Alberta Premier Smith Asks Federal Environment Minister to ‘Disavow' Guilbeault's Comments on Pipelines
Alberta Premier Danielle Smith reacted to federal cabinet minister Steven Guilbeault's comments about Canada not needing new pipelines, a day after Prime Minister Mark Carney said they could be built if there is a consensus.
Before the first meeting of the new federal cabinet on May 14, Guilbeault said there is no reason to build new pipelines if the government-owned Trans Mountain pipeline is only operating at 40 percent capacity. He added global demand for oil is estimated to peak by 2028–2029.
Later that day, Smith issued a
Smith said these types of comments by Guilbeault were an example of how he had been an obstacle to Alberta during his tenure as environment minister. Guilbeault was shuffled out of the role by Carney in March and put in charge of the Canadian heritage portfolio.
'We ask for the new environment minister [Julie Dabrusin] to disavow his comments and commit to working with Alberta to build new pipelines to access new markets,' Smith said.
Canada Energy Regulator
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5/14/2025
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The latest spat between Smith and Guilbeault comes after a federal election campaign heavily focused on strengthening Canada's economy in the face of U.S. tariffs. Carney has pledged to speed up the approval of major projects, and said Canada needed to develop more projects for 'clean and conventional energy.'
Canada's most valuable export is crude oil and most of the production flows south to the United States. There is also no pipeline connecting Alberta and Eastern provinces, which are dependent on U.S. operators.
Carney made his most favourable
Asked by reporters about the matter before the cabinet meeting, Guilbeault pushed back.
'People should remember that we bought a pipeline, Trans Mountain, and that is only used right now at about 40 percent capacity,' he said. 'So I think before we start talking about building an entire new pipeline, maybe we should maximize the use of existing infrastructure.'
Guilbeault also said there are no investors to build an East-West pipeline. Conservative Leader Pierre Poilievre said during the election campaign there is no investor because of federal laws like the Impact Assessment Act (formerly known as Bill C-69) that make it difficult to build major infrastructure.
Carney told CTV News he's open to making changes to the Impact Assessment Act, to help move projects ahead. He has however insisted that his government will maintain the legislation, despite objection by Premier Smith.
Guilbeault wasn't as committed to making changes to the law, saying 'these are important conversations that we will need to have in the coming weeks.'
Taking over the environment portfolio in Carney's new cabinet is Toronto MP Julie Dabrusin. She had no immediate public comment and The Epoch Times reached out to her department but didn't immediately hear back.
Dabrusin had served as a parliamentary secretary to Guilbeault in previous years. Guilbeault noted her work in fighting 'big polluters' at his side in a
Smith's reaction to Guilbeault came a few days after she
Smith said the carbon price for businesses has become 'too high to bear' and is negatively impacting competitiveness at a time of heightened economic uncertainty. Environment Canada reacted by saying that when a province makes a significant change to its system, the federal government has to reassess the 'stringency of that system against benchmark standards.'
Alberta's premier had sparred with Carney's predecessor, Justin Trudeau, over policies impacting the province, and she
'Albertans are proud Canadians that want this nation to be strong, prosperous, and united, but we will no longer tolerate having our industries threatened and our resources landlocked by Ottawa,' she said.
Smith
Carney responded to Smith's post by saying the two leaders are 'focused on bringing down the cost of living and increasing opportunities in the energy sector for hard working Albertans.'
Carolina Avendano contributed to this report.
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San Francisco Chronicle
38 minutes ago
- San Francisco Chronicle
Here's what to know about American Samoans in Alaska who are being prosecuted after trying to vote
WHITTIER, Alaska (AP) — FOR MOVEMENT AT 9 A.M. EASTERN ON SATURDAY, 6/7. WITH VOTING-AMERICAN SAMOANS MAINBAR. They were born on U.S. soil, are entitled to U.S. passports and allowed to serve in the U.S. military, but 11 people in a small Alaska town are facing criminal charges after they tried to participate in a fundamental part of American democracy: voting. The defendants, who range in age from their 20s to their 60s, were all born in American Samoa — the only U.S. territory where residents are not automatically granted citizenship at birth. Prosecutors say they falsely claimed American citizenship when registering or trying to vote. The cases are highlighting another side of the debate over exaggerated allegations of voting by noncitizens, as well as what it means to be born on American soil, as President Donald Trump tries to redefine birthright citizenship by ending it for children of people who are in the country illegally. 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In Hawaii, one resident who was born in American Samoa, Sai Timoteo, ran for the state Legislature in 2018 before learning she wasn't allowed to hold public office or vote. She also avoided charges. Is there any legislation to fix this? American Samoans can become U.S. citizens — a requirement not just for voting, but for certain jobs, such as those that require a security clearance. However, the process can be costly and cumbersome. Given that many oppose automatic citizenship, the territory's nonvoting representative in Congress, Aumua Amata Coleman Radewagen, has introduced legislation that would streamline the naturalization of American Samoans who do wish to become U.S. citizens. The bill would allow U.S. nationals in outlying U.S. territories — that is, American Samoa — to be naturalized without relocating to one of the U.S. states. It would also allow the Department of Homeland Security to waive personal interviews of U.S. nationals as part of the process and to reduce fees for them. ___ Bohrer reported from Juneau, Alaska, and Johnson from Seattle.
