1 00:00:02,520 --> 00:00:07,000 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. 2 00:00:07,360 --> 00:00:11,320 Speaker 2: Jonathan Wilkinson, Minister of Energy and Natural Resources of Canada, 3 00:00:11,400 --> 00:00:15,920 Speaker 2: says he's concerned about steel tariff's impact and the consequences 4 00:00:15,960 --> 00:00:19,200 Speaker 2: to the economy. He speaks with Bloomberg's Alex Steele at 5 00:00:19,239 --> 00:00:20,680 Speaker 2: Sarah Week in Houston. 6 00:00:21,520 --> 00:00:25,000 Speaker 3: Fifty tariffs on aluminum and steel coming from Canada to 7 00:00:25,040 --> 00:00:25,840 Speaker 3: the United States. 8 00:00:25,880 --> 00:00:28,960 Speaker 1: What is your response, Well, I mean, first of all, 9 00:00:29,000 --> 00:00:31,600 Speaker 1: I think this tariff conversation is really unfortunate. 10 00:00:32,080 --> 00:00:32,760 Speaker 4: You know, we've been. 11 00:00:32,680 --> 00:00:38,040 Speaker 1: Long partners, friends' allies, and our economic relationship has benefited 12 00:00:38,080 --> 00:00:40,720 Speaker 1: both parties. So these tariffs are actually going to create 13 00:00:40,760 --> 00:00:42,880 Speaker 1: pain on both sides of the border. I would say 14 00:00:42,920 --> 00:00:46,360 Speaker 1: for Americans, we're already seeing domestic steel prices go up 15 00:00:46,400 --> 00:00:49,680 Speaker 1: significantly as a result, and the United States only produces 16 00:00:49,720 --> 00:00:53,400 Speaker 1: twenty percent of the aluminum consumes, so you're tariffing things 17 00:00:53,400 --> 00:00:54,240 Speaker 1: that you're going. 18 00:00:54,040 --> 00:00:55,880 Speaker 4: To have to import at a higher price. 19 00:00:56,320 --> 00:00:59,640 Speaker 1: So, to be honest with you, the economics around this 20 00:00:59,680 --> 00:01:02,160 Speaker 1: are that for both parties, and I think we got 21 00:01:02,200 --> 00:01:04,400 Speaker 1: to get back to having a better conversation about how 22 00:01:04,400 --> 00:01:05,039 Speaker 1: we work together. 23 00:01:05,440 --> 00:01:10,000 Speaker 3: This is in response to Ontario charging electric tariffs to 24 00:01:10,240 --> 00:01:13,200 Speaker 3: basically the Northeast in some parts of the Midwest. Do 25 00:01:13,240 --> 00:01:16,480 Speaker 3: you support that decision that they made, Well. 26 00:01:16,360 --> 00:01:18,320 Speaker 4: I mean the United States and Canada. 27 00:01:18,400 --> 00:01:20,760 Speaker 1: We are a federation, so we have state level and 28 00:01:20,840 --> 00:01:26,720 Speaker 1: we have federal actors. We responded to President Trump's decision 29 00:01:26,800 --> 00:01:30,120 Speaker 1: to move forward with tariffs with a very select group 30 00:01:30,160 --> 00:01:33,920 Speaker 1: of products that we were actually looking to retaliate, and 31 00:01:34,000 --> 00:01:36,840 Speaker 1: those were largely products that there are American firms that 32 00:01:36,920 --> 00:01:40,199 Speaker 1: sell those products in Canada for which there are reasonable alternatives. 33 00:01:40,520 --> 00:01:43,039 Speaker 1: We had not moved down the path of energy or 34 00:01:43,120 --> 00:01:45,400 Speaker 1: critical minerals or any of those things, although we've said 35 00:01:45,440 --> 00:01:47,720 Speaker 1: those tools are on the table, down the road if 36 00:01:47,760 --> 00:01:50,320 Speaker 1: we can't find a pathway out. Premier Ford is in 37 00:01:50,440 --> 00:01:53,480 Speaker 1: working in his own area of jurisdiction. He's been pretty 38 00:01:53,520 --> 00:01:57,400 Speaker 1: forthright in terms of feeling pretty aggrieved about the imposition 39 00:01:57,440 --> 00:02:01,160 Speaker 1: of tariffs, and I would say that he is acting 40 00:02:01,400 --> 00:02:04,440 Speaker 1: within his sphere of authority. I think we all are 41 00:02:04,480 --> 00:02:07,120 