Prime Minister Mark Carney appears to be re-evaluating his stance on pipelines as the centerpiece of Canada’s strategy to address a “crisis” he blames on growing trade tensions with the US.
During an interview on the popular Quebec talk show Tout le monde en parle, Carney acknowledged that while major projects are necessary for economic stability, pipelines may or may not be the immediate priority.
“We must choose a few projects, a few big projects. Not necessarily pipelines, but maybe pipelines, we’ll see,” he said in French on the program. This shift came after host Guy Lepage pressed Carney on his earlier pledge to make Canada an energy superpower that could better resist what Carney calls aggressive trade policies from President Donald Trump’s administration.
Sponsored · PTX Metals Inc.
Carney cited the need to reduce Canada’s reliance on foreign oil, though he overstated the percentage of foreign imports in Quebec, saying it was 70% when experts place the figure closer to 40%.
The leader’s comments on energy policy have fluctuated in recent months. Earlier in the year, he suggested his government might employ “emergency powers” to fast-track energy infrastructure projects, pledging that Canada would “build some new pipelines for conventional energy.” Shortly thereafter, he indicated in French that he would not force pipelines on any unwilling province, a statement clarified by his campaign to mean that provinces would be consulted before advancing any project.
Carney argued that Canada should also invest in carbon capture technology, hoping to align the national energy sector with environmental goals and bolster competitiveness in markets such as the European Union. At a subsequent meeting with provincial leaders, he announced plans to establish a national energy and trade corridor, sparking debate about whether federal money should finance oil and gas pipelines.
Carney himself avoided a definitive answer, remarking that the matter “is not black and white” and left open the possibility of future government participation.
Information for this story was found via National Post and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
2 Responses
We know where you bias lies E R Velasco.
When Carney says national energy and trade corridor he doesn’t mean pipeline btw. Energy infrastructure is NOT a synonym for pipeline. Agreeing to build some pipelines is a moderate and reasonable approach, and saying he won’t shove it down the throats of an unwilling province is also a fair and measured approach. It is called collaboration and leadership. None of this is waffling or “changing his tune” as your misleading headline suggests.