeau’s historic comeback happens, it will start sometime after Tuesday night, when he spoke to a Liberal Party of Canada fundraiser at the one-runway Gatineau Airport, 21 minutes’ drive from Rideau Cottage on the Quebec side of the river.
The prime minister is two months short of his 52nd birthday. Brian Mulroney was not quite 54 when he became the youngest undefeated prime minister, so far, to announce his retirement from politics. This is the sort of week when I look up numbers like that.
The polls since summer haven’t been kind to the Liberals. I have readers who get cross with me when I mention polls, but I cover the most polling-obsessed government in Canada’s history, and I must decline requests to unilaterally disarm.
Trudeau and his ministers do fundraisers all the time, as do the leaders and prominent MPs in other parties. The only difference on Tuesday was that I went to watch. After some embarrassing early headlines about fundraisers soon after the 2015 election, the Liberal Party changed its rules to increase transparency in fundraising. Now reporters get advance notice whenever Trudeau will be speaking at a fundraiser. I wanted to see what Trudeau says at such things these days, precisely because they’re routine events. Hearing how the prime minister talks to friendlies on a Tuesday night near home was, perhaps, the closest I could get to hearing how he talks to himself.
This event was a fundraiser for Gatineau MP Steven MacKinnon, a former Liberal Party national director who is serving as the government’s house leader while Karina Gould is on maternity leave. Two cabinet ministers were on hand too, Jean-Yves Duclos and Anita Anand. An organizer told the audience he’d been asked to get a smallish crowd out, “a good 50 or so;” since 67 people bought tickets, he was pretty pleased. The party had announced a ticket price up to $1,500. The crowd was of the sort that routinely gets described as overwhelmingly white and male when it’s a Conservative event, which means it was overwhelmingly white and male, but Liberal.
Trudeau spoke for twelve minutes. He opened by saying nice things about MacKinnon and thanked the two cabinet ministers. Poor Duclos thought he was just out to socialize, Trudeau joked, but Duclos is the minister of public services and procurement, “and around here we talk about a bridge.” Gales of laughter from the crowd. The riding association guy had also mentioned a bridge. There has been endless talk about a sixth bridge between Ottawa and Gatineau; neighbours near the various possible routes are leery, but a lot of people hope a new bridge would improve traffic flow, which often includes bumper-to-bumper heavy trucks on ordinary streets through the middle of Ottawa. A lot of the people who want the bridge the most run businesses. Judging from the PM’s choice of comic patter, they won’t have to wait long.
Trudeau thanked the crowd for coming out. “I know very well that everyone has plenty of choices for the various activities they could undertake on a Tuesday night in the month of October,” he said. This may have flattered the selection of fun activities in Gatineau on a Tuesday.
“You chose to come participate in a democratic event,” Trudeau continued. This was an instinct he could only applaud: “We know very well these days that it’s not always very motivating to get involved in politics. To raise your hand and say, ‘No, no, no, I want to participate in our democracy in an active and involved way. To take part in the conversations we’re having as a country in these difficult moments.’”
Trudeau contrasted this positive spirit with what certain other people, so far unnamed, like to do. “It’s very easy to point our finger at politicians, to complain about inflation or the pandemic or interest rates or labour shortages or housing or all these issues. It’s very easy, and many people decide to turn toward anger, anxiety, fear or division. Because it really pays over the short term, in politics, to rely on fear and division. But it’s so much more important to have a responsible, sensible approach, anchored in shared values. To try to bring us together rather than to divide us in an attempt to win a few points in the polls.”
One sensed an emerging central theme of contrast. “Your choice to come tonight to this Liberal event is enormously touching to me,” Trudeau said. “Because for eight years now, we’ve tried to be a government that stayed rooted in real things. In facts. In shared values. We bring people together rather than divide them for strategic reasons.”
Not only does his government, in his telling, think like good people, it does things good people will like.