Speaker 1: desirous of not escalating this and finding ways to move 42 00:02:07,160 --> 00:02:07,720 Speaker 1: away from this. 43 00:02:07,880 --> 00:02:11,440 Speaker 3: So if I read between the politician lines, it feels like, no, 44 00:02:11,560 --> 00:02:13,799 Speaker 3: you didn't like the escalation, but there's nothing you can 45 00:02:13,800 --> 00:02:16,440 Speaker 3: actually do about it. What does that conversation evolve to 46 00:02:16,480 --> 00:02:17,640 Speaker 3: be well. 47 00:02:17,480 --> 00:02:21,080 Speaker 1: I'm not sure i'd say exactly that I understand Premier 48 00:02:21,160 --> 00:02:23,519 Speaker 1: Ford's frustration. I mean, to be honest with you, all 49 00:02:23,600 --> 00:02:27,760 Speaker 1: Canadians are feeling pretty shocked that Canada is being treated 50 00:02:28,200 --> 00:02:30,840 Speaker 1: in a manner that is actually worse than China. I'm 51 00:02:30,880 --> 00:02:34,079 Speaker 1: sure exactly how Canada got into that position with a 52 00:02:34,120 --> 00:02:37,920 Speaker 1: country that you know has always been a friend. So 53 00:02:38,160 --> 00:02:41,120 Speaker 1: I think you know, President Ford from Premier Ford and 54 00:02:41,200 --> 00:02:44,400 Speaker 1: others are responding in a manner that shows their frustration. 55 00:02:44,840 --> 00:02:47,799 Speaker 1: I think Premier Ford has been an enormously important actor 56 00:02:47,880 --> 00:02:49,160 Speaker 1: and a constructive. 57 00:02:48,680 --> 00:02:49,400 Speaker 4: One for Canada. 58 00:02:49,440 --> 00:02:52,720 Speaker 1: And so all I'm saying is different different provinces can 59 00:02:52,720 --> 00:02:55,079 Speaker 1: take different steps, and you've seen that even with liquors, 60 00:02:55,120 --> 00:02:57,720 Speaker 1: there are some provinces that have banned American liquor and 61 00:02:57,760 --> 00:02:58,560 Speaker 1: some that actually have. 62 00:02:58,560 --> 00:03:00,560 Speaker 3: Not, and that will continue. The province will still have 63 00:03:00,600 --> 00:03:02,960 Speaker 3: that authority to be able to implement. How do we 64 00:03:03,000 --> 00:03:04,000 Speaker 3: calm this down right now? 65 00:03:05,280 --> 00:03:08,320 Speaker 1: Well, I think we need to try to find ways 66 00:03:08,320 --> 00:03:10,280 Speaker 1: to get back to a conversation about how we create 67 00:03:10,440 --> 00:03:13,440 Speaker 1: more benefit by working together. So I've been pitching this 68 00:03:13,560 --> 00:03:17,040 Speaker 1: concept of a critical Minerals Alliance, which is really about 69 00:03:17,040 --> 00:03:20,400 Speaker 1: a number of very specific projects that would allow us 70 00:03:20,440 --> 00:03:22,440 Speaker 1: to help the United States with some of the needs 71 00:03:22,440 --> 00:03:26,639 Speaker 1: it has, reduce dependence on China, China is our common adversary, 72 00:03:27,400 --> 00:03:28,959 Speaker 1: but would do so in a manner that actually would 73 00:03:28,960 --> 00:03:30,280 Speaker 1: create economic benefit. 74 00:03:29,919 --> 00:03:30,840 Speaker 4: On both sides of the border. 75 00:03:30,880 --> 00:03:32,640 Speaker 1: As a bit of an off ramp away from this 76 00:03:32,680 --> 00:03:35,640 Speaker 1: conversation about tariffs, I continue to pitch that I met 77 00:03:35,680 --> 00:03:38,840 Speaker 1: with Secretary right this morning and we had the conversation 78 00:03:38,880 --> 00:03:39,280 Speaker 1: about that. 79 00:03:39,600 --> 00:03:40,680 Speaker 3: Is he recepted do you listen? 80 00:03:41,080 --> 00:03:41,720 Speaker 4: Well? He listened. 