comes from canada. and together, as heather mentioned in her opening presentation, this represents about $150 billion in annual energy trade between our two nations. and i think heather also alluded to this, what's not always appreciated is that this relationship is reciprocal. the largest natural oil and gas imports into canada is the united states. our trade routes run north and south, and many parts of the western u.s. are supplied from natural gas from alberta and british columbia while energy consumers in ontario are supplied with gas from pennsylvania. refineries in central canada import light crude from the u.s., and those in the u.s. midwest and gulf coast are set up to receive heavier crude supplied by the alberta oil sound. so this relationship really helps keep energy costs lower for canadians and americans, while really providing a secure and reliable energy network. i would also like to note that this bilateral energy partnership, long standing generational energy partnership has continued

and canada can do that. we have the tools of capital, of energy, so that instead of the energy project being built by the communist party of china, it's built by someone more friendly with us. so there's many other places around the world that i could talk about, but those are a few. i think, overall, the combined strength of north america energy, it should hopefully be clear, at least to people in this room or anyone who is listening. hopefully, i'm trying to get out the message, my hoover paper, kind of an attempt at that. and i've been giving speeches on this. hopefully people are being aware. this is the hardest town to get people aware, strangely enough. hopefully people start seeing that. hopefully people say that america is great at energy. we're the number one entity, our friends in canada are a very important part of how we leverage that. how do we take that forward? thank you. that was really an outstanding presentation. i confess i have not read your hoover paper. i will now. [ laughter ] can you

and canada can do that. it has the tools of capital and energy so instead of the energy project billed by the communist party of china, it's built by someone who is more friendly with us. there's many other places around the world i could talk about, but those are a few. overall the combined strength of north america energy should hopefully be clear to people in this room or anyone listening. hopefully i'm trying to get out the message. my hoover paper was an attempt at that. hopefully people are starting to get aware. this is the hardest town to get people aware. hopefully people start seeing that america is great at energy. we are the number one entity. our friends and canada are a very important part of how we leverage that. and how do we take that forward. lad to take a couple questions. -- glad to take a couple questions. [applause] >> thank you. that was really had outstanding presentation. i confess i have not read your hoover paper. can you talk about how the united states and canada could influence

and canada relationship. if the analysis is anywhere near accurate, we rely on refineries, and it's important to get it right. on the electricity side of the equation we face huge challenges in the united states and i suspect in canada is great to with the ai data center demand explosion and it's funny how these things in washington -- i think people knew it was coming but now everybody is talking about it. very serious, potentially 160% increase in data center demand 2030. you can go up to nine or 10 of demand, i think you have to build 200 natural gas plants or 71 gigawatt nuclear plants to meet the demand and we will never do that with the permanent team and regulatory system we have. that's important because we have to get that right. you need to change the permitting to get more production. we have the resources for canada and the u.s., good for us and the world but policy isn't -- policy is getting in the way and hopefully we can align and get to a good place in the end. >> that brings me to my next que

some will conclude a large reactor, and that is evolving in canada. it has gone from a small reactor discussion to now saying, we are going to need small reactors, but also large ones. and camino, politicians are also very mindful in canada to speak to multitechnology's. yes, there is a can-do bias, but there is also this reality that different technologies are available, so there is an openness to different technologies. we are seeing that across a number of different countries and regions. that there is an openness to different technologies. i think that is a healthy thing. i think that is going to be defined by what the niche markets are in canada, like here. but a lot of the discussions off grid, resource development sectors, for example in alberta, which are looking at industrial heat, or mining sectors, or communities. i recently attended a conference that had to do more about how smr could enable economic growth in the money sector. that is very interesting from a canadian perspective. they are very real discussions. for a lot of ways i think i

