What can Canada do about high diesel prices?
Summary
Host Matt Galloway explores the surge in Canadian diesel prices, driven by the Iran war and Ukrainian attacks on Russian refineries. Energy consultant Richard Masson explains how global supply shortages are impacting farmers and consumers despite Canada’s self-reliance. The episode analyzes proposed political solutions, such as Conservative tax cuts and potential US export bans, while Masson warns that building new refining capacity is unlikely in the short term.
Topics discussed
Sponsored segment: Wayfair holiday shopping
Introduction: Rising diesel prices in Canada
Farmer testimony on harvest fuel costs
Political proposals to ease diesel costs
Interview intro and role of diesel in economy
Impact of Iran war and Strait of Hormuz on supply
Ukraine-Russia conflict and refining capacity
Analysis of potential US diesel export ban
Canada's self-reliance vs global price linkage
Evaluating tax cuts and GST reductions
Feasibility of new refinery construction
Broader economic impacts and government aid
Conclusion and closing remarks
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