The Post
FP says Whitecap CEO sees Tories as industry's saviour
2025-01-20 08:59 ET - In the News
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The Financial Post reports in its Saturday edition that Prime Minister Justin Trudeau's decision to step down in March will end a turbulent era in Canada's oil sector, characterized by conflicts with the climate movement, growing green investing and political opposition to pipelines. The Post's Meghan Potkins writes that during that time, many in the sector became convinced that Mr. Trudeau was an enemy of the energy industry and bent on prematurely sunsetting Canadian production of oil and gas. The PM's oil-patch critics allow that his government salvaged the Trans Mountain pipeline expansion, a move that has opened new markets for Canadian crude and narrowed the discount on barrels of Western Canadian Select. The proximity and bitterness of the Trudeau years make it unlikely the next Liberal leader, regardless of who assumes the helm, could hope to receive a warm reception in the oilpatch. "It's Liberal policies; it's not necessarily one individual where our challenges in Canada have come from, and I think that Mark Carney would be more of the same," Whitecap Resources chief executive officer Grant Fagerheim said. "We have to ... give another political group, the Conservatives, an opportunity to see what they can do."