canada, specifically, i should say. we are really good at exporting raw commodities, but we could be better at ramping up our innovation play in this. being more efficient, not only in energy production, energy exports, but also just in general and all the mix of energy we have. canada is blessed. we have a really clean grid overall compared to many countries. a good mix of energy. but i think one thing foster is technological innovation. really believe that. i think the previous speaker spoke to how powerful it was for the last decade for the u.s. how powerful it was for the last decade for the u.s. how it changed the game on energy globally. the third point, obviously, we have a few obstacles in our way to achieve this. the first is regulatory. i think in canada when you talk about policy, energy policy, the first thing you hear, especially ceos that i represent, is that it takes too long. the regulatory regime is not agile enough. it is not conceived in the world where we need to move fast. we need a new seriousness

and canada together. i grew up close to canada. frankly, when i grew up i thought of canadians as being in the same country. i thought of them is just like us. so nice, except when it comes to the hockey game. [laughter] to borrow a moniker from the u.k., better together is where we want to be put in i think -- this is where i am out on a limb -- there are no tariffs on oil and gas. but these things get revisited, and i think in 2026 there is a concern there. do thate spur any thoughts or comments? >> i will go first. i generally agree with everything you said. policy development -- my own kind of fear, too, is it's so slow and it's so -- it doesn't reflect the realities that we have today. in many cases you will find people -- maybe there's an international summit, and let's just say in 2015, g7 -- in the meantime energy demand has gone up and no one has stopped to revisit what the goals were often set years previous. i bet as we peel back the onion on this canadian policy that we are talking about, i think we all know that it's n

international security forum in canada. speakers addressed the policies of the incoming trump administration, the war in ukraine and relations with china. >> welcome to canada. for those of you who have been here before, you know that this is the part where i lay out bigger global issues and the threats that we faced together as a community of democracies. and then i talked about how if we all work together, the world will be a safer place. and then i move on to welcomes and thank-yous. this year, i'm just jumping to welcomes and thank-yous. and then if there is a little time, i will say if you -- a few words about the world we all share. minister blair, ministers, members of parliament, members of the congressional delegation, dissing wished officers, ladies and gentlemen -- dissing thing wished officers, ladies and gentlemen, colleagues and friends, on behalf of everyone on my team who work so hard to bring the 16th annual halifax international security forum to life, welcome to halifax. i wanted to begin by introducing t

and canada together, i grew up close to canada. frankly, when i grew up, i never thought of canadians as not being in the same country. i knew that, but i didn't really think that, because they're just like us. they're so nice, except when it comes to the hockey game. so to borrow a moniker from the uk, better together is probably where we want to be. and i think, and this is where i'm really out on a limb if somebody wants to correct, there are no tariffs on oil and gas. but these things get revisited. and i think in 2026. so there is a concern there. does that spur any thoughts or comments? >> i'll go first. i generally agree with everything that you said. policy development, my own kind of theory, too, is it's so slow and it's so -- it doesn't reflect the realities that we have today. so in many cases you'll find people -- maybe there's an international summit and maybe it's -- let's just say it's in 2015, g7, g20 gets together and they say, we're going to do x. well, it takes countries several of years to all of a sudden say we

on all goods from canada. that is a big deal, u.s. and canada exchange 2.7 billion each day. that is a lot. look, we all can agree, and maybe we can't,ir think we can, canada will not be 51. we all know that is not happening and all know that wayne gretzky, despite trump's urging, will not be in charge of canada. this all goes back to the notion of why does trump say these things and put these threats out there? because for the last four years, the united states has been abused on the world stage. donald trump is going out and saying i'm taking canal back, panama. i'm taking canada and making it 51st state. will these things happen? with the canal, i don't know. with canada, we know they are not going to. if we get better terms that protex the american consumer, this is how you negotiate and boggles the mind why joe biden and this administration took a knee to every other country in the world during his administration. some call it globalization, some call it stupidity. >> katie: you say 51 pvt state is not ha

