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Jennifer Stevenson

Vice President & Portfolio Manager focused on global energy at Scotia Global Asset Management (Dynamic Funds), based in Calgary.

Sep 10, 2026

14:45
Will we see that in Trump's lifetime?
14:47
That's what I love about the media sometimes, right, is these big, splashy headline numbers.
14:53
65 billion barrels.
14:54
Well, yeah, that's reserves in the ground.
14:57
I mean, the next biggest number in the world after Venezuela is in Canada.
15:01
But to get the 65 billion barrels out, it's like saying we're going to get our 100 billion barrels out in Canada.
15:07
okay, we have to build infrastructure, build pipelines, drill wells.

8 MINS LATER

22:59
So then what's the investor playbook? With the understanding that you can't give advice to any one particular individual, of course, if your base case is that this goes on longer than the market thinks, oil retains a geopolitical premium, and Canadian producers continue to generate significant excess cash, what should we own? What should we avoid? What should we absolutely not chase?
11:03
But even just the broader historical context, how does this compare to what we're seeing now to what we've seen before? And what can we learn from what happened before?
11:09
Yeah, I mean, we're not at all-time highs, but we're pretty close, right? When the price of gasoline per liter starts with a two, that's high-end territory.
11:20
So that's where we are now.
11:22
I mean, I always find it interesting because in Canada, we feel it and talk about it a lot when it begins with a two.
11:30
Mm-hmm.
11:31
But in the United States, they talk about it a lot when their price for one of their gallons starts with a four.
11:37
Well, $4 US a gallon these days.

6 MINS LATER

17:45
What can you do with all of these factors at play? Like, if you are a consumer or a business, how do you plan for the next few months? How do you take all the information, what we know, what we don't know, and proceed?

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