Then & Now: What Happens When Canada Misses Out on Natural Resource Investment (11 Infographics)

Then & Now: What Happens When Canada Misses Out on Natural Resource Investment (11 Infographics)

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Then and Now - What happens when Canada misses out on natural resource development - 11 examples of lost economic opportunities for Canadians

What happens exactly when Canada fails to develop its natural resources, and who is better off for it? – (HINT: it sure isn’t Canadians).

Anti-development obstructionists in Canada would have us believe that cancelling an oil pipeline, shutting down a mining project, or preventing a liquefied natural gas (LNG) export facility from getting approved is somehow a big win because these energy resources will not be developed.

But that’s just not the case.

Over the past decade, Canada has seen numerous forestry, mining, and energy projects cancelled or suspended worth nearly $670 billion – despite growing global demand for all of the above. This lost capital, if kept in Canada, would have created good jobs, supported homegrown businesses, and generated government revenues to help pay for our social programs such as education and healthcare for decades to come.

It is imperative Canadians understand that when we fail to build resource projects, we forfeit the immense economic opportunities that come with them—which are absolutely precious and irreplaceable contributors to our economic strength and overall prosperity.

Below, we look at several examples of Canada failing to capitalize on resource projects, only to see capital investment and the economic benefits go elsewhere abroad (in no particular order).

Activists Say Canada Doesn’t Need Trans Mountain

then and now - opponents say Canada doesn't need the trans mountain pipeline, but today the project is massively increasing exports from port of vancouver

THEN: To no surprise, activists said for many years that Canada didn’t need the Trans Mountain Pipeline Expansion (TMX).

NOW: Today, the pipeline is creating massive economic benefits for Canadians at a time when we need it the most, all the while global oil demand is projected to grow to new record highs and be at the same level in 2040 as it is today – at around 105 million barrels per day (mbpd) [1].

Greece ‘Interested’ in Canadian LNG

then and now - Greece comes to Canada and says it would buy Canadian LNG, but then buys US LNG to increase energy security

THEN: Greece Prime Minister Kyriakos Mitsotakis came to Canada in 2024 and said that his country would be interested in Canadian-made LNG, if it were made available to his country.

NOW: Since then, Greece has signed onto LNG supply agreement deals with countries like the United States, while its LNG imports reached a record high at the beginning of 2025 [2][3]. Greece is said to be an LNG gateway for southeastern Europe, as natural gas is then sent through pipelines to nearby countries.

Poland ‘Interested’ in Canadian LNG 

Then and Now - Poland President Duda says he would be interested in Canadian-made LNG

THEN: Last year, Poland President Andrzej Duda joined a growing list of foreign leaders that have said they are interested in or would support Canadian-made LNG. Before him, Poland’s Ambassador to Canada also expressed direct interest in buying Canadian LNG to support energy security in his country and across the European continent.

NOW: Poland recently expanded its Świnoujście LNG import terminal from 6.2 billion cubic metres to 8.3 billion cubic metres of regasification capacity per annum [4]. The country is also set to invest further in boosting energy security with the construction of a floating LNG terminal in the Bay of Gdańsk, scheduled to be built by 2028 [4]. While Poland builds new LNG infrastructure and signs new deals, Canada still has yet to have any east-coast LNG facility approved by government.

European Conflict Highlights Energy Opportunity

then and now - Ukraine says European energy crisis an opportunity for Canada, today Europe signs long-term LNG deals with middle eastern suppliers

THEN: Shortly after the war began, Ukraine Ambassador to Canada Yulia Kovaliv said that Europe’s energy crisis was an opportunity for our country to expand into the European market [5].

NOW: Ukraine has recently signed a major LNG supply agreement with the U.S. to source American LNG through Poland, helping to enhance energy security amid the war [6].

Germany Asks Canada for LNG

then and now - Germany came to Canada asking for LNG but left with no promises, recently Germany went to sign multiple deals with Qatar and other suppliers abroad

THEN: German Chancellor Olaf Scholz made his way to Canada shortly after the outbreak of the war in Ukraine in 2022 to ask Canada for reliable LNG supply. Germany’s leader said he preferred to source Canadian-made energy because of the shared values our countries have. Unfortunately, he left with no promises for LNG [7].