i said wayne, why don't you run for prime minister of canada soon to be known as the governor of canadaeasily, you wouldn't have to campaign, he had no interest. i think the people of canada should start a draft wayne gretsky movement. it would be so fun to watch. [ clapping ]. >> joe: as the biggest hockey fan her, since wayne gretsky is not interested could you tri with mario lemieux. >> i think it's funny it was posted yesterday, as in christmas day. where were ya. sit sit there like this needs to be said. donald trump has a lot of fun trawling justin trudeau, who is unpopular. wayne gretsky said he had no desire. i think he could win without campaigning, that is true. but, i think a lot of people could. it's - canada is done with it. there's a lot of popular canadians. alana morisset. an-murray. >> maple syrup. >> joe: that's not a person. merging with canada, it would strengthen the american zamboni industry. >> i really love canadians, they are some of my favorite people consistently, yes, when i neat - in the wrestling business there's a lot of canadians, i got know a lot of cana

it's not just canada. the president-elect talked with leaders with more than 100 countries before taking office. mike lawlor is standing by. first to matt finn from west palm beach florida. hi, matt. >> hi, rich. top canadian cabinet members are scheduled to meet with president-elect truck and his incoming border tsar. president-elect trump posted a message on truth social that we may be seeing bill gates at mar-a-lago. canadian prime minister justin trudeau made a visit to mar-a-lago. president-elect trump is egging on trudeau that canada should become our 51st state and trudeau should be canada's governor. president-elect trump has threatened to impose sweeping tariffs against canada to the tune of 25% on canadian goods. trudeau has told trump those tariffs would crush their country. in west palm canada's finance minister dominic leblanc and foreign minister melanie joly are scheduled to hold talks with president-elect trumps. trump's border tsar tells fox that canada is ready to go on immigration enforc

joining me now is katie simpson eighth correspondent with canada. it's great to meet you.e what do folks think he means? >> is widely seen as an insult but canada is used to this rhetoric from donald trump and what we see from the political side in ottawa is the urge not to overreact and right now the relationship is in a very difficult position and an explosive position because there is this threat of the tariff. if he makes good on it it will significantly harm the canadian economy and cost thousands of jobs. trade is one of the most important aspects of the canadian economy and if that comes to fruition or if it happens it would be devastating for the canadian economy. the strategy coming from government right now in a lot of turmoil is trying to remain united and present a united trump front and ignore any of these tactics and focus on the prize, which for canada in this moment is avoiding those tariffs. >> is it seen as an extortion attempt to get something from canada in exchange for not doing them? >> we understand that after the canadian delegation left the dinner

canada, when we were growing up canada was great because you could turn 18 ago across the border andymore. it's not as fun for us western new yorkers as it was when we were kids growing up. however i think canada, listen, it's never going to happen. they will never become part of the united states. if anything all this does is may be make the economy bigger. i think kevin o'leary is right about that, he's seeing this in a league business way, look at all the economic impact. but it's never going to happen and i will say this though about canada, to their credit they have the better side of niagara falls. >> kat: teenagers can't drink anymore in canada? >> if you go over with the united states license they won't serve you anymore. >> kat: we would go to windsor and you'd said one person to check into the hotel not knowing that seven teenagers -- >> you understand what it's like to grow up near canada. >> kat: absolutely. officer. >> great quality for a country. the only place you can drink underage. >> when you grow up in western new york, it's a park. >> kat: the city of windsor is b

and also a more of a, a canada 1st approach if you will. so you'll go head to head with donald trump in in that way, but they may be, have of more of a natural alliance then perhaps adjusting trio and donald trump. well, actually just to, to, to finish lucy, support for justin for it though, has been plummeting. and could christy a freeland, be a potential arrival for it? crudo going forward? yeah, well, so she, she is, she has resigned from cabinet, but she has not resigned her seat. and she said that she is going to run again, which may set up her eventual launch into a run for the, for the liberal leader. so you, you might, i'm not sure rival is the right word because it's widely expected that after the next election, justin trim gold, we'll step down as liberal leader and certainly is expected to lose. and so he would step as prime minister as well the canadian public would ensure that. and so it is expected that she may run to replace him. but again, mark karney, who uh, who, who is that has, has all kinds of credibility when it comes

