Podcasts about Canadian Global Affairs Institute

On this episode of #TheGlobalExchange, Colin Robertson sits down with Drew Fagan and Perrin Beatty to discuss the renegotiations of Canada's strategy for CUSMA. // Guest bios: - Perrin Beatty is a former Minister of Foreign Affairs of Canada. - Drew Fagan is a Professor at the Munk School of Global Affairs and Public Policy and a former Ontario deputy minister. // Host bio: Colin Robertson is a former diplomat and Senior Advisor to the Canadian Global Affairs Institute. // Music Credit: Drew Phillips | Producer: Judy Alomari // Recording Date: July 8, 2026 Release date: July 20, 2026

Stijn Schmitz welcomes Rory Johnston to the show. Rory Johnston is a Commodity Market Research Specializing in Oil and Gas. Johnston describes an unprecedented period of volatility in oil markets, where the supply-demand balance swung radically within a single month. Following a ceasefire in the Strait of Hormuz, a surge of previously stranded tankers created a temporary mini-glut, flipping market structures from severe backwardation into contango. However, this glut proved fleeting as inbound empty tankers, initially driven by the most risk-tolerant owners, have dried up, leaving Gulf loadings constrained by available shipping capacity. Consequently, supply is tightening aggressively again. The most significant factor absorbing the supply shock is China, which swung its crude imports down by five million barrels per day without clear economic damage domestically. Johnston explores speculative explanations, including massive refined product stock releases, a coal-to-petrochemical feedstock switch, or a geopolitical understanding with the US. He also suggests China may be using the crisis as a successful dry run for weathering a potential blockade in a Taiwan conflict scenario. This swing, totaling roughly half a billion barrels, dwarfs the collective releases from IEA member states. Beyond crude, the refined products market, particularly diesel, is critically tight. Diesel crack spreads have soared to staggering levels, driven by drone attacks damaging Russian refineries, prior damage in the Middle East, and China slashing product exports. Johnston clarifies that strategic petroleum reserves function as a supply boost, not passive inventory, and that operational tank minimums at hubs like Cushing primarily affect regional price differentials to discourage exports, not trigger infinite crude spikes. He concludes that the overriding vulnerability is refining capacity, which is easy to target and hard to defend, making North American facilities a potentially valuable geopolitical safe haven in the current drone warfare era. Timestamps: 00:00:00 – Introduction 00:00:29 – Guest Rory Johnson Introduction 00:01:06 – Energy Supply Demand Dynamics 00:04:30 – Mini-Glut and Market Flip 00:07:45 – Hormuz Traffic and Tankers 00:10:44 – China Import Swing Explained 00:15:00 – China Inventory Releases Analyzed 00:20:45 – Western SPR and Inventories 00:25:30 – Commercial vs Strategic Stocks 00:29:00 – Global Oil Deficit Calculation 00:34:00 – Refining Capacity Tightness 00:42:00 – Product Shortages and Prices 00:48:00 – Refinery Investment Outlook 00:52:50 – Concluding Thoughts Guest Links: Substack: https://www.commoditycontext.com/ X: https://x.com/Rory_Johnston Rory Johnston is a Toronto-based oil market researcher, the founder of Commodity Context, a lecturer at the University of Toronto's Munk School of Global Affairs and Public Policy, host of the Oil Ground Up podcast, as well as a Fellow with both the Canadian Global Affairs Institute and the Payne Institute for Public Policy at the Colorado School of Mines. He is a leading voice on oil market analysis, advising institutional investors, global policy makers, and corporate decision makers. His views are regularly quoted in major international media including the Financial Times, New York Times, Wall Street Journal, Bloomberg News, Reuters, BNN Bloomberg, CBC, and Financial Post, and he frequently appears on numerous market and industry podcasts (e.g., Bloomberg's Odd Lots, Hidden Forces, etc.). Prior to founding Commodity Context, Rory led commodity economics research at Scotiabank where he set the bank's energy and metals price forecasts, advised the bank's executives and clients, and sat on the bank's senior credit committee for commodity-exposed sectors.

On this episode of the Energy Security Cubed Podcast, Joe Calnan talks with Heather Exner-Pirot about the recent energy announcement and the role of critical minerals in the Canadian economy. --- Guest: - Heather Exner-Pirot is a Senior Fellow and Director of Natural Resources, Energy, and Environment at the Macdonald-Laurier Institute --- Reading recommendation: - "Catcher in the Rye", byJerome David Salinger: https://www.amazon.ca/dp/0316769487 --- Interview recording Date: July 13, 2026 // Energy Security Cubed is part of the CGAI Podcast Network. Follow the Canadian Global Affairs Institute on Facebook, Twitter (@CAGlobalAffairs), or on LinkedIn. Head over to our website at www.cgai.ca for more commentary. // Produced by Judy Alomari Music credits to Drew Phillips.

On this episode of #TheGlobalExchange, Colin Robertson sits down with Robert Zoellick and Derek Burney to discuss the renegotiations of the US-Canada trade relations. // Guest bios: - Robert B. Zoellick is an American lawyer and former World Bank Group president from 2007 to 2012. - Derek Burney is a former Canada's Ambassador to the United States. // Host bio: Colin Robertson is a former diplomat and Senior Advisor to the Canadian Global Affairs Institute. // Music Credit: Drew Phillips | Producer: Judy Alomari // Recording Date: June 29, 2026 Release date: July 13, 2026