Hamilton Spectator
41 minutes ago
- Hamilton Spectator
Here's what to know about American Samoans in Alaska who are being prosecuted after trying to vote
WHITTIER, Alaska (AP) — FOR MOVEMENT AT 9 A.M. EASTERN ON SATURDAY, 6/7. WITH VOTING-AMERICAN SAMOANS MAINBAR. They were born on U.S. soil, are entitled to U.S. passports and allowed to serve in the U.S. military, but 11 people in a small Alaska town are facing criminal charges after they tried to participate in a fundamental part of American democracy: voting. The defendants, who range in age from their 20s to their 60s, were all born in American Samoa — the only U.S. territory where residents are not automatically granted citizenship at birth. Prosecutors say they falsely claimed American citizenship when registering or trying to vote. The cases are highlighting another side of the debate over exaggerated allegations of voting by noncitizens , as well as what it means to be born on American soil, as President Donald Trump tries to redefine birthright citizenship by ending it for children of people who are in the country illegally. 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American Samoans can participate in local elections on American Samoa, including for a nonvoting representative in Congress. Have other states prosecuted American Samoans for trying to vote? Supporters of the American Samoans in Whittier have called the prosecutions unprecedented. One of Smith's attorneys, Neil Weare, suggested authorities are going after 'low-hanging fruit' in the absence of evidence that illegal immigrants frequently cast ballots in U.S. elections. Even state-level investigations have found voting by noncitizens to be exceptionally rare. In Oregon, officials inadvertently registered nearly 200 American Samoan residents to vote when they got their driver's licenses under the state's motor-voter law. Of those, 10 cast ballots in an election, according to the Oregon Secretary of State's office, but officials found they did not intend to break the law and no crime was committed. In Hawaii, one resident who was born in American Samoa, Sai Timoteo, ran for the state Legislature in 2018 before learning she wasn't allowed to hold public office or vote. She also avoided charges. Is there any legislation to fix this? American Samoans can become U.S. citizens — a requirement not just for voting, but for certain jobs, such as those that require a security clearance. However, the process can be costly and cumbersome. Given that many oppose automatic citizenship, the territory's nonvoting representative in Congress, Aumua Amata Coleman Radewagen, has introduced legislation that would streamline the naturalization of American Samoans who do wish to become U.S. citizens. The bill would allow U.S. nationals in outlying U.S. territories — that is, American Samoa — to be naturalized without relocating to one of the U.S. states. It would also allow the Department of Homeland Security to waive personal interviews of U.S. nationals as part of the process and to reduce fees for them. ___ Bohrer reported from Juneau, Alaska, and Johnson from Seattle. Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
Yahoo
an hour ago
- Yahoo
HOOD vs. IBKR: Which Fintech Broker is Poised for More Growth?