“We manage to deliver for people. Even in extremely difficult moments like the ones we’re living through. People are struggling, because of the global context, extremely complex geopolitics that have a direct impact on pocketbooks, on groceries and rent. We have an important role to play as a government, to respond to today’s needs. That’s why we’ve made investments to help people pay their bills, to increase competition among the big grocers. We’re there to provide more daycare spaces. We’re there to help with dental care. We’re there to help with the Canada Child Benefit, which has lifted half a million children out of poverty in recent years. We’re there to create economic growth even as we fight against climate change.”
His audience for the night being mostly Quebecers and, as far as I could tell, mostly in business, the Liberal leader refined his course of general flattery to one of specific business-oriented flattery.
“I’m very proud of what we’ve been able to deliver in Quebec: Northvolt, Rio Tinto, REM… These are investments that show how much — here in Quebec where we’ve always understood that environmental protection and economic growth go together — everyone can make progress together.”
This was a pretty upbeat message, as partisan messages often are — we have the right ideas and the right results, and the other team is trying to wreck it all — but here again, as when he lamented how “not very motivating” the political life can be, Trudeau introduced a distinctly mournful note.
“As usual, it’s a bigger challenge to get this message out in the rest of Canada,” he said. At the risk of talking about polls, I couldn’t help thinking Trudeau was referring to recent pee oh ell ells that show Quebec as the only part of the country where his Liberals are in the lead. Despite big federal spending on Volkswagen ($13 billion) and Stellantis (probably more), the clean green future seems not to tempt a lot of Canadians. “It still feels far off, because the day-to-day is still difficult for many Canadians,” he said. “But we know very well that a society and a future are built step by step.…When we stay optimistic, when we’re reasonable, everything becomes possible in the future.”
This, he said, summing up, was “the political debate we’re having now…. Within two years — probably in two years — we’ll have elections.” That’s when people will get a chance to choose directions.
“Will we go back to the Conservative ways of trickle-down, cuts to social programs, advantages for the well-off in the hopes that they’ll eventually give everyone opportunity? It’s never worked and it won’t work better now.” Or would voters stick with the government Trudeau sees in the mirror? “We’re going to stay responsible but we’re going to keep investing,” he said.
Only now, at the end of his remarks, did Trudeau switch from French to English. “It’s always an incredible pleasure to spend time with people who are dedicated every day to building stronger communities and a stronger country.” And that was the end of that. The applause lasted for sixteen seconds. PMO staff led reporters out of the room — our access ends when the big guy stops talking.

A few observations on all this.
First, I’m struck by the way Trudeau narrowed down his expectation of election timing: “Within two years — probably in two years.” Probably anyone in a position of responsibility in any party would say an election could come any time, it’s wise to be ready, and so on. But in Trudeau’s mind, the supply and confidence agreement with the NDP seems likely to hold. He is not in a rush. Judgment Day isn’t until 2025.
Second, if he’s getting any advice to hit pause on carbon taxes, he sure doesn’t sound like he’s getting ready to take the advice. The heart of his case for himself is the notion that you can have clean energy and a thriving economy, and indeed that the latter depends on the former. That argument doesn’t require a carbon tax — theoretically, if you subsidize enough battery plants gasoline will become obsolete — but nothing in Trudeau’s fundraiser stump speech sounded like he was laying the predicate for a major retreat on carbon taxes.
BIG HONKING UPDATE, MINUTES LATER:
The feds have made a large announcement that shows the risks in making predictions. I quote:
“The Prime Minister, Justin Trudeau, today announced the government is moving ahead with doubling the pollution price rebate (Climate Action Incentive Payment) rural top-up rate, increasing it from 10 to 20 per cent of the baseline amount starting in April 2024. People who live in rural communities face unique realities, and this measure would help put even more money back in the pockets of families dealing with higher energy costs because they live outside a large city.
“Given the pressures faced by households and small businesses that use oil heating, the Prime Minister also announced that the government is moving ahead with a temporary, three-year pause to the federal price on pollution (fuel charge) on deliveries of heating oil in all jurisdictions where the federal fuel charge is in effect. This pause would begin 14 days from today. While the fuel charge is already returned to consumers through the pollution price rebate, this temporary pause would save a household that uses heating oil $250 at the current rate, on average, while the federal government works with provinces to roll out heat pumps and phase out oil for heating over the longer term.”