Oil market expert Rory Johnston provides a comprehensive analysis of the current global energy landscape and recent supply disruptions. He examines the Strait of Hormuz crisis, the impact of Ukrainian drone strikes on Russian refineries, and the surprising resilience of the market due to China’s massive reduction in crude imports. The discussion explores potential geopolitical shifts, such as the UAE's departure from OPEC and Iran's attempts to control vital shipping lanes. Ultimately, Johnston highlights a transition toward a more interventionist era where nations must prioritize energy sovereignty and infrastructure diversification to survive future shocks. Escape the Technocracy Live Workshop (w/ Geopolitics & Empire)! https://escapethetechnocracy.com/product-escape-the-technocracy-live-workshop-season-2 Watch on BitChute / Brighteon / Rumble / Substack / YouTube *Support Geopolitics & Empire! Become a Member https://geopoliticsandempire.substack.com Donate https://geopoliticsandempire.com/donations Consult https://geopoliticsandempire.com/consultation **Listen Ad-Free for $4.99 a Month or $49.99 a Year! Apple Subscriptions https://podcasts.apple.com/us/podcast/geopolitics-empire/id1003465597 Supercast https://geopoliticsandempire.supercast.com ***Visit Our Affiliates & Sponsors! Above Phone https://abovephone.com/?above=geopolitics American Gold Exchange https://www.amergold.com/geopolitics Escape The Technocracy (15% off w/ GEOPOLITICS!) https://escapethetechnocracy.com/geopolitics Expat Money (FREE “WW3 Plan-B” Report!) https://expatmoney.com/geopolitics PassVult https://passvult.com Sociatates Civis https://societates-civis.com StartMail https://www.startmail.com/partner/?ref=ngu4nzr Wise Wolf Gold https://www.wolfpack.gold/?ref=geopolitics Websites Commodity Context https://www.commoditycontext.com X https://x.com/Rory_Johnston Oil Ground Up Podcast https://open.spotify.com/show/6TmpuAGFd9FVFCFJdpk2iB About Rory Johnston Rory Johnston is a Toronto-based oil market researcher, the founder of Commodity Context, a lecturer at the University of Toronto's Munk School of Global Affairs and Public Policy, host of the Oil Ground Up podcast, as well as a Fellow with both the Canadian Global Affairs Institute and the Payne Institute for Public Policy at the Colorado School of Mines. He is a leading voice on oil market analysis, advising institutional investors, global policy makers, and corporate decision makers. His views are regularly quoted in major international media including the Financial Times, New York Times, Wall Street Journal, Bloomberg News, Reuters, BNN Bloomberg, CBC, and Financial Post, and he frequently appears on numerous market and industry podcasts (e.g., Bloomberg's Odd Lots, Hidden Forces, etc.). Prior to founding Commodity Context, Rory led commodity economics research at Scotiabank where he set the bank's energy and metals price forecasts, advised the bank's executives and clients, and sat on the bank's senior credit committee for commodity-exposed sectors. *Podcast intro music used with permission is from the song “The Queens Jig” by the fantastic “Musicke & Mirth” from their album “Music for Two Lyra Viols”: http://musicke-mirth.de/en/recordings.html (available on iTunes or Amazon)

On this episode of the Energy Security Cubed Podcast, Joe Calnan talks with Solange Marquez about current status of USMCA, particularly the trade relationship and negotiations between the US and Mexico. --- Guest: - Solange Márquez is a CGAI Fellow and a professor at the Law School of the National Autonomous University of Mexico (UNAM). --- Reading recommendation: - "The Triangle of Power: Rebalancing the New World Order", by Alexander Stubb: https://www.amazon.ca/Triangle-Power-Rebalancing-World-Order/dp/1967190100 --- Interview recording Date: June 29, 2026 // Energy Security Cubed is part of the CGAI Podcast Network. Follow the Canadian Global Affairs Institute on Facebook, Twitter (@CAGlobalAffairs), or on LinkedIn. Head over to our website at www.cgai.ca for more commentary. // Music credits to Drew Phillips.

Roger Hilton, former Montrealer working as a non-resident fellow at the Canadian Global Affairs Institute in Vienna Image: THE CANADIAN PRESS/Adrian Wyld

On this episode of #TheGlobalExchange, Colin Robertson sits down with Gordon Griffin and John Manley to discuss the future of North American idea as Canada, the United States and Mexico enter a new phase of CUSMA discussions. // Guest bios: - Gordon Griffin is a former United States Ambassador to Canada - John Manley is a lawyer and former Deputy Prime Minister of Canada // Host bio: Colin Robertson is a former diplomat and Senior Advisor to the Canadian Global Affairs Institute. // Reading Recommendations: "A Woman of No Importance", by Sonia Purnell. https://www.amazon.ca/Woman-No-Importance-Untold-American/dp/073522529X "No Ordinary Time: Franklin and Eleanor Roosevelt: The Home Front in World War II", by Doris Kearns Goodwin. https://www.amazon.ca/No-Ordinary-Time-Franklin-Roosevelt/dp/0684804484 // Music Credit: Drew Phillips | Producer: Judy Alomari // Recording Date: June 25, 2026 Release date: July 6, 2026

On The Brian Crombie Hour, Brian is joined by former Canadian diplomat and Fellow at the Canadian Global Affairs Institute, Colin Robertson, for a timely conversation about the United States at 250 and what America's evolution means for Canada.As the United States marks its 250th anniversary, the discussion explores a series of pressing questions: Has America fundamentally changed? Is the rise of Donald Trump the cause of today's uncertainty or a symptom of deeper economic, political, and cultural forces? And how should Canada respond to an increasingly unpredictable world?The conversation begins with a look beyond Washington, examining why many Canadians misunderstand the United States and how America's founders intentionally designed a system of checks and balances. Robertson explains why the country's fifty states remain powerful laboratories of democracy and why governors, business leaders, and civic institutions often matter as much as national politics.The discussion then turns to Donald Trump and the future of American democracy. Brian and Robertson examine the growth of presidential power, the weakening of Congress, the enduring tradition of American civic engagement, and whether the country's democratic institutions remain resilient in the face of unprecedented political pressures.Finally, the focus shifts to Canada and the choices ahead. Robertson argues that Canada cannot afford either complacency or panic. Instead, the country must preserve its vital partnership with the United States while also diversifying trade, investing in infrastructure, strengthening defence capabilities, encouraging innovation, and building the resilience needed to succeed in a rapidly changing world.A thoughtful and balanced conversation about one of the most consequential relationships in international affairs—and how Canada should navigate the next chapter with its closest neighbour.

On this episode of the Energy Security Cubed Podcast, Joe Calnan talks with Kelly Ogle to discuss demand destruction for oil in China and the case for air conditioning in Europe. // Guest: - Kelly Ogle is Chairman of Era and Board Member at the Canadian Global Affairs Institute // Interview recording Date: June 30, 2026 // Energy Security Cubed is part of the CGAI Podcast Network. Follow the Canadian Global Affairs Institute on Facebook, Twitter (@CAGlobalAffairs), or on LinkedIn. Head over to our website at www.cgai.ca for more commentary. // Music credits to Drew Phillips.