Robinhood Markets HOOD and Interactive Brokers Group IBKR are prominent online brokerage players offering commission-free trading platforms. Robinhood appeals to newer, mobile-first retail investors, while Interactive Brokers serves more advanced traders with its comprehensive the stock markets witnessing massive volatility and client activity, HOOD and IBKR are expected to benefit from increased trading activities. As such, investors are bullish on both. This year, shares of HOOD have soared 65.8%, while Interactive Brokers is up 18.4%. Also, stocks have fared better than the industry, the Zacks Finance sector and the S&P 500 Index in the same time frame. HOOD & IBKR YTD Price Performance Image Source: Zacks Investment Research So, the question arises: which brokerage stock — Robinhood or Interactive Brokers — offers greater upside in the evolving trading market? Let's break down their fundamentals, financial performance, growth prospects and more before taking any decision. Robinhood became extremely popular among younger generations in early 2021, riding on the meme stock wave. Nonetheless, since its IPO in July 2021, a lot has happened on the business front. It has evolved from a brokerage firm primarily trading in digital assets to a more mature and diversified entity, striving to become a one-stop shop for building generational wealth. In this context, HOOD has launched several initiatives to attract more clients and strengthen its market share. Some notable ones are Robinhood Strategies, Robinhood Banking and Robinhood Cortex to boost the wealth management offerings; the prediction markets hub; a credit card and a desktop trading platform. Additionally, Robinhood is expanding via strategic acquisitions, which are helping it foray into new businesses and complement existing ones. On Tuesday, it announced an agreement to buy Canada-based WonderFi Technologies Inc. in a C$250 million all-cash deal, which will help deepen its presence in the Canadian digital asset market. In February 2025, it completed the $300 million acquisition of TradePMR, a custodial and portfolio management platform specializing in services for Registered Investment in July 2024, Robinhood acquired Pluto Capital Inc. With the integration of Pluto's advanced capabilities, the company has revolutionized the investment experience for its users. Further, the impending buyout of Bitstamp (announced in June 2024), a globally recognized cryptocurrency exchange (featuring more than 85 tradable assets and popular in Europe and Asia), will significantly enhance the company's crypto these efforts reflect HOOD's ambition to become a full-spectrum financial services provider. HOOD Sales Estimates Image Source: Zacks Investment Research Interactive Brokers' technological superiority remains one of its strongest aspects. The company processes trades in stocks, futures, options and forex on more than 150 exchanges across several countries and technology usage has kept IBKR's compensation expense relative to net revenues (10.8% in the first quarter of 2025) below its industry peers. Further, the company has been emphasizing developing proprietary software to automate broker-dealer functions, leading to a steady rise in Brokers is expanding globally with a series of strategic moves. Earlier this month, it extended trading hours for Forecast Contracts to nearly 24 hours, after having launched them in Canada. In the U.K., it added mutual funds to its ISA offerings, enhancing tax-efficient investing. IBKR also introduced PEA accounts in France and expanded mobile trading via GlobalTrader. Other innovations include almost 24 hours of Overnight Trading on U.S. stocks and ETFs, crypto trading through Paxos with low fees and the launch of IBKR Desktop, a next-gen trading platform for Windows and Mac, underscoring its focus on advanced, global trading company's technological superiority, combined with easier regulations to improve product velocity, will support its net revenues through higher client acquisitions. Net revenues are also expected to strengthen further in the quarters ahead, given the solid Daily Average Revenue Trades (DARTs) numbers and robust trading backdrop driven by higher market participation. IBKR Sales Estimates Image Source: Zacks Investment Research The Zacks Consensus Estimate for HOOD's 2025 and 2026 earnings indicates an 11.9% and 19.4% rise for 2025 and 2026, respectively. Over the past month, earnings estimates for 2025 have remained unchanged, while for 2026, the same have been revised upward. Earnings Trend Image Source: Zacks Investment Research On the contrary, analysts are less optimistic about IBKR's prospects. The consensus mark for earnings suggests 0.4% and 7% growth for 2025 and 2026, respectively. Earnings estimates for both years have been revised lower over the past 30 days. Earnings Trend Image Source: Zacks Investment Research Hence, on earnings growth prospects, HOOD clearly has an edge over Interactive Brokers. Valuation-wise, HOOD is currently trading at the 12-month forward price-to-earnings (P/E) of 47.17X. The IBKR stock, on the other hand, is currently trading at the 12-month trailing P/TB of 28.86X. Further, both are trading at a premium to the industry average of 13.82X. P/E F12M Image Source: Zacks Investment Research While Robinhood commands a premium over Interactive Brokers, its valuation is justified, given its superior growth trajectory. Additionally, HOOD's return on equity (ROE) of 15.42% is way above IBKR's 4.97%. HOOD also outscores the industry ROE of 11.97%. This reflects Robinhood's efficient use of shareholder funds to generate profits. ROE Image Source: Zacks Investment Research HOOD has undergone a significant transformation since its IPO, evolving from a disruptive trading app into a comprehensive financial services platform. Through strategic acquisitions, it is aggressively expanding its product suite and global reach. It's also investing in advanced tools like Robinhood Cortex and Robinhood Strategies, targeting a broader investor base. These innovations, paired with a robust ROE and accelerating earnings and sales growth estimates through 2026, suggest strong long-term upside the other hand, Interactive Brokers remains a dominant, tech-driven brokerage favored by professional and institutional investors. Its global reach, low-cost model and powerful trading tools continue to support consistent revenue growth. However, while the company's innovation in areas like Forecast Contracts, GlobalTrader and IBKR Desktop is impressive, its earnings outlook is more muted, with only modest growth expected in the next two years. Combined with a lower ROE and downward revisions to earnings estimates, this suggests that while IBKR is a stable, well-run business, it may not match HOOD's upside potential in a growth-focused Robinhood appears to be the better long-term investment for solid returns. At present, Robinhood and Interactive Brokers carry a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Interactive Brokers Group, Inc. (IBKR) : Free Stock Analysis Report Robinhood Markets, Inc. (HOOD) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