Third, and more generally, the case Trudeau was building was for more of the same. “It still feels far off, because the day-to-day is still difficult for many Canadians,” he said, which is how you talk when you’re hoping your ship comes in before people get a chance to pass judgment.
Incidentally, here I think it’s only fair to point out there’s been recent progress on files I often point to as evidence that Liberal plans never pan out. The Canada Growth Fund, the object of this newsletter’s first post, made its first investment this week, a $90 million equity play in a Calgary geothermal energy company. The Canada-US Energy Transformation Task Force held a second meeting. Maybe two years of process news like that will add up to an electorate that’s excited about Canada’s energy transformation. I mean, it’s possible.
Most of all, I was struck by how “more of the same” had better work for the Liberals, because if the boss has a better idea, he’s hiding it well. A leader who once ran on cost-of-living issues…
… is now running on the clean-energy future that feels tantalizingly out of reach, and lamenting his opponent’s insistence on running on cost-of-living issues. His best hunch about timing is that he has no reason to rush, and his best assessment of his work to date is that he needs to do more of it.
Liberals who feel more of a sense of urgency, futility or wasted energy will just have to get on board, I guess. The leader’s not for turning.
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Business
The CBC is a government-funded giant no one watches

This article supplied by Troy Media.
By Kris Sims
The CBC is draining taxpayer money while Canadians tune out. It’s time to stop funding a media giant that’s become a political pawn
The CBC is a taxpayer-funded failure, and it’s time to pull the plug. Yet during the election campaign, Prime Minister Mark Carney pledged to pump another $150 million into the broadcaster, even as the CBC was covering his campaign. That’s a blatant conflict of interest, and it underlines why government-funded journalism must end.
The CBC even reported on that announcement, running a headline calling itself “underfunded.” Think about that. Imagine being a CBC employee asking Carney questions at a campaign news conference, while knowing that if he wins, your employer gets a bigger cheque. Meanwhile, Conservative Leader Pierre Poilievre has pledged to defund the CBC. The broadcaster is literally covering a story that determines its future funding—and pretending there’s no conflict.
This kind of entanglement isn’t journalism. It’s political theatre. When reporters’ paycheques depend on who wins the election, public trust is shattered.
And the rot goes even deeper. In the Throne Speech, the Carney government vowed to “protect the institutions that bring these cultures and this identity to the world, like CBC/RadioCanada.” Before the election, a federal report recommended nearly doubling the CBC’s annual funding. Former heritage minister Pascale St-Onge said Canada should match the G7 average of $62 per person per year—a move that would balloon the CBC’s budget to $2.5 billion annually. That would nearly double the CBC’s current public funding, which already exceeds $1.2 billion per year.
To put that in perspective, $2.5 billion could cover the annual grocery bill for more than 150,000 Canadian families. But Ottawa wants to shovel more cash at an organization most Canadians don’t even watch.
St-Onge also proposed expanding the CBC’s mandate to “fight disinformation,” suggesting it should play a formal role in “helping the Canadian population understand fact-based information.” The federal government says this is about countering false or misleading information online—so-called “disinformation.” But the Carney platform took it further, pledging to “fully equip” the CBC to combat disinformation so Canadians “have a news source
they know they can trust.”
That raises troubling questions. Will the CBC become an official state fact-checker? Who decides what qualifies as “disinformation”? This isn’t about journalism anymore—it’s about control.
Meanwhile, accountability is nonexistent. Despite years of public backlash over lavish executive compensation, the CBC hasn’t cleaned up its act. Former CEO Catherine Tait earned nearly half a million dollars annually. Her successor, Marie Philippe Bouchard, will rake in up to $562,700. Bonuses were scrapped after criticism—but base salaries were quietly hiked instead. Canadians struggling with inflation and rising costs are footing the bill for bloated executive pay at a broadcaster few of them even watch.
The CBC’s flagship English-language prime-time news show draws just 1.8 per cent of available viewers. That means more than 98 per cent of TV-viewing Canadians are tuning out. The public isn’t buying what the CBC is selling—but they’re being forced to pay for it anyway.
