Energy
Trump’s promises should prompt major rethink of Canadian energy policy

From the Fraser Institute
By Elmira Aliakbari and Julio Mejía
In three weeks, the United States will have a new president. And despite Donald Trump’s pledge to “unleash” the American oil and gas sector by cutting red tape and accelerating permit approvals, the Trudeau government remains committed to constraining Canada’s oil and gas industry. The result? More investment to the U.S. and less to Canada. To prevent Canada from falling further behind the U.S., the government must reverse harmful policies that drive investors away.
Even before Trump’s victory, Canada’s oil and gas sector was less attractive for investment compared to the U.S. According to a 2023 survey of oil and gas investors, 68 per cent of respondents said uncertainty about environmental regulations deters investment in Canada’s oil and gas sector compared to 41 per cent in the U.S. And 54 per cent said Canada’s regulatory duplication and inconsistencies deter investment compared to only 34 per cent for the U.S.
This negative perception reflects years of policy decisions that have consistently undermined Canada’s oil and gas industry. To name a few.
In 2016, just one year after taking office, the Trudeau government cancelled the Northern Gateway pipeline from Alberta to British Columbia’s coast. The $7.9 billion project, previously approved by the Harper government, would have expanded market access and boosted exports to Asia.
In 2017, the TransCanada energy company withdrew its application for the Energy East and Eastern Mainline pipelines from Alberta and Saskatchewan to the east coast, which would have expanded access to European markets. The projects became economically unfeasible after the Trudeau government required the company to account for greenhouse gas emissions from oil production and consumption—not just transportation, a requirement that was never part of prior environmental assessments. (Incidentally, that same year Prime Minister Trudeau vowed to “phase out” fossil fuels in Canada.)
In 2019, the Trudeau government enacted Bill C-69, which introduced subjective criteria—including the “social impact” and “gender implications” of projects—into the evaluation of major energy projects, creating significant uncertainty. That same year, the government passed Bill C-48, which bans large oil tankers from B.C.’s northern coast, further limiting access to Asian markets.
In 2023, the Trudeau government announced plans to cap oil and gas sector emissions at 35 per cent below 2019 levels by 2030—while leaving other sectors in the economy untouched. This will likely force energy producers to limit production. And the government’s new methane regulations and rules, which require fuel producers to reduce emissions, have added to the sector’s costs and regulatory challenges.
Predictably, these policy decisions have taken a toll. Investment in the oil and gas sector plummeted over the last decade, from $84.0 billion in 2014 to $37.2 billion in 2023 (inflation adjusted)—a 56 per cent drop. Less investment means less money to develop new energy projects, infrastructure and technologies, and consequently fewer jobs and less economic opportunity for Canadians across the country, especially in Alberta, which has been a destination for workers seeking high wages and more opportunity.
Now in 2025, Trump wants to attract investment by streamlining processes and cutting costs while Canada drives investment away with restrictive and costly regulations. If Ottawa continues on this path, Canada’s leading industry—and largest source of exports—will lose more ground to the U.S. To restore our competitiveness and attract investment, the federal government must rethink its approach to the energy sector and scrap the harmful policies that will hurt Canadians today and in the future.
Elmira Aliakbari
2025 Federal Election
MORE OF THE SAME: Mark Carney Admits He Will Not Repeal the Liberal’s Bill C-69 – The ‘No Pipelines’ Bill

