J
Jennifer Stevenson
Vice President & Portfolio Manager focused on global energy at Scotia Global Asset Management (Dynamic Funds), based in Calgary.
2
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Sep 10, 2026
Separating energy truths from narrative
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14:47Jennifer StevensonGUEST
That's what I love about the media sometimes, right, is these big, splashy headline numbers.
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14:57Jennifer StevensonGUEST
I mean, the next biggest number in the world after Venezuela is in Canada.
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15:01Jennifer StevensonGUEST
But to get the 65 billion barrels out, it's like saying we're going to get our 100 billion barrels out in Canada.
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?
Oil producer, global prices: Why Canada is not isolated from energy shocks
11:03
17:45

Armina LagayaHOST
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?
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11:09Jennifer StevensonGUEST
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.
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11:22Jennifer StevensonGUEST
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.
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11:31Jennifer StevensonGUEST
But in the United States, they talk about it a lot when their price for one of their gallons starts with a four.
6 MINS LATER

Armina LagayaHOST
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?