On this episode of #TheGlobalExchange, Colin Robertson sits down with David Frum to discuss America at 250, the endurance of the Founder's ideals and what America's current political moment means for Canada and other democracies. // Guests' bios David Frum is a Canadian-American conservative political commentator and a former speechwriter. // Host bio: Colin Robertson is a former diplomat and Senior Advisor to the Canadian Global Affairs Institute. // Reading Recommendations: "Gotham: A History of New York City to 1898", by Mike Wallace. https://www.amazon.ca/Gotham-History-York-City-1898/dp/0195140494 // Music Credit: Drew Phillips | Producer: Judy Alomari // Recording Date: June 24, 2026 Release date: June 29, 2026

On this episode of the Energy Security Cubed Podcast, Joe Calnan talks with Rory Johnston about the potential peace deal between the United States and Iran, and how we should think about the oil market. --- Guest: - Rory Johnston is a CGAI Fellow and the founder of Commodity Context --- Reading recommendation: - "The Great Mortality: An Intimate History of the Black Death, the Most Devastating Plague of All Time ― A Powerful Narrative of Societal Collapse", by John Kelly: https://www.amazon.ca/Great-Mortality-Intimate-History-Devastating/dp/0060006935 --- Interview recording Date: June 22, 2026 // Energy Security Cubed is part of the CGAI Podcast Network. Follow the Canadian Global Affairs Institute on Facebook, Twitter (@CAGlobalAffairs), or on LinkedIn. Head over to our website at www.cgai.ca for more commentary. // Music credits to Drew Phillips.

On this episode of #TheGlobalExchange, Colin Robertson sits down with Adrian Wooldridge to discuss his book The Revolutionary Center: The Lost Genius of Liberalism. // Guests' bios Adrian Wooldridge is an author and columnist. He is the Global Business Columnist at Bloomberg Opinion. // Host bio: Colin Robertson is a former diplomat and Senior Advisor to the Canadian Global Affairs Institute. // Music Credit: Drew Phillips | Producer: Judy Alomari // Recording Date: June 17, 2026 Release date: June 22, 2026

On this episode of the Energy Security Cubed Podcast, we feature a re-run of an episode from July 2025 where Kelly Ogle and Joe Calnan talk with Kathleen Gnocato and Shaz Merwat about the role of Canadian LNG in diplomacy around the G7. You can find their report for RBC Thought Leadership here: https://www.rbc.com/en/thought-leadership/the-growth-project/a-g7-strategy-for-natural-gas-four-scenarios-for-energy-security-in-the-2040s/ For the intro section, Joe unpacks the peace deal between Iran and the United States. // Guest Bio: - Kathleen Gnocato is the LNG Research Initiative Lead, Independent Consultant for RBC Thought Leadership - Shaz Merwat is Energy Policy Lead for RBC's Climate Action Institute // Host Bio: - Kelly Ogle is Managing Director of the Canadian Global Affairs Institute - Joe Calnan is VP, Energy and Calgary Operations at the Canadian Global Affairs Institute // Reading recommendations: - "From the Ashes: My Story of Being Métis, Homeless, and Finding My Way", by Jesse Thistle: https://www.simonandschuster.ca/books/From-the-Ashes/Jesse-Thistle/9781982101213 - "Apple in China: The Capture of the World's Greatest Company", by Patrick McGee: https://www.simonandschuster.ca/books/Apple-in-China/Patrick-McGee/9781668053379 // Interview recording Date: July 2, 2025 // Energy Security Cubed is part of the CGAI Podcast Network. Follow the Canadian Global Affairs Institute on Facebook, Twitter (@CAGlobalAffairs), or on LinkedIn. Head over to our website at www.cgai.ca for more commentary. // Produced by Joe Calnan. Music credits to Drew Phillips.

On this episode of #TheGlobalExchange, Colin Robertson sits down with Jeremy Kinsman and John Negroponte to talk about trade and international diplomacy in a rapidly changing world in the context of the renewal, revision or repudiation of the North American trade agreement – CUSMA, USMCA or T-MEC. // Participants' bios: - Jeremy Kinsman served as Canada's ambassador to Russia, high commissioner to the UK, ambassador to Italy and ambassador to the European Union. He is a Distinguished Fellow of the Canadian International Council - John D. Negroponte is a United States career diplomat and national security official, former Director of National Intelligence, and former United States Permanent Representative to the United Nations // Host bio: Colin Robertson is a former diplomat and Senior Advisor to the Canadian Global Affairs Institute. // Reading Recommendations: - "The Loneliness of Sonia and Sunny: A Novel", by Kiran Desai: https://www.amazon.ca/Loneliness-Sonia-Sunny-Novel/dp/0307401219 - "London Falling: A Mysterious Death in a Gilded City and a Family's Search for Truth", by Patrick Radden Keefe: https://www.amazon.ca/London-Falling-Mysterious-Gilded-Familys-ebook/dp/B0FGZW9SZN - "Iran's Grand Strategy: A Political History", by Vali Nasr: https://www.amazon.ca/Irans-Grand-Strategy-Political-History/dp/0691268924 // Music Credit: Drew Phillips | Producer: Judy Alomari // Release date: June 03, 2026

On this episode of the Energy Security Cubed Podcast, Joe Calnan talks with Randolph Mank about the energy opportunities in Asia and the importance of diplomacy for extending Canadian energy supply chains. --- Guest: - Randolph Mank is President of MankGlobal Inc., former Senior Advisor and Vice President Asia for BlackBerry, and former High Commissioner or Ambassador for Canada to Malaysia, Pakistan, and Indonesia --- Reading recommendation: - "Thinking, Fast and Slow", by Daniel Kahneman: https://www.amazon.ca/Thinking-Fast-Slow-Daniel-Kahneman/dp/0374533555 --- Interview recording Date: May 27, 2026 // Energy Security Cubed is part of the CGAI Podcast Network. Follow the Canadian Global Affairs Institute on Facebook, Twitter (@CAGlobalAffairs), or on LinkedIn. Head over to our website at www.cgai.ca for more commentary. // Music credits to Drew Phillips.

