He said those policies would have made energy too expensive for Canadians while constraining the oilpatch, just as trading partners are looking to Canada for energy \u2014 and as the country seeks to diversify exports away from the United States.<\/p>\n
Carney also drew a direct line between his energy policies and national unity, arguing that a stricter environmental regime proposed by the Trudeau government was an \u201copen opportunity for those people who wish to pull Canada apart.\u201d<\/p>\n
\u201cWe can\u2019t afford to restrain the growth of an important part of our energy mix, oil and gas, to meet a short-term goal,\u201d Carney said.<\/p>\n
The prime minister\u2019s remarks came at a crucial time \u2014 on the eve of Canada Day, when Smith vowed to have a pipeline proposal ready and submitted to the federal Major Projects Office in Calgary.<\/p>\n
A spokesperson for the premier said a \u201cmajor announcement\u201d is coming on Thursday to outline Alberta\u2019s submission<\/a>.<\/p>\n The pipeline \u2014 part of Ottawa\u2019s and Alberta\u2019s energy pact \u2014 is contingent on a multi-billion-dollar carbon capture and storage project<\/a>, which also requires approval from major oilsands producers.<\/p>\n Carney said the previous government\u2019s climate plan was well-intentioned and well-suited to the conditions at the time it was designed, but things have changed in the past decade.<\/p>\n Prime Minister Mark Carney speaks at a meeting with Alberta Premier Danielle Smith in Calgary on May 15, 2026 before signing an agreement on oil pipeline approvals and carbon pricing.<\/p>\n \u201cOur neighborhood hasn\u2019t been this hostile since Canada was founded,\u201d Carney said. \u201cThe world hasn\u2019t been this unstable geopolitically since the end of the Second World War.<\/p>\n \u201cWe must establish stability amidst this chaos.\u201d<\/p>\n No private proponent has come forward with financial support for the pipeline, which could carry one million barrels per day of Alberta crude to the coast of British Columbia, feeding energy-hungry markets in Asia. Ottawa and Alberta have both said the line would need some kind of private backing.<\/p>\n Coastal First Nations and B.C.\u2019s provincial government are opposed to the pipeline, with both citing environmental concerns and an existing federal tanker ban in coastal waters.<\/p>\n The memorandum of understanding on energy also laid the groundwork for several other agreements between the two governments, including an industrial carbon price, methane equivalency and environmental impact assessments.<\/p>\n Carney said nobody knows how long the global economy will rely on conventional energy. But, until then, as much of the fuel as possible should come from Canada.<\/p>\n Mark Parsons, chief economist with Alberta bank ATB Financial, said it was inevitable that the old federal plan would be revisited, particularly as priorities shifted to fast-tracking major projects.<\/p>\n \u201cWe should be working on producing our emissions intensity over time, but still being globally competitive,\u201d Parsons said. \u201cWe don\u2019t want to see those emissions just go somewhere else.\u201d<\/p>\n Parsons said the country must continue to invest in technologies such as carbon capture and emissions reduction \u2014 which can be sold to the rest of the world \u2014 while staying competitive globally.<\/p>\n \u201cWe would talk about becoming an energy superpower and these longer-term goals, but I think we have a short-term problem we need to address.<\/p>\n \u201cWe need growth \u2014 and where\u2019s it going to come from?\u201d<\/p>\n \u201cWe\u2019re kind of at that critical moment where we do need to get shovels in the ground,\u201d Parsons said.<\/p>\n![\"](\"https:\/\/www.europesays.com\/canada\/wp-content\/uploads\/2026\/06\/f48999be17ff9a352d462a53114934c5.jpeg\"\/)
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