Economy
Ottawa must end disastrous energy policies to keep pace with U.S.

From the Fraser Institute
By Julio Mejía and Elmira Aliakbari
This negative perception of Canada’s regulatory environment is hardly a surprise, given Ottawa’s policies over the last decade.
During last night’s Liberal leadership debate, there was a lot of talk about Donald Trump. But whatever your views on President Trump, one thing is certain—he’s revitalized his country’s energy sector. Through a set of executive orders, Trump instructed agency heads to identify “actions that impose an undue burden on the identification, development, or use of domestic energy source” and “exercise any lawful emergency authorities available” to facilitate energy production and transportation. In other words, let’s become an energy superpower.
Clearly, to avoid falling further behind, Canada must swiftly end policies that unduly restrict oil and gas production and discourage investment. Change can’t come soon enough.
Before Trump’s inauguration, red tape was already hindering Canada’s oil and gas sector, which was less attractive for investment compared to the United States. According to a survey conducted in 2023, , 68 per cent of oil and gas investors said uncertainty about environmental regulations deterred investment in Canada’s oil and gas sector compared to 41 per cent in the U.S. Similarly, 54 per cent said Canada’s regulatory duplication and inconsistencies deterred investment compared to only 34 per cent for the U.S. And 55 per cent of respondents said that uncertainty regarding the enforcement of existing regulations in Canada deterred investment compared to only 37 per cent of respondents for the U.S.
This negative perception of Canada’s regulatory environment is hardly a surprise, given Ottawa’s policies over the last decade. For example, one year after taking office, in 2016 the Trudeau government cancelled the previously approved $7.9 billion Northern Gateway pipeline, which was designed to transport crude oil from Alberta to British Columbia’s coast, expanding Canada’s access to Asian markets.
In 2017, Prime Minister Trudeau undermined the long-term confidence in the sector by vowing to “phase out” fossil fuels in Canada.
In 2019, the Trudeau government passed Bill C-69, introducing subjective criteria including the “gender implications” of energy investment into the evaluation process of major energy projects, causing massive uncertainty around the development of new projects.
Also that year, the government enacted Bill C-48, which bans large oil tankers from B.C.’s northern coast, limiting Canadian exports to Asia.
In 2023, the Trudeau government announced plans to cap greenhouse gas (GHG) emissions from the oil and gas sector at 35 per cent below 2019 levels by 2030—an arbitrary measure considering GHG emissions from other sectors in the economy were left untouched. According to a recent report, to comply with the cap, Canadian firms must severely curtail oil and gas production. As one might expect, these policies come at a cost. Over the last decade, investment in Canada’s oil and gas sector has collapsed by 56 per cent, from $84.0 billion in 2014 to $37.2 billion in 2023 (inflation adjusted). Less investment means less funding for new energy projects, technologies and infrastructure, and fewer job opportunities and economic opportunities for Canadians nationwide.
The energy gap between the U.S. and Canada is set to grow wider during President Trump’s second term. While Trump wants to attract investment to the American oil and gas industry by streamlining processes and cutting costs, Canada is driving investment away with costly and often arbitrary measures. If Ottawa continues on its current path, Canada’s leading industry—and its largest source of exports—will lose more ground to the U.S. When Parliament reconvenes, policymakers must move quickly to eliminate harmful policies hindering our energy sector.
Business
From ‘Elbows Up’ To ‘Thumbs Up’