On this episode of #TheGlobalExchange, Colin Robertson sits down with John Parisella and Bruce Stokes to talk about Canada-US relations as we commence formal negotiations over the renewal, revision or repudiation of the North American trade agreement – CUSMA, USMCA or T-MEC.  // Participants' bios: - John Parisella served as Chief of Staff to Quebec Premiers Robert Bourassa and Jean Charest and then as Quebec Delegate General in New York City. - Bruce Stokes is Visiting Senior Fellow at the German Marshall Fund and a member of the Council on Foreign Relations. // Host bio: Colin Robertson is a former diplomat and Senior Advisor to the Canadian Global Affairs Institute. // Reading Recommendations: - "The Spanish Civil War" by Hugh Thomas - "Team of Rivals" by Doris Goodwin // Music Credit: Drew Phillips | Producer: Jordyn Carroll // Release date: June 04, 2026

On this episode of the Energy Security Cubed Podcast, Joe Calnan talks with Kelly Ogle to discuss the latest updates on oil prices and some of the major news stories unfolding in Canada and around the world // Guest: - Kelly Ogle is Chairman of Era and Board Member at the Canadian Global Affairs Institute // Reading recommendation: - "The Alice Network" by Kate Quinn - "The Concept of the Political" by Carl Schmitt // Interview recording Date: May 29, 2026 // Energy Security Cubed is part of the CGAI Podcast Network. Follow the Canadian Global Affairs Institute on Facebook, Twitter (@CAGlobalAffairs), or on LinkedIn. Head over to our website at www.cgai.ca for more commentary. // Music credits to Drew Phillips.

⁠Andrew Rasiulis is a defence and Eastern European affairs expert with the Canadian Global Affairs Institute  https://globalnews.ca/news/11886452/russia-hits-ukraine-with-drones-missile-strikes-in-deadly-overnight-attack/ Learn more about your ad choices. Visit megaphone.fm/adchoices

On this episode of #TheGlobalExchange, Colin Robertson sits down with Gordon Venner and Jon Allen to discuss what is happening in the Middle East – Iran, Israel, Palestine - and its implications for Canada. // Participants' bios: - Gordon Venner is former Ambassador to Iran and Associate Deputy Minister of Defence. - Jon Allen is former Ambassador to Israel and Spain, and a Senior Fellow at the Bill Graham Centre for Contemporary International History at the University of Toronto. // Host bio: Colin Robertson is a former diplomat and Senior Advisor to the Canadian Global Affairs Institute. // Reading Recommendations: - "Barack Obama Considers His Role in the Age of Trump" by Peter Slevin // Music Credit: Drew Phillips | Producer: Jordyn Carroll // Release date: June 01, 2026

On this episode of the Energy Security Cubed Podcast, Joe Calnan talks with Bahman Radnejad about the Government of Canada's latest paper, "Getting Major Projects Built in Canada" and whether or not these changes will bring about a shift change for investment in Canada. --- Guest: - Bahman Radnejad is a CGAI Fellow and Chair and Associate Professor of Innovation and Marketing at Mount Royal University --- Reading recommendation: - "Developing Leadership Character" by Mary Crossan, Gerard Seijts and Jeffrey Gandz - "Choosing Courage" by Jim Detert --- Interview recording Date: May 27, 2026 // Energy Security Cubed is part of the CGAI Podcast Network. Follow the Canadian Global Affairs Institute on Facebook, Twitter (@CAGlobalAffairs), or on LinkedIn. Head over to our website at www.cgai.ca for more commentary. // Music credits to Drew Phillips.

As we inch closer to the July 1st CUSMA review deadline, there still aren't any formal trade talks between Canada and the U.S. planned. The government says there are informal talks happening at different levels. Other recent developments aren't great. U.S. officials have blasted a substantial hike in what big streamers have to pay into Canadian content, and they've suspended a joint defense board that's been around for 80 years. This week as talks between the U.S. and Mexico begin, Canada is excluded. Our returning guest is Eric Miller, the president of Rideau Potomac Strategy Group and a fellow at the Canadian Global Affairs Institute.For transcripts of Front Burner, please visit: https://www.cbc.ca/radio/frontburner/transcripts

On this episode of #TheGlobalExchange, Colin Robertson sits down with Gordon Holden, Howard Balloch and Stewart Beck to the discuss the Xi-Trump Summit. // Participants' bios: Gordon Houlden is Director Emeritus of the China Institute, Professor of Political Science and Adjunct Professor of the Alberta School of Business at the University of Alberta.. Howard Balloch served as the Canadian Ambassador to China and then in the private sector in Beijing and Hong Kong. Stewart Beck served as the Canadian Consul General in Shanghai and San Francisco and High Commissioner to India before heading the Asia-Pacific Foundation. // Host bio: Colin Robertson is a former diplomat and Senior Advisor to the Canadian Global Affairs Institute. // Reading Recommendations: - "Apple in China" by Patrick Mcgee - "Coming Up Short" by Robert Reich -"Party of One: The Rise of Xi Jinping and China's Superpower Future" by Chun Han Wong // Music Credit: Drew Phillips | Producer: Jordyn Carroll // Release date: May 25, 2026

On this episode of the Energy Security Cubed Podcast, Joe Calnan talks with Ian Wereley about the British imperial precedent for energy security issues, and takeaways for our current moment. --- Guest: - Ian Wereley is an Adjunct Research Professor at Carleton University's Department of History - Joe Calnan is VP Energy and Calgary Operations at the Canadian Global Affairs Institute. --- Reading recommendation: - "Carbon Democracy: Political Power in the Age of Oil", by Timothy Mitchell: https://www.amazon.ca/Carbon-Democracy-Political-Power-Age/dp/1781681163 - "Ducks: Two Years in the Oil Sands", by Kate Beaton: https://www.amazon.ca/Ducks-Two-Years-Oil-Sands/dp/1770462899 - "Oil Culture", by Ross Barrett and Daniel Worden: https://www.amazon.ca/Oil-Culture-Ross-Barrett/dp/0816689741 --- Interview recording Date: May 19, 2026 // Energy Security Cubed is part of the CGAI Podcast Network. Follow the Canadian Global Affairs Institute on Facebook, Twitter (@CAGlobalAffairs), or on LinkedIn. Head over to our website at www.cgai.ca for more commentary. // Produced by Joe Calnan. Music credits to Drew Phillips.