From EnergyNow.Ca
Mark Carney on Tuesday explicitly stated the Liberals will not repeal their controversial Bill C-69, legislation that prevents new pipelines being built.
Carney has been campaigning on boosting the economy and the “need to act forcefully” against President Donald Trump and his tariffs by harvesting Canada’s wealth of natural resources — until it all fell flat around him when he admitted he actually had no intention to build pipelines at all.
When a reporter asked Carney how he plans to maintain Bill C-69 while simultaneously building infrastructure in Canada, Carney replied, “we do not plan to repeal Bill C-69.”
“What we have said, formally at a First Ministers meeting, is that we will move for projects of national interest, to remove duplication in terms of environmental assessments and other approvals, and we will follow the principle of ‘one project, one approval,’ to move forward from that.”
“What’s essential is to work at this time of crisis, to come together as a nation, all levels of government, to focus on those projects that are going to make material differences to our country, to Canadian workers, to our future.”
“The federal government is looking to lead with that, by saying we will accept provincial environmental assessments, for example clean energy projects or conventional energy projects, there’s many others that could be there.”
“We will always ensure these projects move forward in partnership with First Nations.”
Tory leader Pierre Poilievre was quick to respond to Carney’s admission that he has no intention to build new pipelines. “This Liberal law blocked BILLIONS of dollars of investment in oil & gas projects, pipelines, LNG plants, mines, and so much more — all of which would create powerful paychecks for our people,” wrote Poilievre on X.
“A fourth Liberal term will block even more and keep us reliant on the US,” he wrote, urging people to vote Conservative.
Alberta
Energy sector will fuel Alberta economy and Canada’s exports for many years to come

From the Fraser Institute
By any measure, Alberta is an energy powerhouse—within Canada, but also on a global scale. In 2023, it produced 85 per cent of Canada’s oil and three-fifths of the country’s natural gas. Most of Canada’s oil reserves are in Alberta, along with a majority of natural gas reserves. Alberta is the beating heart of the Canadian energy economy. And energy, in turn, accounts for one-quarter of Canada’s international exports.
Consider some key facts about the province’s energy landscape, as noted in the Alberta Energy Regulator’s (AER) 2023 annual report. Oil and natural gas production continued to rise (on a volume basis) in 2023, on the heels of steady increases over the preceding half decade. However, the dollar value of Alberta’s oil and gas production fell in 2023, as the surging prices recorded in 2022 following Russia’s invasion of Ukraine retreated. Capital spending in the province’s energy sector reached $30 billion in 2023, making it the leading driver of private-sector investment. And completion of the Trans Mountain pipeline expansion project has opened new offshore export avenues for Canada’s oil industry and should boost Alberta’s energy production and exports going forward.
In a world striving to address climate change, Alberta’s hydrocarbon-heavy energy sector faces challenges. At some point, the world may start to consume less oil and, later, less natural gas (in absolute terms). But such “peak” consumption hasn’t arrived yet, nor does it appear imminent. While the demand for certain refined petroleum products is trending down in some advanced economies, particularly in Europe, we should take a broader global perspective when assessing energy demand and supply trends.
Looking at the worldwide picture, Goldman Sachs’ 2024 global energy forecast predicts that “oil usage will increase through 2034” thanks to strong demand in emerging markets and growing production of petrochemicals that depend on oil as the principal feedstock. Global demand for natural gas (including LNG) will also continue to increase, particularly since natural gas is the least carbon-intensive fossil fuel and more of it is being traded in the form of liquefied natural gas (LNG).
Against this backdrop, there are reasons to be optimistic about the prospects for Alberta’s energy sector, particularly if the federal government dials back some of the economically destructive energy and climate policies adopted by the last government. According to the AER’s “base case” forecast, overall energy output will expand over the next 10 years. Oilsands output is projected to grow modestly; natural gas production will also rise, in part due to greater demand for Alberta’s upstream gas from LNG operators in British Columbia.
The AER’s forecast also points to a positive trajectory for capital spending across the province’s energy sector. The agency sees annual investment rising from almost $30 billion to $40 billion by 2033. Most of this takes place in the oil and gas industry, but “emerging” energy resources and projects aimed at climate mitigation are expected to represent a bigger slice of energy-related capital spending going forward.
Like many other oil and gas producing jurisdictions, Alberta must navigate the bumpy journey to a lower-carbon future. But the world is set to remain dependent on fossil fuels for decades to come. This suggests the energy sector will continue to underpin not only the Alberta economy but also Canada’s export portfolio for the foreseeable future.
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