we are paying canada and we love canada, i have so many friends, i love canada. why are we spending $150 billion on canada? canada allows people and drugs to flood into our northern border. >> jessica: so i caught your face as i was talking. it wasn't just because i called kevin o'leary ken. what do you think of this merger idea, tyrus? >> tyrus: i think both of his watches are broken. there is no 50% canadians willing to give up canada. that is their country. that would be like 50% of americans, oh, yakima we want to join -- it almost owns like a promotional stunt for a team tv show. i think the canadian government is paying attention because president trump is trolling them and having a good time with it and maybe mr. wonderful a string to get in on it but 50% -- i would love to see the poll. it goes back to what this administration is trying to do. it is not a laughing matter. president trump is putting his foot down and using tariffs to get them to come to the table. i think there is a huge conservative presence in canada and we haven't seen it for a long tim

let me just talk a little bit about canada. people again may be they do not pay enough attention to canada. a big country yes but also a small in the international level and in fact it is not. more and more i want to involve canada because in the past two or three years that is where the most young thai runaway to. right. incredible. this is a thing that i talked about this morning. i am so grateful to the canadian government that they have implemented very friendly refugee policy is. every single person who i know when i -- when they decided to run away from thailand and eventually managed to run away and it up in vancouver. that is why the number of young thai runaways growing up so rapidly or whatever what happened every year. i went two months ago and it was so amazing. 100 people turning up to my talk. i am not saying all of them refugees, but among them a large number were refugees. that is why i think my stop in canada was meaningful. and toronto is a much bigger city. i did that without much expectation. a hundred peopl

now the canadian premier of alberta canada she tells fox that she wants americans to know canada wouldnership that we've had since 1993. there's always going to be trade tensions, but i would say that if we could work on that relationship, and also work on some of the border issues, how many americans know that we really do want to be a partner in addressing not only our cross-border security issues, but also more internationally, the threat of china, the threat of russia, being able to help our allies. >> so you heard it right there from that canadian premier. today also trudeau and these officials indicating there's a lot of momentum right now between canada and the united states and a lot of people from the canadian side are simply saying they want to be a stronger allie with the united states. back to you. >> matt, i appreciate it. looks like he's getting movement already, not even taking the oath of office appreciate it. so joining us now for reaction, the washington editor amber duke. so, would tariffs on canada, how would they, would they crush the economy i guess, like trudeau

and with $150 billion on canada.low people in drugs to flow for the northern border. >> i caught your face as i was talking not just because i called kevin o'leary kim what you think about that idea greek. >> both of his watches have to be broken there is no 50% of canadians wanting to give up canada that's their country that would be like 50% of americans being like we want to join the other side it sounds like aa te promotional stunt for a tv show. i thinowk the canadian governmet is paying attention becausebe trump is putting tariffs onvi trolling them anngd having a god time with it and maybe mr. wonderful trying to get one it butth 50% i'd love to see the poll wherever it is a goes backt to what the administration isra trying to do is not a laughing matter president trump is trying to put his foot down and getting tariffs is a front to get to the table there is a huge presidents in canada we haven't seen it foc a while. canada became a country to play along with this game or whatever they are one of the most lib

as the governor of canada? you would win easily. you wouldn't even have to campaign. he had no interest. but i think the people of canada should start a draft wayne gretzky movement. it would be so fun to watch. cat as as the biggest hockey fan here since gretzky is not interested. should he try with mario lemieux? >> i think it's really funny that this was posted yesterday, as in christmas day. like, where were you sitting there like, this needs to be said. i mean, obviously trump's having a lot of fun trolling with, you know, justin trudeau, who is who is so unpopular. and i think but i think he also is right. wayne gretzky said he has no desire to run. i think he could he could win without doing any campaign. i think that is also very, very true. but i think a lot of people could i mean, it's canada's done with it. >> i mean, yeah, there's lots of popular canadians. alanis morissette. >> oh, yes. >> anne murray. >> oh, that one guy, tim maple sirup maple. >> that's not a person. >> charlie. merging with cana