On this episode of #TheGlobalExchange, Colin Robertson sits down with Michael Ignatieff to discuss diplomacy and developments in Europe in aftermath of the Hungarian election. // Participants' bios: Michael Ignatieff is Rector Emeritus and Professor of History at Central European University. // Host bio: Colin Robertson is a former diplomat and Senior Advisor to the Canadian Global Affairs Institute. // Music Credit: Drew Phillips | Producer: Jordyn Carroll // Release date: May 15, 2026

On this episode of the Energy Security Cubed Podcast, Joe talks with Patrick O'Rourke about the views of investors on Canada's energy strategy, and what this means for the development of much-needed infrastructure. For the intro, Joe covers the Alberta-Montana dispute over electricity trade and the growing role of Chinese solar panels in Africa. // Guest Bio: - Patrick O'Rourke is Managing Director, Institutional Equity Research (E&P) at ATB Cormark Capital Markets // Host Bio: - Joe Calnan is VP Energy and Calgary Operations at the Canadian Global Affairs Institute // Reading recommendation: - "Rise to Greatness: The History of Canada From the Vikings to the Present", by Conrad Black: https://www.amazon.ca/Rise-Greatness-History-Vikings-Present/dp/077101354X // Interview recording Date: May 4, 2026 // Energy Security Cubed is part of the CGAI Podcast Network. Follow the Canadian Global Affairs Institute on Facebook, Twitter (@CAGlobalAffairs), or on LinkedIn. Head over to our website at www.cgai.ca for more commentary. // Produced by Joe Calnan. Music credits to Drew Phillips.

Andrew Rasiulis is a defence and Eastern European affairs expert with the Canadian Global Affairs Institute. Learn more about your ad choices. Visit megaphone.fm/adchoices

On this episode of #TheGlobalExchange, Colin Robertson sits down with Jonathan Fried and Kevin Nealer to discuss the current state of CUSMA/USMCA/T-MEC. // Participants' bios: Jonathan Fried is a CGAI Fellow and former Ambassador to Japan and the World Trade Organization Canada, as well as Senior Foreign Policy Advisor to former Prime Minister Justin Trudeau. Kevin Nealer is a Principal at the Scowcroft Group and former member of President Barak Obama's President's Intelligence Advisory Board. // Host bio: Colin Robertson is a former diplomat and Senior Advisor to the Canadian Global Affairs Institute. // Reading Recommendations: - "The Pretender" by Jo Harkin // Music Credit: Drew Phillips | Producer: Jordyn Carroll // Release date: May 11, 2026

On this special episode of the Energy Security Cubed Podcast, Kelly Ogle and Joe Calnan discuss the vibes from Washington D.C. on CUSMA, continued closure of the Strait of Hormuz, oil price predictions for May, and Spain's choices on energy subsidies. You can find the Politico article here: https://www.politico.com/news/2026/05/05/inside-collapse-canada-us-trade-deal-00905837 // Donate to CGAI here: buy.stripe.com/28o29deEmeCH1ck8ww // - Kelly Ogle is a member of the Board of Directors of the Canadian Global Affairs Institute - Joe Calnan is VP, Energy and Calgary Operations at the Canadian Global Affairs Institute. // Reading recommendations: - "Culture of Control: Farming With the Shackles of the Canadian Wheat Board", by Ken Motiuk: https://www.amazon.ca/Culture-Control-Farming-Shackles-Canadian/dp/1038317541 - "Blood Meridian: Or the Evening Redness in the West", by Cormack McCarthy: https://www.amazon.ca/Blood-Meridian-Evening-Redness-West/dp/0679728759 // Recording date: May 5, 2026 // Energy Security Cubed is part of the CGAI Podcast Network. Follow the Canadian Global Affairs Institute on Facebook, Twitter (@CAGlobalAffairs), or on LinkedIn. Head over to our website at www.cgai.ca for more commentary. // Produced by Joe Calnan. Music credits to Drew Phillips.

On this episode of #TheGlobalExchange, Colin Robertson sits down with Vice-Admiral Angus Topshee and Richard Gimblett about the Battle of the Atlantic, Richard's new book, and future developments in the Royal Canadian Navy. // Participants' bios: Vice-Admiral Angus Topshee is the Commander of the Royal Canadian Navy Richard Gimblett is a former naval officer, scholar, historian and author of several books on Canadian Naval history // Host bio: Colin Robertson is a former diplomat and Senior Advisor to the Canadian Global Affairs Institute. // Reading Recommendations: - "Pirate of the Adriatic" by Sean Livingston - "Strategy Shelved" by Steve Wills - "Guardians of the North" by Richard Gimblett -"The New Lessons of the Battle of the Atlantic" by Colin Robertson // Music Credit: Drew Phillips | Producer: Jordyn Carroll // Release date: May 04, 2026

Over three-quarters of the global population has never lived through a major global energy crisis, such as those of the 1970s. In early 2026, that is about to change as the world faces the largest energy disruption in history, measured by the daily loss of oil output. This crisis won't be evenly distributed but will be felt everywhere – and is guaranteed to have ripple effects we won't see coming. How much oil remains in circulation, and what level of damage has already been inflicted on our global energy infrastructure? In this episode, Nate is joined by oil market analyst Rory Johnston to discuss how the Strait of Hormuz closure has led to the largest oil supply shock in history, and what the exact numbers and cascading effects are. He also breaks down the primary strategies countries will have to use to adapt to energy losses, including resorting to demand destruction, and what the disastrous risks are if shortages are allowed to persist. Rory also explains the lag between the closure, the real world impact of oil not being able to enter global circulation, and the market's response. Ultimately, Rory and Nate explore the impact of this situation on international trust and cooperation, and what that might mean for a global market system predicated on interdependence and free trade.  Who are the energy winners and losers in this war so far, and how are our global leaders accounting for the exponential risks of continued warfare? In what way can average people prepare for the energy shocks soon to ripple out across the globe? And lastly, if we do recover from this scenario, how might we treat these disruptions as a dress rehearsal for a future of lower material throughput by building greater resilience and interconnection at the local level? (Conversation recorded on April 23rd, 2026)     About Rory Johnston: Rory Johnston is a Toronto-based oil market researcher, the founder of Commodity Context, a lecturer at the University of Toronto's Munk School of Global Affairs and Public Policy, host of the Oil Ground Up podcast, as well as a Fellow with both the Canadian Global Affairs Institute and the Payne Institute for Public Policy at the Colorado School of Mines. He is a leading voice on oil market analysis, advising institutional investors, global policy makers, and corporate decision makers.  Prior to founding Commodity Context, Rory led commodity economics research at Scotiabank where he set the bank's energy and metals price forecasts, advised the bank's executives and clients, and sat on the bank's senior credit committee for commodity-exposed sectors.   Show Notes and More   Watch this video episode on YouTube   Want to learn the broad overview of The Great Simplification in 30 minutes? Watch our Animated Movie.   ---   Support The Institute for the Study of Energy and Our Future   Join our Substack newsletter   Join our Hylo channel and connect with other listeners