81 00:03:41,760 --> 00:03:43,560 Speaker 1: He's a very smart guy. I mean, and he's actually 82 00:03:43,600 --> 00:03:45,240 Speaker 1: somebody who knows Canada well. He used to run a 83 00:03:45,240 --> 00:03:48,200 Speaker 1: company that had operations in Canada. I think we're all 84 00:03:48,240 --> 00:03:51,920 Speaker 1: desirous of finding a pathway back to a more constructive 85 00:03:51,920 --> 00:03:53,800 Speaker 1: conversation because at the end of the day, this is 86 00:03:53,800 --> 00:03:54,240 Speaker 1: going to. 87 00:03:54,200 --> 00:03:55,440 Speaker 4: Be lose lose. 88 00:03:56,360 --> 00:03:58,240 Speaker 3: Is there a dollar? How far are you along in 89 00:03:58,280 --> 00:03:59,720 Speaker 3: those conversations about a critical. 90 00:03:59,520 --> 00:04:03,600 Speaker 1: Minerals to do? Yeah, I mean, what we're talking about 91 00:04:03,640 --> 00:04:06,400 Speaker 1: isn't a broad based critical minerals package. It's basically a 92 00:04:06,480 --> 00:04:08,960 Speaker 1: number of very discrete projects that we could execute on 93 00:04:09,000 --> 00:04:11,240 Speaker 1: in the relatively short term that would create benefit. 94 00:04:11,520 --> 00:04:13,520 Speaker 4: And so you know, those are the kinds. 95 00:04:13,240 --> 00:04:16,440 Speaker 1: Of projects that actually could come to fruition quite quickly. 96 00:04:16,520 --> 00:04:19,159 Speaker 1: But in order to do that, we need to actually 97 00:04:19,560 --> 00:04:22,080 Speaker 1: stop with the tariff conversation and start with the more 98 00:04:22,080 --> 00:04:23,080 Speaker 1: constructive conversation. 99 00:04:23,440 --> 00:04:25,039 Speaker 3: Do you have a dollar amount of what that might 100 00:04:25,520 --> 00:04:25,919 Speaker 3: look like. 101 00:04:26,760 --> 00:04:28,240 Speaker 1: I don't have a dollar amount, but let me give 102 00:04:28,240 --> 00:04:32,840 Speaker 1: you a couple of examples. So in British Columbia, there 103 00:04:32,920 --> 00:04:36,400 Speaker 1: is a resource company that actually provides germanium to the 104 00:04:36,480 --> 00:04:37,160 Speaker 1: United States. 105 00:04:37,360 --> 00:04:41,400 Speaker 4: It actually uses product from a mine in Alaska, it processes. 106 00:04:40,880 --> 00:04:43,640 Speaker 1: It in British Columbia, and it provides the United States. 107 00:04:43,839 --> 00:04:45,800 Speaker 1: There is an investment that could be made in that 108 00:04:45,800 --> 00:04:48,200 Speaker 1: facility to massively expand the amount to be able to 109 00:04:48,240 --> 00:04:51,360 Speaker 1: actually supply the entire American market. It's probably a couple 110 00:04:51,400 --> 00:04:54,080 Speaker 1: hundred million dollars, maybe a little bit more. It's not 111 00:04:54,120 --> 00:04:57,360 Speaker 1: a huge number. Or in the nuclear space, we could 112 00:04:57,360 --> 00:04:59,719 Speaker 1: actually help you displace all of the uranium you get 113 00:04:59,760 --> 00:05:03,279 Speaker 1: from Russia, including enriched uranium, and that actually would acquire 114 00:05:03,360 --> 00:05:06,000 Speaker 1: us some investment in conversion and enrichment facilities in the 115 00:05:06,080 --> 00:05:09,800 Speaker 1: United States. But those are the kinds of things We're 116 00:05:09,800 --> 00:05:12,160 Speaker 1: not talking billions and billions of dollars and we are 117 00:05:12,200 --> 00:05:15,000 Speaker 1: talking about greatly enhancing energy security and. 118 00:05:14,960 --> 00:05:16,760 Speaker 3: You need to see the tariffs totally come off for 119 00:05:16,760 --> 00:05:18,000 Speaker 3: those conversations to get real. 120 00:05:18,680 --> 00:05:21,120 Speaker 1: I think real are Yeah, I mean, I think at 121 00:05:21,160 --> 00:05:23,080 Speaker 1: the end of the day, we need to see the 122 00:05:23,120 --> 00:05:25,640 Speaker 1: tariffs come off in order to have a more constructive conversation. 