Latest news with #superpower
E&E News
a day ago
- Business
- E&E News
Q&A: Canadian Energy Minister Tim Hodgson
OTTAWA — Canadian Prime Minister Mark Carney enlisted his former Goldman Sachs colleague, Tim Hodgson, to fight an 'economic war' with the United States. Hodgson, a 64-year-old rookie politician but a seasoned C-suiter, is staring down a hefty to-do list as Canada's new minister of energy and natural resources. Carney and Hodgson have pledged to transform Canada into an 'energy superpower' that depends less on American customers. That means balancing the demands of an oil-patch hungry for new customers and growing renewable energy sectors. Advertisement As he got his feet wet in the political arena, Hodgson found inspiration in the most Canadian of ways: a stressful hockey game.
CTV News
3 days ago
- Business
- CTV News
Quebec, Newfoundland energy touts Canadian independence to Trump: Hydro‑Québec CEO
Chief executive of Hydro‑Québec Michael Sabia and Jennifer Williams, head of Newfoundland and Labrador Hydro are seen at an energy conference in St. John's, N.L. on Tuesday, June 3, 2025. THE CANADIAN PRESS/Sarah Smellie ST. JOHN'S — The chief executive of Hydro‑Québec says a sweeping new energy deal with Newfoundland and Labrador Hydro is a signal to the United States that Canada can get 'big things done.' Michael Sabia was in St. John's, N.L., Tuesday, where he pitched the draft deal as a turning point in Quebec's relationship with Newfoundland and Labrador, and a step toward Canada becoming an 'energy superpower.' 'Let's be clear: Canada is under threat,' Sabia told a room full of representatives from Newfoundland and Labrador's energy industry. 'This is a time of real economic and political uncertainty. It's a time when Canadians need to work together to build the future,' he said. 'Ultimately, that's what this deal is about. It's about building now to secure Canada's energy future.' Sabia was speaking to the crowd at a conference held by Energy N.L., Newfoundland and Labrador's energy industry association. He was joined on stage by Jennifer Williams, president and chief executive of Newfoundland and Labrador Hydro. The two discussed an agreement in principle announced last year that would end a contract signed in 1969 that allows Hydro‑Québec to buy the lion's share of the energy from the Churchill Falls hydroelectric plant at prices far below market value. The contract has long been a source of bitterness in Canada's easternmost province. The new arrangement would end the contentious deal 16 years early and see Hydro‑Québec pay for more power while developing new projects with Newfoundland and Labrador Hydro along the Churchill River. Newfoundland and Labrador would also get more power from Churchill Falls. The memorandum of understanding has its critics. The Opposition Progressive Conservatives have been uneasy with the draft deal, demanding the Liberal government have it independently reviewed. The party also called for a halt to ongoing negotiations of final contracts, saying a proposed national energy corridor could bring better opportunities. Some in Newfoundland and Labrador have also wondered if Hydro‑Québec can be trusted and whether the province will truly get enough value for its resources. 'Show me a deal where there hasn't ever been skeptics,' Williams challenged when asked about those who have criticisms. Sabia addressed the tangled history of the provinces several times, and said repeatedly that the new arrangement was 'balanced' and served the needs of both Newfoundland and Labrador and Quebec. Both sides made concessions, he said, adding that the deal contained items neither side wanted. He refused to elaborate on what those were. Sabia said the agreement is the 'single most important signal we can send to the United States right now,' as long as it goes ahead as planned. Williams agreed the proposed projects need to proceed smoothly and quickly, repeating 'rigour and speed are not incompatible.' Both said they were heartened by signs from Prime Minister Mark Carney that he would speed up project approvals. Williams touted the deal's promised economic benefits, which includes $17 billion in revenue to the provincial treasury by 2041. Newfoundland and Labrador expects to be carrying a net debt of $19.4 billion by the end of the current fiscal year. 'We have to take this opportunity now,' Williams told reporters after the event. 'If we don't, something this momentous may not come again for a very long time, and who will we have to blame? We have got to take this moment on.' Officials hope to have final agreements hammered out next year. In the meantime, preliminary topographic and soil studies are expected to begin in Labrador this summer, Sabia said. This report by The Canadian Press was first published June 3, 2025. The Canadian Press
Yahoo
5 days ago
- Business
- Yahoo
Newsroom Ready: Carney meets with energy sector
Prime Minister Mark Carney met with oil and gas executives in Calgary to get their input for his plans to make Canada an energy superpower. Carney, in his first visit to Calgary since being sworn in as prime minister, sat down for a closed door roundtable with several representatives of the energy sector. (June 1, 2025)
Yahoo
5 days ago
- Business
- Yahoo
Carney meets with energy sector
Prime Minister Mark Carney met with oil and gas executives in Calgary to get their input for his plans to make Canada an energy superpower. Carney, in his first visit to Calgary since being sworn in as prime minister, sat down for a closed door roundtable with several representatives of the energy sector. (June 1, 2025)
Free Malaysia Today
30-05-2025
- Business
- Free Malaysia Today
Inward US policies will make China No 1, says Dr M
Former prime minister Dr Mahathir Mohamad says President Donald Trump has alienated the US from the rest of the world through his 'reciprocal' tariffs. PETALING JAYA : Former prime minister Dr Mahathir Mohamad has warned that the US's inward-looking approach under President Donald Trump will only hasten China's rise as the world's leading superpower. Mahathir said China's deep-rooted civilisation and staying power make it well-positioned to overtake the US, even if Trump 'resents the idea that China might challenge' American dominance, Nikkei Asia reported. 'I don't think China is going to be easily defeated by the US. I don't think the US will recover and become No 1 again. 'It looks like China is going to be the No 1 country in the world,' he was quoted as saying at the annual Future of Asia conference in Tokyo. He said Trump had alienated the US from the rest of the world by making 'the whole world the enemy' through the imposition of 'reciprocal' tariffs that ultimately hurt American consumers more than others. 'I give Trump three months before he will have to do away with the tariffs,' he said, adding that the world's largest economy relies heavily on imports, especially microchips. Trump introduced the controversial tariff package on April 3, imposing a 10% baseline levy on most trading partners and steeper duties on dozens of countries and blocs, including the EU, UK, Canada, Mexico, and China. Global markets were rattled by the move, prompting the White House to later roll back or delay some of the new measures. A long-time critic of Western policies, Mahathir also accused Washington of fuelling tensions in the Taiwan Strait to justify arms sales to Taipei. He argued that friction between China and Taiwan is 'good for America' because Taiwan buys weapons from the US to arm itself, and has shown readiness to purchase more as part of the ongoing tariff negotiations. 'If there is no tension, (the US) will not be able to sell the sophisticated weapons that it has developed,' the 99-year-old said. 'I feel that if America had not provoked China, the situation (in Taiwan) would have remained as it was.' Mahathir also dismissed the idea that India could rival China's global posture, citing the country's ethnic and religious diversity, and its inability to function under a single dominant government. India is a country with many ethnicities and religions, he said, adding that for India to behave like China 'is not possible because India cannot have a singular government that rules the whole of India with no one challenging its position.'