On this episode of the Energy Security Cubed Podcast, Joe Calnan talks with Eric Miller about the role of energy in CUSMA/USMCA review and how Canadian policymakers should consider the views from Washington. --- Guest: - Eric Miller a CGAI Fellow and the President and CEO of Rideau Potomac Strategy Group - Joe Calnan is VP Energy and Calgary Operations at the Canadian Global Affairs Institute. --- Reading recommendation: - A Gentleman in Moscow, by Amor Towles: https://www.amazon.ca/Gentleman-Moscow-Novel-Amor-Towles/dp/0670026190 --- Interview recording Date: April 27, 2026 // Energy Security Cubed is part of the CGAI Podcast Network. Follow the Canadian Global Affairs Institute on Facebook, Twitter (@CAGlobalAffairs), or on LinkedIn. Head over to our website at www.cgai.ca for more commentary. // Produced by Joe Calnan. Music credits to Drew Phillips.

On this episode of #TheGlobalExchange, Colin Robertson sits down with Sabine Sparwasser and Roger Hilton to discuss Hungary's latest election, populism and Eastern Europe. // Participants' bios: Sabine Sparwasser is a CGAI Fellow, the Dean at Mercator Kolleg für internationale Aufgaben and is a former Ambassador of Germany to Canada. Roger Hilton is a CGAI Fellow and Media Presenter & Research Fellow at GLOBSEC. // Host bio: Colin Robertson is a former diplomat and Senior Advisor to the Canadian Global Affairs Institute. // Reading Recommendations: - "Death and the Penguin" by Andrey Kurkov - "The Museum of Innocence" by Orhan Pamuk // Music Credit: Drew Phillips | Producer: Jordyn Carroll // Release date: April 27, 2026

The Herle Burly was created by Air Quotes Media with support from our presenting sponsor TELUS, as well as CN Rail, Saab Canada, and the Public Service Alliance of Canada.Greetings, you curiouser and curiouser Herle Burly-ites! The way we're thinking about defence in Canada is not the same as it was 5 years ago. 1 year ago. Or even 6 months ago. The wars in Ukraine and Iran have dramatically demonstrated the impact of new technologies. And in February, the Carney government committed more than 80 billion NEW dollars over 5 years to rebuild and rearm our forces. 340 billion in total. It's more than defence spending.  It's a whole new defence industrial strategy. I want to know: How do we spend that money?  What kind of defence capacity do we build?  Who and what are we defending ourselves against? How have war innovations changed thinking about what we produce, or procure? What will our North look like in 10 years?This is just some of what I covered with our guest, David Perry, today. Including ... shockingly ... his opinion that we should be buying American jets! And my debate with him on that.David is making his 2nd appearance with us on the pod. He's the President and CEO of the Canadian Global Affairs Institute, a non-partisan, independent think tank.Thank you for joining us on #TheHerleBurly podcast. Please take a moment to give us a rating and review on iTunes, Spotify, or your favourite podcast app.Watch episodes of The Herle Burly via Air Quotes Media on YouTube.The sponsored ads contained in the podcast are the expressed views of the sponsor and not those of the publisher.

Stijn Schmitz welcomes Rory Johnston to the show. Rory Johnston is Commodity Market Research who specializes in oil and gas. This episode delves into the complex dynamics of the current oil market crisis stemming from the closure of the Strait of Hormuz, exploring the profound implications for global energy supply and geopolitical tensions. Johnston provides a detailed analysis of the current oil market situation, highlighting that approximately 20 million barrels of oil per day typically transit through the Strait of Hormuz, with about 13 million barrels currently disrupted. Despite this massive supply shock, oil prices remain surprisingly low, which Johnston attributes to several factors, including market resilience, slow-moving commodity markets, and complex geopolitical negotiations. The discussion reveals the potential devastating consequences of prolonged strait closure, particularly for developing countries. While advanced economies might absorb price increases, many regions in the global south could experience complete fuel shortages, causing significant economic and humanitarian challenges. Johnston predicts that if the situation continues, demand destruction will become inevitable, potentially forcing prices to astronomical levels. Interestingly, the conversation also explores the nuanced motivations of key players like the United States, Iran, and Israel. Johnston suggests that Iran potentially benefits from prolonging the conflict, while the United States appears increasingly desperate to reach a resolution. He believes the crisis will likely conclude with Iran gaining some recognized control over the Strait of Hormuz. Johnston’s base case scenario anticipates the strait potentially reopening by mid-May, but warns that the market will require months to rebalance. The cumulative oil supply loss could reach over 1.2 billion barrels, fundamentally altering the global oil market’s dynamics. He emphasizes that what was previously an oversupplied market will likely transform into a tighter, potentially higher-priced environment. Timestamps: 00:00:00 – Introduction 00:00:48 – Strait of Hormuz Basics 00:01:55 – Supply Rerouting Efforts 00:02:57 – Total Supply Losses 00:06:09 – Replacing Lost Production 00:08:46 – Demand Destruction Scenario 00:11:15 – Price Reaction Analysis 00:19:23 – Trump’s Market Interventions 00:23:43 – US Treasury Intervention? 00:25:24 – Regional Shortage Timelines 00:30:41 – Global South Impacts 00:32:20 – War Incentives Discussion 00:41:40 – Iran, Trump, & Israel 00:46:11 – Base Case Outlook 00:51:56 – Refinery Fire Concerns 00:55:54 – Wrap Up Guest Links: Substack: https://www.commoditycontext.com/ X: https://x.com/Rory_Johnston Rory Johnston is a Toronto-based oil market researcher, the founder of Commodity Context, a lecturer at the University of Toronto's Munk School of Global Affairs and Public Policy, host of the Oil Ground Up podcast, as well as a Fellow with both the Canadian Global Affairs Institute and the Payne Institute for Public Policy at the Colorado School of Mines. He is a leading voice on oil market analysis, advising institutional investors, global policy makers, and corporate decision makers. His views are regularly quoted in major international media including the Financial Times, New York Times, Wall Street Journal, Bloomberg News, Reuters, BNN Bloomberg, CBC, and Financial Post, and he frequently appears on numerous market and industry podcasts (e.g., Bloomberg's Odd Lots, Hidden Forces, etc.). Prior to founding Commodity Context, Rory led commodity economics research at Scotiabank where he set the bank's energy and metals price forecasts, advised the bank's executives and clients, and sat on the bank's senior credit committee for commodity-exposed sectors.

