Carney's Pipeline Gamble Risks Stranding Canadian Taxpayers

Since taking office in January 2025, Canadian Prime Minister Mark Carney has shifted his country's energy policy from reducing emissions to increasing fossil fuel exports. This change was prompted by tensions with the US and Alberta, where relations had become increasingly toxic.

The Canadian economy is under pressure due to the trade war launched by President Donald Trump's administration, which buys over 90 per cent of Canada's crude oil exports. Carney aimed to de-risk Canada from the US market but may be backtracking instead.

Pouring taxpayer money into export infrastructure, largely benefiting foreign companies, does not seem to be a sound investment strategy. The new markets Canada is relying on for export growth will not buy imported oil and gas forever, and they may reduce consumption sooner than expected.