123 00:05:25,880 --> 00:05:28,520 Speaker 3: On the flip side, you could see tariffs on lumber 124 00:05:28,560 --> 00:05:31,040 Speaker 3: and dairy also coming down the pipeline, and what's your 125 00:05:31,040 --> 00:05:31,479 Speaker 3: plan for that? 126 00:05:32,880 --> 00:05:35,359 Speaker 1: Well, I mean, look, we're already dark tariffs on lumber, 127 00:05:35,720 --> 00:05:36,560 Speaker 1: on software lumber. 128 00:05:36,600 --> 00:05:37,560 Speaker 4: They've been in place now for a. 129 00:05:37,600 --> 00:05:41,920 Speaker 1: Number of years and that's obviously had some impacts and 130 00:05:42,480 --> 00:05:45,600 Speaker 1: the United States has actually not been successful when it's 131 00:05:45,600 --> 00:05:49,000 Speaker 1: actually gone to an arbitration. But you know that will 132 00:05:49,040 --> 00:05:52,000 Speaker 1: just make the challenges for the FORRCE sector worse. In 133 00:05:52,080 --> 00:05:55,360 Speaker 1: terms of dairy, we Canada exports all virtually nothing into 134 00:05:55,360 --> 00:05:58,359 Speaker 1: the United States, so tariffs on dairy are unlikely to 135 00:05:58,360 --> 00:06:00,200 Speaker 1: be very impactful for the cannon conty is a. 136 00:06:00,200 --> 00:06:02,080 Speaker 3: Tip for tat something that we think continues. 137 00:06:02,640 --> 00:06:05,360 Speaker 1: Well, I am very desirous of ensuring a doesn't because 138 00:06:05,360 --> 00:06:08,000 Speaker 1: we don't want this to escalate. We don't want to 139 00:06:08,000 --> 00:06:10,040 Speaker 1: get into a situation where we're just hurting each other 140 00:06:10,120 --> 00:06:12,560 Speaker 1: more and more and more. But I would tell you 141 00:06:13,040 --> 00:06:15,560 Speaker 1: in the aftermath of the decision by the United States 142 00:06:15,880 --> 00:06:20,040 Speaker 1: more President Trump to impose tariffs, Like Canadians were initially shocked. 143 00:06:20,880 --> 00:06:24,320 Speaker 4: Now they're really angry. And I don't want. 144 00:06:24,200 --> 00:06:26,880 Speaker 1: Us to get down the path to where we actually 145 00:06:26,920 --> 00:06:30,800 Speaker 1: are not able to even have reasonable conversations because our 146 00:06:30,839 --> 00:06:32,640 Speaker 1: citizens are so mad at each other. 147 00:06:33,360 --> 00:06:34,320 Speaker 4: Why would we do that? 148 00:06:34,440 --> 00:06:36,240 Speaker 1: Like, at the end of the day, most of us 149 00:06:36,320 --> 00:06:38,680 Speaker 1: have family friends in the United States and the same 150 00:06:38,760 --> 00:06:41,760 Speaker 1: is true for Americans in Canada. We need to get 151 00:06:41,800 --> 00:06:43,920 Speaker 1: back to a more constructive conversation on. 152 00:06:43,880 --> 00:06:47,480 Speaker 3: The economic side. If we continue to see tariffs, obviously 153 00:06:47,720 --> 00:06:50,279 Speaker 3: the production and the price in Canada will have to 154 00:06:50,360 --> 00:06:52,800 Speaker 3: fall to compensate for the tariffs. So there's still a 155 00:06:52,800 --> 00:06:56,440 Speaker 3: market for that metal or oil or gas what have you. 156 00:06:57,360 --> 00:06:59,599 Speaker 3: If it doesn't happen or if it falls really low, 157 00:06:59,839 --> 00:07:02,159 Speaker 3: are going to have see producers shutting capacity. Have you 158 00:07:02,200 --> 00:07:03,320 Speaker 3: had those conversations? 159 00:07:04,200 --> 00:07:07,640 Speaker 1: Well, it depends sector by sector and almost product by product. 