Carney's Fossil Fuel Gamble Threatens Canadian Taxpayers

Canadian Prime Minister Mark Carney has taken Canada's energy policy in a different direction since taking office in January 2025. Instead of reducing emissions, he is focusing on increasing fossil fuel exports. This shift was influenced by the trade war with the US and tensions between Ottawa and Alberta, which is responsible for three-quarters of Canadian oil and gas production.

The new markets that Canada is relying on for export growth may not buy imported oil and gas forever. They might reduce their consumption sooner than anticipated, making taxpayer investments in infrastructure a bad bet for Canadian taxpayers.

Pouring money into export infrastructure largely benefits foreign companies, rather than de-risking the economy. This risks swapping dependence on the US for other uncertain foreign markets.