notable canadian businessman kevin o'leary tells fox that if canada and the u.s.ld better synergize their resources and economy they could become a greater power against our adversaries. >> 41 million canadians, basically the population of california, sitting on the world's largest amounts of all resources including most important, energy, and water. canadians over the holidays the last two days have been talking about this. they want to hear more. and so, you know, there is obviously a lot of issues and more details but what this could be is the beginning of an economic union. think about the power of combining the two economies. >> and the united states actually gets a ton of its crude oil and electricity from canada, so these are really important trade talks. anita? >> anita: matt finn live in west palm beach, otherwise known as the center of the universe right now. matt, thank you so much for that live report. bill? >> bill: anita, the illegal immigrant accused of killing a woman by setting her on fire intentionally in a new york city subway is formally indict

and canada. pippa is at a uranium mine in canada. >>> inflation met expectations.es that clear the way for another rate cut next week? let's discuss that with the managing director and portfolio manager at clearbridge investments. michael, what do you see? inflation numbers were as expected. any impediments to the fed cutting rates next week? what do you expect for 2025 in terms of interest rates? >> i think the markets are saying today that obviously this sets the stage for the fed to cut next week and i think the markets are cheering that. i think longerterm, it's clear that while inflation is nowhere near as bad as a couple years ago, it's stickier than we would liked or hoped. as we head into 2025, you can still see more rate cuts. the outlook is not as strong as it was a few months ago. i think we think that inflation and rates are likely to be higher for longer than we were thinking. >> we came into this year with lots of people predicting six, seven rate cuts. what have we had? two. we may get a third in -- next week. that's a far cry from six or seven. next

canada says it will increase its military and diplomatic presence in the arctic.ent released friday the country said it plans to deploy naval destroyers, summaries, aircraft and drones the arctic to counter what it considers threats from russia. the canadian government says it will seek deeper collaboration with nordic nations five. of which are nato members. i spoke about these issues with the canadian foreign minister a little earlier. i began by asking her about the nato foreign ministers meeting. >> what we talked about is how much we need to continue to support ukraine and how much also ukrainians need to be part of any form of discussion regarding their future. it is canada's position ukraine should become part of nato. they should receive an invitation. and we think it is in the best interest of ukrainians, of europe and also on this side of the ocean which is north america. it would make the north american and european partnership much stronger. that is our position. we are also supportive of the recent biden administration decision regarding the use of lo

we import 60% of oil from canada, 85% of electricity from canada.t we import from other countries, 85% from canada, 60% on crude. it is interesting. justin trudea, he is in trouble in canada, i'm sure you have seen this. he is polling horribly, conservatives are coming out strong in the polls against trudea. one of his top leaders resigned and many are saying he should resign, he does not have support anymore. trudea is politically weak, we'll see how the discussions go today. >> ashley: i can't imagine too many americans would support him either. correct me if i'm wrong, that does not seem like a good idea. >> cheryl: trudea has hads better days to say the least. what is interesting, if you look at the borders, whether fentanyl coming in or illegal migrants crossing the border, bigger issue is southern border not the northern border. real trick is not what canadians are going to do, it is what the mexican government is going to do. canadians are taking this ser seriously. >> todd: trump is takings it seriously, proposing wayne gretzky as new leader

will canada step in? will canada play a bigger role? canada is an important country, as you said. when you have free time from diplomatic victories at the united nations -- [ laughter ] >> no. i think also i believe in diplomacy, but i fundamentally believe in defense, and i fundamentally believe that canada needs to increase its defense spending. and i've been working with the minister here to make sure that's the case, because actually there's no peace without deterrents. i also think we're part of nato. we need to be stronger in terms of creating this new arctic security dialogue with the arctic seven, because we have the arctic council that is not working. and basically we should not be working with russia. so it should be the seven of us which are now part of nato. the nordic five -- we need to make sure we create that. basically nato and norad are not seen as different, but they should work together. finally, what i think also is there's no security infrastructure for the indo-pacific. there is the camp david accord which was historic, which was great. canada, we want to do

