The Financial Post reports in its Friday, Oct. 31, edition that in an alternative reality, Canada could have avoided economic self-destruction by building the Northern Gateway, Energy East and Keystone XL pipelines. The Post's guest columnist Alberta Premier Danielle Smith writes that this would have provided an additional 2.5 million barrels of oil per day in export capacity, generating over $55-billion in annual revenue -- more than 1 per cent of Canada's GDP. These projects could have added $21-billion to GDP each year, created over 62,000 jobs, and increased tax revenues for federal and provincial governments. Instead, due to federal economic policies causing stagnation and inflation, Canada is missing out on significant revenue and opportunities for greater prosperity. With Alberta's resource wealth valued at over $9-trillion, Canada cannot afford to leave it untapped. By building pipelines to new markets and through projects utilizing carbon capture utilization and storage, such as the Pathways project, Canadian energy will be the lowest-emission barrel of heavy oil in the world. Canadian oil and gas can replace higher-emitting energy sources abroad and reduce reliance on undemocratic regimes.
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