OTTAWA – Prime Minister Mark Carney has announced that Canada is aggressively moving to expand its energy footprint in Asia to counter potential market disruptions caused by U.S. President Donald Trump’s latest maneuvers in Venezuela. Speaking from Paris during talks on Ukraine, Carney addressed concerns that a U.S.-backed revitalization of the Venezuelan oil industry could displace Canadian heavy crude in American refineries. While Carney welcomed the prospect of “greater prosperity” for the Venezuelan people, he emphasized that Canada must prioritize the competitiveness of its own energy sector. As part of a landmark Memorandum of Understanding (MOU) signed with the Alberta government, the federal government is now fast-tracking plans for a new bitumen pipeline to the Pacific coast, aimed at diversifying exports away from a total reliance on the United States.
The push for a new Pacific-bound pipeline has gained significant political momentum at home. Conservative Leader Pierre Poilievre has called for the immediate approval of a West Coast pipeline within 60 days, warning that “every barrel the United States sources from Venezuela could mean one less barrel bought from Canada.” This urgency is shared by Alberta Premier Danielle Smith, who highlighted that while Canadian oil remains a “low-risk and lower-carbon” alternative, the shifting geopolitical landscape under the Trump administration makes the expansion into Asian markets a matter of national economic security. The proposed pipeline, which would carry an additional 400,000 barrels per day, is seen as a vital hedge against a resurgent Venezuela, ensuring that Alberta’s resources have a guaranteed route to energy-hungry economies across the Pacific.