anyways, moving along canada.n we were growing up, canada was great because you could turn 18 and go across the border and drink. yes, not how it is anymore. so it's not as fun for us western new yorkers as it was when we were kids and growing up. however, i think canada. listen, it's never going to happen. they're never going to become part of the united states. if anything, all this does is maybe make the economy bigger. i think kevin o'leary is right about that. he's thinking this in a purely business way of being like, look at all this economic impact, but it's never going to happen. and i will say this though, about canada. to their credit, they have the better side of niagara falls than the united states. >> wait, teens can't drink anymore in canada. >> if you come over with a united states license, they won't serve you anymore. >> you used to do that too. we'd go to windsor and you'd send one person in to check in the hotel rooms. they wouldn't know that seven teenagers were going to see. >> see, you unders

this was a mistake that has deeply embarrassed parliament and canada. all of us who are in this house on friday regret, deeply having stood and clapped, even though we did so unaware of the context. i also want to reiterate how deeply, sorry, canada is for the situation. this put presidents zalinski and the ukranian delegation . and it is extremely troubling to think that this egregious error is being politicized by russia and its supporters to provide false propaganda about what ukraine is fighting for. yeah, if you called true to clueless about history and honoring nazis, 10 to 10 wins, but then it emerged that curios office had actually also invited hook up to a totally separate dinner with zalinski. instead of admitting that he, in his office personally invited a nazi to an official prime ministerial reception with the ukrainian president, he has lied for months to the canadian people and has blamed everyone but himself. kinda took a cross check to the face for a whole whole bunch of countries after that whole fiasco. any kind of distortion in, in,

watch list came from our northern border, from canada.he entire world, so president trump has essentially been saying over and over again that they have a very loose border up there and because of that we are seeing crime in the united states and in fact up until recently canada did it require a visa to enter the country, so it was even being promoted on social media for illegal immigrants down in mexico or wherever to go to canada, gain access, they didn't need a visa, then come down to the united states, hence why we continue to see the biggest problems that we have in the united states, canada. okay, greenland. i have to assume it has something to do with russia and gaining control over the arctic circle, and also a big international security. okay, i can see what he is saying there. and then panama. that one is a little bit easy. 2017 panama decided to cut diplomatic ties with taiwan, showing their allegiance to china. china uses panama canal second just to the united states, so this is all where we stand on the international stage, a

of canada. admitted prime minister of canada is probably a better title. the whole table erupting if laughter at the idea. the point was made clear to trudeau. trump expects change before he gets into office on january 20th. trump wasn't just hammering home that trudeau needs to tighten up the northern border but the trade deficit between the two countries needs to be addressed right away. if trudeau doesn't fix that there will be a 25% tariff on all canadian goods and canada would have a lot to lose. they export 77% of their goods to the u.s. a 25% tariff could cost the canadian economy a whopping $110 billion. the canadian ambassador to the u.s. also at this dinner said that trudeau wanted to make the point to trump about the border that canada's border is not comparable to mexico's border. for example, 99% of all fentanyl seizures come through mexico, not canada. less than 1% of all illegal border crossers that are captured are coming from mexico, not canada. they say they were able to make t

this was a mistake that has deeply embarrassed parliament and canada. all of us who are in this house on friday regret, deeply having stood and clapped, even though we did so unaware of the context. i also want to reiterate how deeply, sorry, canada is for the situation. this put presidents zalinski and the ukranian delegation, and it is extremely troubling to think that this egregious error is being politicized by russia and its supporters to provide false propaganda about what ukraine is. fighting for canada took a crash cheque to the face for a whole bunch of countries after that whole fiasco. any kind of distortion in, in, in that area is deeply hurtful. this gentleman, that was the mountain. sorry. the gentleman does it wrong. where this person, the notes haven't been present, had been present in, in, in the parliament. sure. there are other b or, you know, in the face persecution we of course, stand against any uh, honoring of uh, of people who actively took part of the nazi activities during the 2nd world war. no, you still use mind if he, the sp