Canada’s $670 Billion Exodus: Trudeau’s policies BLAMED for resource project wipeout

Dozens of major energy projects scrapped under Liberal rule, thanks to anti-oil legislation and regulatory overreach, have sparked calls for revival amid economic and geopolitical pressures.

Since Prime Minister Justin Trudeau took office in 2015, Canada has lost an estimated $670 billion in resource investment due to the cancellation or shelving of major oil, gas, and energy projects, according to a report from Energy Now Media.

Critics argue that the Trudeau government’s hostile stance toward oil and gas, combined with crushing regulatory policies, has driven away capital and stifled development.

Key legislation blamed for these losses includes Bill C-69, dubbed the "No More Pipelines" bill, which drastically expanded federal environmental assessment requirements, making approvals for major projects slow and unpredictable.

The bill was so controversial that Alberta Premier Danielle Smith called it a “wrecking ball” for the energy industry. In 2023, the Supreme Court ruled parts of the bill unconstitutional, but much of the damage was already done.

Another major blow to the industry was Bill C-48, which banned oil tanker traffic along the northern coast of British Columbia, effectively killing the Northern Gateway pipeline, a multi-billion-dollar project that would have connected Alberta’s oil sands to global markets.

Meanwhile, the now-defunct Energy East pipeline—designed to transport Western crude to Eastern refineries—was abandoned amid rising regulatory hurdles and shifting political priorities.

At the same time, the Trudeau government has doubled down on carbon taxes and emissions caps, policies that industry experts say deter investment. Canada’s LNG sector, once poised to be a global leader, has fallen behind competitors like the U.S. and Australia.

With rising concerns over energy security, economic stagnation, and U.S. trade threats, calls to reverse these policies are growing. Premiers, industry leaders, and Indigenous groups are pushing for a revival of key projects, arguing that Canada must stop self-sabotaging its own resource wealth.

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Sheila Gunn Reid

Chief Reporter

Sheila Gunn Reid is the Alberta Bureau Chief for Rebel News and host of the weekly The Gunn Show with Sheila Gunn Reid. She's a mother of three, conservative activist, and the author of best-selling books including Stop Notley.

COMMENTS

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  • Bruce Atchison
    commented 2025-01-31 17:55:13 -0500
    Imagine how much better off Canada would be if it wasn’t for Justin the Turd and his idiotic green policies. Imagine all the good-paying jobs those resource projects could have given Canadians. But Dopey had to block the pipelines which would have employed so many citizens. All that money was lost because of one foppish man!
  • Bernhard Jatzeck
    commented 2025-01-30 20:03:08 -0500
    Only $670 billion? Trudeau, you’re not even trying!