The National Post reports in its Wednesday edition that as oil and LNG prices surge due to military actions in Iran, Canada should capitalize on this opportunity. The Post's guest columnist Adam Pankratz writes that years of neglect in pipeline investment, however, leave us watching other nations, like the United States, benefit while we struggle with minimal gains. While Canadian producers still benefit from higher oil prices for their existing production, the Canadian oil and gas industry ought to be benefiting more. Our failure to build pipelines to access markets other than the United States will have huge financial implications. By deluding ourselves that "there was no business case" for LNG or that the world would not want more Canadian oil, we have literally cost ourselves billions of dollars. This should be a national scandal. While the current government has tried to reverse the failed policy of the past, so far nothing has actually been built or accomplished. In the past 10 or so years Canada has made policy mistakes that have caused the country to lose billions of dollars, by turning away from economic prosperity in favour of failing battery plants and other unprofitable green energy fantasies.
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