Government-funded journalism is a conflict of interest by design. The CBC is expensive, unpopular, and unaccountable. It doesn’t need more money. It needs to stand on its own—or not at all.
Kris Sims is the Alberta Director for the Canadian Taxpayers Federation
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.
conflict
Middle East clash sends oil prices soaring

This article supplied by Troy Media.
By Rashid Husain Syed
The Israel-Iran conflict just flipped the script on falling oil prices, pushing them up fast, and that spike could hit your wallet at the pump
Oil prices are no longer being driven by supply and demand. The sudden escalation of military conflict between Israel and Iran has shattered market stability, reversing earlier forecasts and injecting dangerous uncertainty into the global energy system.
What just days ago looked like a steady decline in oil prices has turned into a volatile race upward, with threats of extreme price spikes looming.
For Canadians, these shifts are more than numbers on a commodities chart. Oil is a major Canadian export, and price swings affect everything from
provincial revenues, especially in Alberta and Saskatchewan, to what you pay at the pump. A sustained spike in global oil prices could also feed inflation, driving up the cost of living across the country.
Until recently, optimism over easing trade tensions between the U.S. and China had analysts projecting oil could fall below US$50 a barrel this year. Brent crude traded at US$66.82, and West Texas Intermediate (WTI) hovered near US$65, with demand growth sluggish, the slowest since the pandemic.
That outlook changed dramatically when Israeli airstrikes on Iranian targets and Tehran’s counterattack, including hits on Israel’s Haifa refinery, sent shockwaves through global markets. Within hours, Brent crude surged to US$74.23, and WTI climbed to US$72.98, despite later paring back overnight gains of over 13 per cent. The conflict abruptly reversed the market outlook and reintroduced a risk premium amid fears of disruption in the world’s critical oil-producing region.
Amid mounting tensions, attention has turned to the Strait of Hormuz—the narrow waterway between Iran and Oman through which nearly 20 per cent of the world’s oil ows, including supplies that inuence global and
Canadian fuel prices. While Iran has not yet signalled a closure, the possibility
remains, with catastrophic implications for supply and prices if it occurs.
Analysts have adjusted forecasts accordingly. JPMorgan warns oil could hit US$120 to US$130 per barrel in a worst-case scenario involving military conflict and a disruption of shipments through the strait. Goldman Sachs estimates Brent could temporarily spike above US$90 due to a potential loss of 1.75 million barrels per day of Iranian supply over six months, partially offset by increased OPEC+ output. In a note published Friday morning, Goldman Sachs analysts Daan Struyven and his team wrote: “We estimate that Brent jumps to a peak just over US$90 a barrel but declines back to the US$60s in 2026 as Iran supply recovers. Based on our prior analysis, we estimate that oil prices may exceed US$100 a barrel in an extreme tail scenario of an extended disruption.”
Iraq’s foreign minister, Fuad Hussein, has issued a more dire warning: “The Strait of Hormuz might be closed due to the Israel-Iran confrontation, and the world markets could lose millions of barrels of oil per day in supplies. This could result in a price increase of between US$200 and US$300 per barrel.”
During a call with German Foreign Minister Johann Wadephul, Hussein added: “If military operations between Iran and Israel continue, the global market will lose approximately five million barrels per day produced by Iraq and the Gulf states.”
Such a supply shock would worsen inflation, strain economies, and hurt both exporters and importers, including vulnerable countries like Iraq.
Despite some analysts holding to base-case forecasts in the low to mid-US$60s for 2025, that optimism now looks fragile. The oil market is being held hostage by geopolitics, sidelining fundamentals.
What happens next depends on whether the region plunges deeper into conflict or pulls back. But for now, one thing is clear: the calm is over, and oil is once again at the mercy of war.
Toronto-based Rashid Husain Syed is a highly regarded analyst specializing in energy and politics, particularly in the Middle East. In addition to his contributions to local and international newspapers, Rashid frequently lends his expertise as a speaker at global conferences. Organizations such as the Department of Energy in Washington and the International Energy Agency in Paris have sought his insights on global energy matters.
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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