Canada is producing a lot of oil. That is not the scandal. The scandal is that we should be producing, exporting, upgrading, transporting, and profiting from far more, while Ottawa spent a decade treating one of our greatest national assets like an embarrassing skin condition.
Under Trudeau, Canada did not lack oil. Canada lacked permission. Carney is continuing this.
We had the reserves.
We had the workers.
We had the engineering.
We had global demand.
We had allies who would gladly buy from a stable democratic country instead of dictatorships.
And what did Ottawa do?
It cancelled Northern Gateway. It buried Energy East under regulatory fog. Keystone XL died in the U.S., but Canada’s weak energy posture did not help. Only Trans Mountain finally got finished, late and wildly expensive, after Ottawa turned a private-sector project into a government rescue mission. Reuters notes that in the past decade, several major Canadian pipeline projects were proposed, but only the Trans Mountain expansion was completed.
That is not an energy strategy. That is self-sabotage with a briefing binder.
Yes, Canadian crude output hit records in 2024. Statistics Canada said crude oil and equivalent production reached a fourth straight annual record, up 4.3% in 2024. The Canada Energy Regulator also reported average crude and equivalent production of 5.13 million barrels per day in 2024, rising again in the first half of 2025.
But that actually makes the Liberal failure look worse.
Because the industry succeeded despite Ottawa, not because of it. Like a farmer getting a crop off after the government spent ten years throwing rocks in the combine.
The real damage was not “zero production.” It was strangled potential: less investment, fewer pipelines, weaker market access, bigger discounts, more uncertainty, and fewer nation-building projects. Statistics Canada reported that oil and gas capital outlays fell 55% from 2014 to 2019, then another 36% in 2020. That is what policy hostility does. Capital does not hold a press conference. It just leaves.
And now Carney comes along with the same net-zero priesthood, but with better shoes and central banker vocabulary. He talks about investment, transition, climate finance, and “values,” but the machinery underneath is familiar: regulate, cap, tax, delay, subsidize preferred industries, and pretend prosperity can be spreadsheeted into existence by people who have never had to make payroll in a resource town.
Canada should be an energy superpower. Not as a slogan. As a fact.
We should be building pipelines to tidewater.
We should be expanding LNG.
We should be upgrading more oil here.
We should be supplying allies.
We should be using natural gas, hydro, nuclear, and oil as strategic national strengths.
We should stop apologizing for having what the world needs.
The Liberal approach is insane: leave Canadian wealth in the ground, import moral lectures from Europe, then wonder why productivity is weak, investment is fleeing, and Canadians feel poorer.