Farewell Jonathan, Hello Tim
Carney's new Cabinet
In a previous newsletter, we shared the view that "Carney isn’t Trudeau".
You can read it here: https://www.whyalbertanow.ca/i/162568666/carney-isnt-trudeau
"Carney was Trudeau's economic advisor!" was the view I've heard from multiple people!
While it's understandable some people may have concerns about Carney continuing on many of Trudeau's disastrous economic policies, today, I'd like to restate my belief that "Carney isn’t Trudeau".
Trudeau is a stubborn son of a gun
For a starter, I think we can all agree that Trudeau can be stubborn.
Even a highly left leaning, or should we simply call it, a left bias media "The Walrus" published an article with the headline "Justin Trudeau Might Be the Only One Who Still Believes in Justin Trudeau" talked about the stubbornness of Trudeau.
When both Conservatives and Liberals can both agree on something, that says a lot.
What does that mean?
To me, it means that just because Carney was once Trudeau's economic advisor, it doesn't mean Trudeau would listen to Carney.
It can be inspiring as a leader to have convictions.
I believe Trudeau really believed in many of his views.
The problem though is in order to be a leader, one needs followers.
That's the delicate dance for a leader:
To inspire people by sharing your convictions, while being a great listener to the people's needs.
Otherwise, one ends up on an island all by themselves.
He can have all the convictions, with few willing to follow and support him.
That was what sealed his fate in politics.
About Jonathan Wilkinson
The tension between Trudeau's Government and Alberta over the Oil & Gas industry was clear.
Just look at the language chosen between Johnathan Wilkinson, the previous Canada's Natural Resources Minister and the Alberta Energy Minister Brian Jean regarding the open letter from 14 CEOs at Oil & Gas companies
Wilkinson: It is disappointing to see the CEOs of major Canadian energy companies seemingly looking to profit from actions being taken south of the border — to the long-term detriment of your shareholders and Canadians generally . . . After spending millions of dollars over the past few years speaking to your sector’s commitment to environmental sustainability, you arrive here.
Jean: It’s politics... I know Wilkinson. This is so unlike him. Why would you insult the largest providers of tax dollars in the entire country, of jobs?
What a load of crap.
https://calgaryherald.com/business/jonathan-wilkinson-oilpatch-letter-energy-policies
Eric Nuttall, a Partner and Senior Portfolio Manager at Ninepoint Partners with $8 Billion Canadian dollars under management also has this to say about Wilkinson:
Nutall describes Wilkinson as occasionally “patronizing” towards the sector, noting past statements about peaking demand for oil and a global demand for natural gas set to decline by 2030, which Nuttall says is wrong. Wilkinson, he argues, does not present a positive message to the sector.
Farewell Jonathan, Hello Tim
Before Carney's new cabinet was announced today, in the same article, Nuttall said he believes Carney will likely keep Johnathan Wilkinson in place as natural resources minister.
As it turns out, Carney sent Wilkinson packing.
Carney appointed Tim Hodgson to replace Wilkinson.
Hodgson, previously, a CEO at Goldman Sachs Canada, later as a Special Advisor to the then Governor Mark Carney of Bank of Canada.
More recently, he was the chairperson at Hydro One Limited, a utility company serving Ontario.
Having someone who has the background and experience in energy and finance industry to be the Natural Resources Minister, I wonder what that leadership could look like?
You might wonder: Who is Hodgson?
Calgary Herald published a piece on him:
Hodgson is far from a household name in politics, but his resume reads like a checklist for economic leadership. For those who know him as an intense, hyper-prepared and intellectual banker with an ability to get things done, his decision to step into the political arena is a welcome departure.
Walied Soliman, the Canadian chair of law firm Norton Rose Fulbright and longtime supporter of Conservative politicians in Canada, lauded Hodgson for taking time “at the height of his career for public service.”
“Canadians are going to quickly learn how non-partisan, professional and high integrity a person Tim really is,” Soliman said.
‘Businessman First’
Carney isn't Trudeau
The appointment of Hodgson shows that Carney isn't Trudeau.
As we're looking to transition this newsletter to a new name, I feel it's nice to go back to the roots of Why Alberta Now, writing about Alberta after mostly writing about the macroeconomics.
The future of Alberta is looking much better than the past decade.
Just because the Conservatives are friends with the Oil & Gas industry, it doesn't mean Carney will be as anti Oil & Gas as Trudeau was.
All Alberta asks for is someone with a friendlier face at the Federal government.
Carney isn't Trudeau, thank goodness!
What do you think of Alberta under Carney’s government?
I’d love to hear.
Reply and let us know your thoughts.
If you like my work, I invite you to share it with others.
Eric Chang
Edmonton, Alberta
May 13, 2025
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