160 00:07:08,279 --> 00:07:10,360 Speaker 1: In many cases, the prices are going to be paid 161 00:07:10,360 --> 00:07:13,880 Speaker 1: by American consumers, not by Canadian producers, and they will 162 00:07:13,880 --> 00:07:16,560 Speaker 1: simply have to eat the terraffs. Like on aluminum, as 163 00:07:16,560 --> 00:07:19,280 Speaker 1: I say, twenty percent of the need in the United 164 00:07:19,280 --> 00:07:21,880 Speaker 1: States is produced in the United States. Canadian aluminum producers 165 00:07:21,920 --> 00:07:23,520 Speaker 1: are not going to eat the terraff It's going to 166 00:07:23,520 --> 00:07:25,800 Speaker 1: be people who are building cars and building planes and 167 00:07:25,840 --> 00:07:28,320 Speaker 1: those kinds of things. There will be sectors certainly that 168 00:07:28,400 --> 00:07:30,840 Speaker 1: will be impacted. I would say steel is one that 169 00:07:30,880 --> 00:07:34,280 Speaker 1: we are concerned about, and we may see that there 170 00:07:34,320 --> 00:07:36,600 Speaker 1: are economic impacts in Canada, but there will be in 171 00:07:36,600 --> 00:07:39,280 Speaker 1: the United States too, Like people are everything that you 172 00:07:39,320 --> 00:07:42,320 Speaker 1: are building here uses steel that now is higher priced 173 00:07:42,600 --> 00:07:43,600 Speaker 1: because of the terrifts. 174 00:07:43,600 --> 00:07:46,680 Speaker 3: Would government have to support those producers that would struggle. 175 00:07:47,840 --> 00:07:50,080 Speaker 1: That's certainly a conversation we're having, and we just brought 176 00:07:50,120 --> 00:07:53,120 Speaker 1: in a package that would provide support, particularly to workers 177 00:07:53,120 --> 00:07:53,880 Speaker 1: who may be effective. 178 00:07:53,920 --> 00:07:57,840 Speaker 3: But yeah, the other option longer term is to diversify 179 00:07:57,880 --> 00:08:00,840 Speaker 3: where you export, which has been a converse obviously in 180 00:08:00,880 --> 00:08:03,840 Speaker 3: terms of how you even get stuff out to Asia. 181 00:08:03,920 --> 00:08:07,040 Speaker 3: For example, what would be Could we ever see an 182 00:08:07,040 --> 00:08:09,480 Speaker 3: east to west pipeline financed by the government, Like is 183 00:08:09,520 --> 00:08:11,440 Speaker 3: that something that's now potentially on the table. 184 00:08:12,520 --> 00:08:15,320 Speaker 1: I think it depends a little bit on what transpires 185 00:08:15,360 --> 00:08:18,000 Speaker 1: with the tariffs, I would say that in the universe 186 00:08:18,040 --> 00:08:20,240 Speaker 1: where oil continues to flow to the United States, and 187 00:08:20,280 --> 00:08:23,840 Speaker 1: I think there are very strong structural economic reasons to 188 00:08:23,880 --> 00:08:26,760 Speaker 1: believe that to be true. The argument for an East 189 00:08:26,760 --> 00:08:29,400 Speaker 1: West pipeline in Canada would be as much about national 190 00:08:29,440 --> 00:08:31,920 Speaker 1: security and energy security as it would actually be about 191 00:08:31,960 --> 00:08:34,760 Speaker 1: a business case that would support that. 192 00:08:34,760 --> 00:08:36,400 Speaker 4: That is certainly something that's an option. 193 00:08:36,480 --> 00:08:39,280 Speaker 1: I mean, Canada has parts of its country where we 194 00:08:39,360 --> 00:08:41,600 Speaker 1: are served by pipelines that run into the United States 195 00:08:41,640 --> 00:08:46,280 Speaker 1: and back up. But those conversations only really become relevant if, 196 00:08:46,280 --> 00:08:48,200 Speaker 1: in fact, we can't find a pathway out in this 197 00:08:48,200 --> 00:08:51,439 Speaker 1: whole situation gets worse, and that's not what I think 198 00:08:51,480 --> 00:08:52,640 Speaker 1: any reasonable person wants. 199 00:08:52,679 --> 00:08:54,760 Speaker 3: But it does feel that even if it gets better 200 00:08:54,800 --> 00:08:57,440 Speaker 3: with the US, like maybe that needs to happen anyway, 201 00:08:57,480 --> 00:09:01,560 Speaker 3: just in terms of diversification on your exports, if Canada 202 00:09:01,559 --> 00:09:03,600 Speaker 3: paid for it, would it be an export tax? Like 203 00:09:03,720 --> 00:09:04,920 Speaker 3: is that something that's on the table. 204 00:09:05,679 --> 00:09:07,680 Speaker 1: So we're not that far down the road, but we 205 00:09:07,720 --> 00:09:10,880 Speaker 1: certainly are having the conversation around diversification for many products. 