The CEO of one of Canada's largest oil and gas firms criticized the federal government's overzealous focus on climate change, stunting the growth of a key economic sector.

“The national dialogue on further development of the oil sands has been myopically focused on the climate agenda and climate policy," Cenovus Energy CEO Jon McKenzie said.

“We have created a set of national policies and regulations that make resource development and investment in Canada uncompetitive with the rest of the world.”

On Thursday's Rebel Roundup, hosts Sheila Gunn Reid and Tamara Ugolini reacted to McKenzie's comments and Prime Minister Mark Carney's response to the energy executive.

Go Ad Free

Countries around the world are seeking “cheap, reliable Canadian energy, and a carbon tax adds to the cost,” Sheila said in response to Carney's assertion that carbon taxes are making Canada more competitive on the global market.

Using Japan as an example, she noted “they never once” asked for a carbon tax to be included as part of a liquified natural gas deal. Worse yet, Canada purchases gas from Egypt, which does not have a carbon tax, “because we can't figure out how to build a natural gas pipeline across this country.”

Echoing that point, “no one wants to pay extra or premium for low-carbon or low-emissions-produced oil,” said Tamara, accusing politicians of living in a fantasy land.

Many Canadians who supported Carney did so on the pretext he was some “central bank extraordinaire” who was “going to turn the economy and pivot on a dime because he had the expertise” after Justin Trudeau got Canada into a dire situation.

After a decade of “horrible policies” first under Trudeau and now Carney, Canada is now in a stagnant position, she added.

While the potential to unlock Canada's economic might is there, we're stuck with the “same old” government in Ottawa, Tamara said.