More evidence is emerging that Prime Minister Mark Carney is choosing to ignore what he knows about climate change economics to do precisely the wrong thing. He is thinking of reviving the Keystone XL pipeline.
As a world expert on climate change economics, Carney could tell you that the crucial thing is to avoid locking in inappropriate long-term investments in fossil fuels which we will need to scrap early and which will delay and raise the costs of dealing with climate change. Unfortunately, the political imperative to cater to the planet-wrecking industry has overpowered his expertise, honesty, or integrity. The sad fact is, once built, even the dirtiest projects are politically agonizing to shut down. Carney is ignoring the most elementary requirement of controlling climate change: to stop building the fossil fuel infrastructure that causes the problem.
Related:
- The environmental movement and young people’s rage
- Keystone XL uncertainty and the environmental movement’s proficiency at saying no
- Canada’s message to the world
- Targeting pipelines
- Unproductive investments that harm the world
After Intense Lobbying, Carney Allows Gas-Powered Data Centres in Alberta
Energy firm pushed federal officials to scale back clean-electricity rules tied to AI sector
https://thewalrus.ca/after-intense-lobbying-carney-allows-gas-powered-data-centres-in-alberta/
Carney temporarily suspending federal fuel excise tax on gas, diesel and aviation fuel | CBC News
https://www.cbc.ca/news/politics/carney-fuel-excise-tax-affordability-9.7162911
Trump signs order to revive parts of cancelled Keystone XL pipeline | CBC News
https://www.cbc.ca/news/business/trump-authorizes-canada-wyoming-pipeline-9.7183277
Ottawa, Alberta close to reaching industrial carbon pricing deal, sources say
Agreement would dramatically roll back Trudeau-era climate policy, set stage for new oil pipeline to B.C. coast
https://www.theglobeandmail.com/politics/article-ottawa-alberta-industrial-carbon-pricing-oil-pipeline-smith-carney/
Carney and Smith agree on terms to build a new oil pipeline
The prime minister and Alberta’s premier announced their agreement in Calgary on the eve of a long weekend. In it, Alberta committed to submit its pipeline application to the Major Projects Office by July 1 — and by Oct. 1, the federal government aims to designate it a “project of national interest” and immediately start determining the conditions for its construction.
https://www.nationalobserver.com/2026/05/15/news/carney-smith-new-pipeline
Carney and Smith agree on terms to build a new oil pipeline
https://www.nationalobserver.com/2026/05/15/news/carney-smith-new-pipeline
The prime minister and Alberta’s premier announced their agreement in Calgary on the eve of a long weekend. In it, Alberta committed to submit its pipeline application to the Major Projects Office by July 1 — and by Oct. 1, the federal government aims to designate it a “project of national interest” and immediately start determining the conditions for its construction.
Back then, among some, there was little to question about Carney’s climate credentials. He was the globe-trotting central banker known for his speech that linked climate change and financial instability. He further blended climate action and finance working with the United Nations.
In his bestselling book Values, Carney wrote that “to meet the 1.5 C target, around 80 per cent of remaining fossil fuels would need to remain in the ground.”
“I feel confused. I read the prime minister’s book,” said Caroline Brouillette, the executive director of Climate Action Network Canada, a group that brings together climate-focused organizations from coast to coast to coast.
“I also vividly remember his ‘Tragedy of the Horizons’ speech and how groundbreaking it was back in the day. And so my question is: Was that speech only rhetoric or did the now prime minister actually believe its contents?”
As Canada’s 24th prime minister, Carney has done what some feared Conservative Leader Pierre Poilievre would:
* Eliminate the consumer carbon tax.
* Reverse the implementation of the oil and gas emissions cap.
* Scrap the electric vehicle sales mandate.
* Double down on fossil fuel subsidies for LNG and enhanced oil recovery.
* Chart ambitious plans to turn Canada into one of the largest suppliers of LNG in the world.
* Back the construction of a potential bitumen pipeline to the West Coast.
https://www.cbc.ca/news/politics/carney-climate-trudeau-mckenna-guilbeault-wilkinson-9.7217187
Cenovus CEO says proposed pipeline to Canada’s west coast currently ‘unfinanceable’
https://www.reuters.com/business/energy/cenovus-ceo-says-proposed-pipeline-canadas-west-coast-currently-unfinanceable-2026-06-09/
CALGARY, June 9 (Reuters) – Cenovus Energy CEO Jon McKenzie said Tuesday Alberta’s proposed 1 million barrel-per-day pipeline to British Columbia’s Pacific coast cannot be financed by the private sector under Canada’s current regulatory regime.
McKenzie, who heads one of Canada’s largest oil sands companies, said at the Global Energy Show in Calgary that the country’s industrial carbon pricing system makes Canadian oil uncompetitive and inhibits the production growth required to fill the proposed pipeline.
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A former member of Canada’s top climate body said the pipeline deal Canada signed with Alberta is incompatible with Carney government’s net-zero target.
“You can’t be saying these deals are still compatible with net-zero by 2050. They’re not. The deal is not compatible with it,” said Simon Donner, the former co-chair of the Net-Zero Advisory Body (NZAB), while testifying before the House of Commons environment committee.
“Just be honest with Canadians about this. If you are going to pass deals like this, be honest about the implications.”
https://www.cbc.ca/news/politics/net-zero-advisory-body-9.7229357
Canadian prime minister Mark Carney is not the climate guy you thought | Seth Klein
https://www.theguardian.com/commentisfree/2026/may/21/mark-carney-climate-canada