206 00:09:10,960 --> 00:09:14,200 Speaker 1: That's about the railways and the ports. Right for gas, 207 00:09:14,240 --> 00:09:17,120 Speaker 1: it's actually about the LNG facilities that we're already constructing 208 00:09:18,040 --> 00:09:21,000 Speaker 1: and for oil. I think that's a legitimate conversation that 209 00:09:21,040 --> 00:09:22,040 Speaker 1: Canadians are going to need. 210 00:09:21,960 --> 00:09:25,160 Speaker 3: To have in terms of expanding capacity of other pipelines. 211 00:09:25,200 --> 00:09:27,240 Speaker 3: For example, there was a recent expansion of the Trans 212 00:09:27,280 --> 00:09:31,440 Speaker 3: Mountain expansion pipeline, but that is selling out real fast. Like, 213 00:09:31,520 --> 00:09:35,240 Speaker 3: is there any expansion capacity that you do have on pipelines? 214 00:09:35,880 --> 00:09:38,520 Speaker 4: There is the Trans Mountain pipeline. 215 00:09:38,559 --> 00:09:41,559 Speaker 1: We could augment it, not hugely, it's probably another four 216 00:09:41,600 --> 00:09:45,200 Speaker 1: hundred thousand barrels with a few changes, So that's certainly 217 00:09:45,280 --> 00:09:48,320 Speaker 1: something that's on the table. The Enbridge mainline and some 218 00:09:48,360 --> 00:09:50,360 Speaker 1: of the pipelines that run into the United States could 219 00:09:50,400 --> 00:09:54,040 Speaker 1: actually be augmented in partnership if we actually find pathways 220 00:09:54,040 --> 00:09:57,640 Speaker 1: through this. But of course, right now in the tariff conversation, 221 00:09:57,679 --> 00:10:00,400 Speaker 1: we're probably more interest in pipelines that actually allow expert 222 00:10:00,440 --> 00:10:00,920 Speaker 1: somewhere else. 223 00:10:01,040 --> 00:10:04,120 Speaker 3: No fair enough. The conversation the markets, obviously has been 224 00:10:04,160 --> 00:10:07,640 Speaker 3: very much around recession, growth, worries, territories, et cetera. What 225 00:10:07,679 --> 00:10:10,800 Speaker 3: are the conversations along those lines that you guys are having. 226 00:10:11,640 --> 00:10:13,319 Speaker 1: Well, I mean, we're all watching what's happening here. The 227 00:10:13,320 --> 00:10:17,360 Speaker 1: stock market. I mean, it's been pretty brutal for investors, 228 00:10:18,200 --> 00:10:22,440 Speaker 1: and that's partly because people understand how detrimental these tariffs 229 00:10:22,440 --> 00:10:24,040 Speaker 1: are going to be on both sides of the order, 230 00:10:24,040 --> 00:10:26,320 Speaker 1: but it's partly because of the uncertainty about what happens 231 00:10:26,360 --> 00:10:28,200 Speaker 1: tomorrow and what happens the day after that, and what 232 00:10:28,280 --> 00:10:29,200 Speaker 1: happens the day after that. 233 00:10:29,800 --> 00:10:31,280 Speaker 4: We need to get back. 234 00:10:31,280 --> 00:10:33,960 Speaker 1: I mean President Trump is a business person, I'm a 235 00:10:33,960 --> 00:10:36,400 Speaker 1: business person. At the end of the day, you need 236 00:10:36,440 --> 00:10:40,199 Speaker 1: to provide certainty going forward in order for your economy 237 00:10:40,280 --> 00:10:42,079 Speaker 1: work effectively. And I think we need to get back 238 00:10:42,120 --> 00:10:44,079 Speaker 1: to a place where people are certain about what's. 239 00:10:43,880 --> 00:10:45,320 Speaker 4: Going to happen tomorrow, in the day after and the 240 00:10:45,360 --> 00:10:46,080 Speaker 4: day after that. 241 00:10:46,080 --> 00:10:49,320 Speaker 2: That was Jonathan Wilkinson, Minister of Energy and Natural Resources 242 00:10:49,320 --> 00:10:53,000 Speaker 2: of Canada, speaking with Bloomberg's Alex Steele at Sierra Week 243 00:10:53,200 --> 00:10:53,760 Speaker 2: in Houston.