On this special episode of the Energy Security Cubed Podcast, we feature a webinar focused on the role of Canada in the current energy crisis. For the intro, Joe unpacks the meaning of "Energy Superpower" and whether Canada should aim for this goal. --- Guests: - Kevin Birn is a Vice President, leads the Center of Emissions Excellence, and also serves as the Chief Analyst for Canadian Oil Markets at S&P Global Commodity Insights - Monica Gattinger is the Chair of Positive Energy and the University of Ottawa - Kelly Ogle is a Director of the Canadian Global Affairs Institute. - Joe Calnan is VP Energy and Calgary Operations at the Canadian Global Affairs Institute. Reading recommendation: --- Interview recording Date: April 10, 2026 // Energy Security Cubed is part of the CGAI Podcast Network. Follow the Canadian Global Affairs Institute on Facebook, Twitter (@CAGlobalAffairs), or on LinkedIn. Head over to our website at www.cgai.ca for more commentary. // Produced by Joe Calnan. Music credits to Drew Phillips.

Greg Brady talked to Charlotte Duval-Lantoine, Fellow at the Canadian Global Affairs Institute, about how Canada's military recruitment is rebounding but the overall force is still well below where it's supposed to be Learn more about your ad choices. Visit megaphone.fm/adchoices

On this episode of #TheGlobalExchange, Colin Robertson sits down with Michael Pearson to discuss his latest book, "Private Letters, Public Matters: The Family Correspondence of Lester B Pearson", which looks at the letters between his grandfather, former Prime Minister Lester B. Pearson and his father, Diplomat Geoffrey Pearson. // Participants' bios: Michael Pearson is the grandson of former Prime Minister Lester B. Pearson and author of Private Letters, Public Matters // Host bio: Colin Robertson is a former diplomat and Senior Advisor to the Canadian Global Affairs Institute. // Reading Recommendations: - "Private Letters, Public Matters: The Family Correspondence of Lester B Pearson" by Michael Pearson - "The Innocent Canadian" by John Delacourt // Music Credit: Drew Phillips | Producer: Jordyn Carroll // Release date: April 20, 2026

On this episode of the Energy Security Cubed Podcast, Sara Vakhshouri joins Joe Calnan to unpack why disruption to the Strait of Hormuz has global economic and security consequences beyond just energy. --- Guest: Sara Vakhshouri a CGAI Fellow and the Founder of SVB Energy International Joe Calnan is VP Energy and Calgary Operations at the Canadian Global Affairs Institute. Reading recommendation: --- Interview recording Date: April 2, 2026 // Energy Security Cubed is part of the CGAI Podcast Network. Follow the Canadian Global Affairs Institute on Facebook, Twitter (@CAGlobalAffairs), or on LinkedIn. Head over to our website at www.cgai.ca for more commentary. // Produced by Joe Calnan. Music credits to Drew Phillips.

On this episode of #TheGlobalExchange, Colin Robertson sits down with The Honourable Peter MacKay, The Honourable Jean Charest and Gary Doer to talk about Mark Carney's first year as the Prime Minister of Canada. // Participants' bios: The Honourable Peter MacKay is the former Minister of Defence, Minister of Foreign Affairs, Minister of Justice and Attorney Governor General of Canada The Honourable Jean Charest is the former Deputy Prime Minister and 29th Premier of Quebec Gary Doer is the former Canadian Ambassador to the United States and 20th Premier of Manitoba // Host bio: Colin Robertson is a former diplomat and Senior Advisor to the Canadian Global Affairs Institute. // Reading Recommendations: - "Breaking Point" by Darrell Bricker and John Ibbitson - "The Prime Ministers: Canada's Leaders and the Nation They Shaped" by J.D.M. Stewart - "De Gaulle Une Vie" by Jean-Luc Barré // Music Credit: Drew Phillips | Producer: Jordyn Carroll // Release date: April 13, 2026

Rory Johnston is a Toronto-based oil market researcher, the founder of Commodity Context, a lecturer at the University of Toronto's Munk School of Global Affairs and Public Policy, as well as a Fellow with both the Canadian Global Affairs Institute and the Payne Institute for Public Policy at the Colorado School of Mines. Prior to founding Commodity Context, Rory led commodity economics research at Scotiabank. In this podcast, we discuss: The Billion-Barrel Supply Gap Physical Insurance and Pipelines The "Toll Booth" Strait Sanctions as a Safety Valve Wealth vs. Shortages China's Strategic Resilience The "Unilateral Taco" Scenario Long-Term Energy Optionality 

On this episode of the Energy Security Cubed Podcast, Charles St-Arnaud joins Joe Calnan to unpack the economic consequences of the ongoing energy crisis for Canada. For the intro, Joe explores various oil price benchmarks and what they mean. --- Guest: Charles St-Arnaud is the Chief Economist of Servus Credit Union Joe Calnan is VP Energy and Calgary Operations at the Canadian Global Affairs Institute. Reading recommendation: "Why Nations Fail: The Origins of Power, Prosperity, and Poverty", by Daron Acemoglu and Jakmes Robinson: https://www.amazon.ca/Why-Nations-Fail-Origins-Prosperity/dp/0307719227 --- Interview recording Date: April 2, 2026 // Energy Security Cubed is part of the CGAI Podcast Network. Follow the Canadian Global Affairs Institute on Facebook, Twitter (@CAGlobalAffairs), or on LinkedIn. Head over to our website at www.cgai.ca for more commentary. // Produced by Joe Calnan. Music credits to Drew Phillips.

