Could it be true? Are the Liberals really ahead federally in Alberta polls?
Canada sits on one of the largest energy reserves on Earth ... yet thanks to a decade of political obstruction, much of it might as well be buried forever.
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Article by Rebel News staff
Years ago, while researching the book Ethical Oil: The Case for Canada’s Oil Sands, Ezra spent time learning the basics of the oil industry. One of the first things you discover is the difference between resources and reserves.
A reserve is oil that has been proven to exist and can be produced economically with today’s prices, technology, and regulations. A resource, by contrast, is oil we know is there but can’t yet produce profitably.
Alberta’s oilsands hold about 170 billion barrels of proven reserves, an astonishing figure. But the actual oil in the ground is far greater: roughly two trillion barrels of resources waiting for technology or market conditions to make them viable.
So Canada isn’t short on oil. Not even close. What we are short on is political will.
Canada’s energy minister recently suggested the country could help stabilize global markets by “releasing reserves” as tensions in the Middle East threaten shipping through the Strait of Hormuz. But that comment reveals a misunderstanding of how the industry actually works.
Canada doesn’t have a massive strategic petroleum reserve like the United States. We don’t have giant stockpiles sitting underground ready to release during emergencies. If Canada wants to supply more oil, there’s only one way to do it: produce more oil.
And producing more oil requires something Ottawa spent the last decade obstructing: pipelines.
Even if Canada suddenly ramped up production, the next problem appears immediately: how do we get that oil to world markets?
Right now, much of Canada’s crude can only reach buyers through the United States. That effectively makes America our single dominant customer, a classic economic situation known as a monopsony, where one buyer holds enormous leverage over the seller.
The result? Canadian oil often sells at a discount, allowing U.S. refiners to profit while Canada leaves billions on the table.
Worse still, Canada can’t easily ship oil to Europe or Asia without selling it to American intermediaries first.
The tragedy is that it didn’t have to be this way. Projects like Energy East, Northern Gateway and Keystone XL could have diversified Canada’s export markets. Instead, regulatory barriers, political opposition and shifting federal policies killed them one by one.
Meanwhile, other countries race to expand production and dominate global energy markets.
Canada could have been leading that race. Instead, we’re standing on top of one of the world’s largest energy treasures ... while pretending we can’t reach it.
GUEST: Senior columnist Lorne Gunter joins the show.
COMMENTS
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Stephen Brokloff commented 2026-03-17 14:57:50 -0400This the only reason liberals are learning in Alberta, albertens don’t cair about Canada so so called election, they are more interested in there own election As a country of Albert or whenever the decide to call it. -
Anthony Salotti commented 2026-03-17 06:56:38 -0400Alberta has to separate . Enough already . -
Joe Harris commented 2026-03-16 23:35:56 -0400Even harper did not help Alberta get fair treatment just di not turn off our oil.. All the money still went East.
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Joe Harris commented 2026-03-16 22:30:35 -0400Yes we are their crazy uncle, time to call it a day and leave this confederation of users and fools.
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Bruce Atchison commented 2026-03-16 21:09:09 -0400Let’s face it; central Canada hates the west. Nothing we could do would ever please them. They seem to wish we’d go away but keep paying them money. We’re like a rich-but-crazy uncle whom they despise but still mooch from.