From the National Citizens Coalition
National Citizens Coalition Slams Carney-Trump Meeting as ‘Insulting’ About-Face After Fear-Mongering Campaign Rhetoric
CANADA – From “elbows up” to thumbs up in record time.
The National Citizens Coalition (NCC) condemns Prime Minister Mark Carney’s cozy meeting with U.S. President Donald Trump, calling it a stark contradiction of the anti-American rhetoric that fueled Carney’s election campaign. The NCC asserts that Carney’s deferential White House visit undermines the combative pledges made to Canadians, revealing how the Liberals leveraged Trump’s tacit endorsement and the ‘Rally Around the Flag effect’ to secure their minority government.
During the April 2025 federal election, Carney and the Liberal Party campaigned on a platform of staunch resistance to Trump’s trade war and his provocative “51st state” rhetoric, inflaming tensions by warning that Trump sought to “break us so America can own us.” This messaging galvanized voters on the left, particularly the collapsing NDP base and many over-55s, with polls showing a surge in Liberal support driven entirely by anti-Trump sentiment. Yet, just days after securing victory, Carney’s decision to behave in stark contrast to such rhetoric betrays the trust of Canadians who believed in his hardline stance, and in particular, betrays the young Canadians who voted in defiance of “51st state” nonsense and American election interference, but who also had major additional priorities that have been ignored by a decade of Liberal ruin.
“Mark Carney sold Canadians a story of aggressive defiance against Trump, but this meeting proves he’s more interested in reaping the rewards than holding convictions,” says NCC President Peter Coleman. “Carney’s campaign leaned heavily on fearmongering about Trump, yet here he is shaking hands, laughing, and all but sitting idly by as he’s insulted, with the very man he claimed threatened our sovereignty. This isn’t leadership—it’s hypocrisy.”
The NCC contends that Trump’s public comments, including his refusal to rule out making Canada the 51st state, however flippant the bargaining tactic, were strategically exploited by the Liberals to consolidate left-leaning voters fearful of Conservative leader Pierre Poilievre’s perceived Trump-like style.
“Trump’s shadow loomed large over this election, and the Liberals milked it for every vote,” Coleman adds. “Canadians deserve to know if Carney’s tough talk was just a ploy to ride anti-Trump sentiment to power, only to cozy up to him afterward. This smells like a backroom deal between the two, that benefited the Liberals at the expense of much-needed hope and change, and honest and ethical conversations about the need for renewed pride in who we are, and a return to Canadian sovereignty.”
The NCC demands Carney explain how this meeting aligns with his fear-mongering on the campaign trail. Canadians deserve transparency about more of Carney’s true motives, which also may not match his statements and behaviours to date.
The National Citizens Coalition calls on all Canadians to hold Carney accountable for this cynical about-face. “We will not stand idly by while Carney exploits sovereignty concerns and election interference for political points,” Coleman concludes. “If this level of decorum had been any kind of consistent, if he hadn’t just run a fearful, pandemic-style campaign that robbed so many Canadians of hope and further inflamed alienation in the West, that’s one thing. But it’s time to reclaim the Canadian Dream from low-cunning leaders who say one thing and do another. He may be better house-broken than Trudeau, and on that, there is room for faint praise. But who really is Mark Carney? Why did the legacy media seem so disinterested in vetting him? And what does he really believe?”
About the National Citizens Coalition: Founded in 1967, the National Citizens Coalition is Canada’s pioneer non-profit conservative organization, dedicated to championing common-sense values, defending taxpayer interests, and promoting a strong, proud, and free Canada.
Business
Carney must work to grow Canada’s economic pie

From the Fraser Institute
After scoring a narrow victory in the federal election, Prime Minister Mark Carney and his incoming cabinet will confront a host of pressing issues. Dealing with the erratic and sometimes menacing Donald Trump—and navigating the multi-front tariff war the U.S. president has launched—is undoubtedly job one. Meanwhile, the refreshed Liberal government will face an enfeebled Canadian economy that may be on the cusp of a recession triggered by Trump’s mad-cap trade policies and dwindling economic growth across much of the world. Finding ways to implement—and pay for—the grab-bag of costly promises in the Liberal Party’s election platform will also tax the abilities of Carney and his ministers.
Beyond the immediate imperative of managing relations with the United States, the top priority for the Carney team must be creating the conditions for stronger economic growth at home. Under Justin Trudeau, the Liberal government was preoccupied with social policy, income redistribution, climate change and Indigenous reconciliation. As former finance minister Bill Morneau has written, Trudeau displayed zero interest in bolstering the underlying foundations of Canadian prosperity, which languished on his watch. Hopefully, Carney’s administration won’t make the same mistake.
Unfortunately, team Carney starts with a weak economic hand. Canada has been losing global market share in almost all of our export-oriented industries. Productivity is stagnant, and business investment is insufficient even to offset ongoing deprecation of the “capital stock”—the buildings, equipment and machinery owned and used by firms across Canada. Net foreign direct investment flows have turned sharply negative, with Canadian firms investing more abroad than foreign companies invest in Canada—a clear sign of our waning competitiveness.
Even more worryingly, Canada’s real gross domestic product (GDP) per person—the total income that households and businesses generate, divided by the population—shrank by 1 per cent between 2018 and 2023, before dipping again last year. During this time period, we’ve been near the bottom among 38 advanced countries on this basic metric of economic success and living standards.
In fact, Canada’s economy today is scarcely larger than it was a decade ago (after adjusting for population growth and inflation). Comparisons with the U.S. make for particularly painful reading. Between the first quarter of 2016 and the fourth quarter of last year, inflation-adjusted per-person economic output grew by just 2.5 per cent in Canada compared to 18.7 per cent in the U.S. This speaks both to the economic failures of the Trudeau era and the urgent need for Ottawa to change course.
So, what to do?
Turning around Canada’s lacklustre economy will require a sharp turn away from the policies of the Trudeau era. Instead of serially expanding the size, cost and administrative reach of the government sector, federal policymakers should look to kick-start business investment, improve Canada’s global competitive position, accelerate business innovation, and scale back the regulatory chokehold that has been stifling business growth in key sectors of our economy including natural resources, manufacturing and infrastructure development. Progress in these areas will require a significant overhaul of Canada’s creaky growth-inhibiting tax system, a commitment to smarter and more efficient regulation across the government sector, and more disciplined and thoughtful management of Ottawa’s $550 billion in annual spending.
Is the Carney government up to the task? Its first budget, likely to be tabled within the next few weeks, should provide some initial clues.
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