On this episode of #TheGlobalExchange, Colin Robertson sits down with Peter Jones to discuss the ongoing components influencing Canada's relationship with the U.S. and what the future of trade might look like. // Participants' bios: Peter Jones is a professor in the Graduate School of Public and International Affairs at the University of Ottawa. // Host bio: Colin Robertson is a former diplomat and Senior Advisor to the Canadian Global Affairs Institute. // Reading Recommendations: - Peter Jones in The Walrus Magazine - "The Company: The Rise And Fall Of The Hudson's Bay Empire" by Stephen Bown // Music Credit: Drew Phillips | Producer: Jordyn Carroll // Recording Date: March 30, 2026 Release date: April 07, 2026

On this special episode of the Energy Security Cubed Podcast, Kelly Ogle and Joe Calnan discuss Canada's representation at CERAWeek, their oil price predictions for April, updates on the Iran war, and more. // Donate to CGAI here: buy.stripe.com/28o29deEmeCH1ck8ww // - Kelly Ogle is a member of the Board of Directors of the Canadian Global Affairs Institute - Joe Calnan is VP, Energy and Calgary Operations at the Canadian Global Affairs Institute. // Recording date: March 31, 2026 // Energy Security Cubed is part of the CGAI Podcast Network. Follow the Canadian Global Affairs Institute on Facebook, Twitter (@CAGlobalAffairs), or on LinkedIn. Head over to our website at www.cgai.ca for more commentary. // Produced by Joe Calnan. Music credits to Drew Phillips.

On this episode of #TheGlobalExchange, Colin Robertson sits down with Adam Chapnick, Raymond Blake and Ian Brodie to discuss Mark Carney's first year as Prime Minister. // Participants' bios: Adam Chapnick is Professor of Defence Studies at the Canadian Forces College in Toronto and co-author of Canada First, Not Canada Alone: A History of Canadian Foreign Policy Ian Brodie is Professor of Political Science at the University of Calgary and Program Director for CGAI. Raymond Blake is Professor of History at the University of Regina and Winner of the 2025 Shaughnessy Cohen Prize for Political Writing // Host bio: Colin Robertson is a former diplomat and Senior Advisor to the Canadian Global Affairs Institute. // Reading Recommendations: - "Ice War Diplomat" by Gary Smith - "Inside Snc-lavalin" by Lawrence Stevenson - "Renegotiating the Bargain" by Rob Currie-Wood // Music Credit: Drew Phillips | Producer: Jordyn Carroll // Recording Date: March 19, 2026 Release date: March 30, 2026

On this episode of the Energy Security Cubed Podcast, we feature a re-run where Kelly Ogle and Joe Calnan interview Greg Brew about the Trump Administration's possible stance toward Iran and the wider Middle East. For the intro, Joe unpacks the meaning of attacks on energy infrastructure in the Persian Gulf and the discussions at CERAWeek. --- Guest: Greg Brew is a CGAI Fellow, an analyst with Eurasia Group's Energy, Climate & Resources team focusing on the geopolitics of oil and gas, and Eurasia Group's country analyst for Iran. Hosts: Kelly Ogle is a Director of the Canadian Global Affairs Institute. Joe Calnan is VP Energy and Calgary Operations at the Canadian Global Affairs Institute. Reading recommendation: "The Great Transformation: China's Road from Revolution to Reform" by Odd Arne Westad and Chen Jian: https://www.amazon.ca/Great-Transformation-Chinas-Revolution-Reform/dp/0300267088 --- Interview recording Date: January 23, 2025 // Energy Security Cubed is part of the CGAI Podcast Network. Follow the Canadian Global Affairs Institute on Facebook, Twitter (@CAGlobalAffairs), or on LinkedIn. Head over to our website at www.cgai.ca for more commentary. // Produced by Joe Calnan. Music credits to Drew Phillips.

In the immediate aftermath of the US-Israel strikes on Iran, Prime Minister Mark Carney came out with a declaration of support, which later developed into what he calls a 'regretful' position due to the lack of international order. So what exactly is Canada's position? And what would military involvement mean for Canada? Host Maria Kestane speaks with Dr. Alexander Salt, a post-doctoral fellow at the Canadian Global Affairs Institute to discuss Carney's developing messages towards the conflict in Iran, and how Canada could be dragged into the war as a result of Trump's 'plans'. We love feedback at The Big Story, as well as suggestions for future episodes. You can find us:Through email at hello@thebigstorypodcast.ca Or @thebigstory.bsky.social on Bluesky

The Prime Minister is pledging to buy 70 percent of the country's military gear here at home within a decade. That's promising news for Canadian companies like Kraken Robotics. But experts say the change won't be easy. We speak with Bernard Mills, the executive vice-president of defence of Kraken Robotics, a marine technology company founded in Newfoundland, David Perry, president of the Canadian Global Affairs Institute think tank, and Erin O'Toole, the former leader of the Conservative Party of Canada, a veteran of the Canadian armed forces, and a distinguished fellow specializing in international trade at the Hudson Institute.

Last week the U.S. Treasury Secretary Scott Bessent issued a very public warning to Prime Minister Mark Carney. At the centre of that warning is the USMCA trade deal, which kept Trump's tariffs from unleashing even deeper damage to the Canadian economy. A mandatory review of the US-Mexico-Canada pact is kicking-off now. It has turned into a high stakes negotiation, with the U.S. poised to squeeze Canada and Mexico and to use the negotiation itself as leverage to advance the administration's interests. Today, trade expert Eric Miller is back to talk about where the trade talks are headed, what the Americans are hoping for, and what would happen if the deal got ripped up altogether. Miller is the president of Rideau Potomac Strategy Group and a fellow at the Canadian Global Affairs Institute. For transcripts of Front Burner, please visit: https://www.cbc.ca/radio/frontburner/transcripts

Rory Johnston is a Toronto-based oil market researcher, the founder of Commodity Context, a lecturer at the University of Toronto's Munk School of Global Affairs and Public Policy, as well as a Fellow with both the Canadian Global Affairs Institute and the Payne Institute for Public Policy at the Colorado School of Mines. Prior to founding Commodity Context, Rory led commodity economics research at Scotiabank. In this podcast, we discuss:   Trump's Bullish Paradox   Importance of China's SPR Why OPEC+ Hiked Production The "Oil on Water" Overhang   Venezuela and Iran 2026 Outlook   US Shale's H2 Roll-over Long term demand outlook