NOW: Since Scholz’s visit, his country has gone on to sign multi-billion dollar LNG supply agreements with Qatar and other countries abroad, much of which is expected to come online in 2026 and beyond – another massive lost opportunity for Canadian families.

Japan Asks Canada for Reliable LNG Supply

Fumio Kishida comes to Canada and asks for reliable LNG supply

THEN: In early 2023, former Japanese Prime Minister Fumio Kishida came to Canada asking for reliable LNG supply as it sought out new supply chains. Unfortunately, like Germany before him, Kishida left with no new promises for Canadian-made LNG.

NOW: Japan’s new Prime Minister Shigeru Ishiba is expected to boost Japan’s imports of U.S. LNG as the country looks to boost energy security and defence capabilities [18].

Australian Company Exits Canada LNG Project

then and now - Australia company exits a Canadian LNG project due to slow regulatory process and high costs, then decides to invest in projects elsewhere abroad

THEN: Australia’s Woodside was a 50-50 partner to develop the proposed Kitimat LNG facility in northern British Columbia, but pulled out of the project due to lengthy regulatory processes and delays and hundreds of millions of dollars spent on initial steps [8].

NOW: Woodside signed a long-term LNG supply deal with China, while the company expects LNG demand to exceed supply past 2030 [9][10].

Philippines Open to Canadian-Made LNG

then and now - the philippines says it is open to discussing buying LNG from Canada, but today has said it would invest to purchase American LNG instead

THEN: The Philippines top diplomat said his country is open to discussions on trade and investment opportunities with British Columbia and Canada in several key areas – including LNG [11].

NOW: The Philippines has expressed strong interest in purchasing natural gas from the Alaskan LNG project to help meet its growing energy needs [12].

French Energy Major Leaves Canadian Oil Sands

Total energies divests from oil sands, and invests tens of billions of dollars in suriname a few years later

THEN: TotalEnergies divested fully from Canada’s oil sands in 2023 after other sell-offs over the past several years [13][14]

NOW: TotalEnergies invested USD $10.5 billion into Suriname’s Gran Morgu development – an offshore field about 150 kilometres off the coast with an estimated 750 million barrels of recoverable reserves [15].

Activists Say Oil’s Decline Already Here

Then and Now - Activists say the end of oil is nigh, but global oil demand expected to reach new highs five years later

THEN: After the COVID-19 pandemic swept across the planet, non-governmental organizations suggested that the decline of oil had already begun – despite global demand always bouncing back and returning to new record-highs in the past.

NOW: The International Energy Agency is saying that global oil demand is projected to accelerate to more than 1 million bpd in 2025, while other organizations estimate demand to be the same in 2040 as it is today [1][17]

Northern Gateway Pipeline Cancelled

then and now - in 2016, Canada shut down the northern gateway pipeline, today the U.S. is expanding its oil production to new heights with new pipeline approvals

THEN: Canada’s federal government cancelled the Northern Gateway pipeline in 2016 despite receiving full regulatory approval and being supported by 80% of Indigenous communities along its route.

NOW: Global oil demand is set to reach new record highs, while competing producers in North America, South America, Africa, the Middle East, and elsewhere abroad look to boost oil supply.

Let’s Build Canada Up

These examples of missed opportunities paint a clear picture: when Canada fails to develop its natural resources, other nations step in to fill the void, and Canadian families are left behind.

It's time to ask ourselves: who truly benefits when Canada misses out on natural resource investment? And perhaps more importantly, when will we stop listening to the “no-to-everything” anti-resource development obstructionists who are inadvertently helping other countries benefit economically at the expense of Canadians?

Let's champion energy, forestry, mining, and agriculture development that creates jobs, strengthens our economy, and supports our social programs, ensuring a brighter future for all Canadians.

then and now - In 2023, Japan came to Canada asking us for reliable LNG supply but left with no promises, today Japan is looking to invest in Alaskan LNG, a direct competitor of BC LNG in Canada

SOURCES:

1 - https://www.reuters.com/business/energy/vitol-sees-2040-global-oil-demand-little-changed-current-levels-2025-02-03/

2 - https://www.rivieramm.com/news-content-hub/news-content-hub/record-high-lng-imports-in-greece-amid-declining-russian-gas-flows-to-europe-83693

3 - https://www.offshore-energy.biz/us-greek-lng-deal-opens-new-route-for-energy-diversification-in-europe/

4 - https://safety4sea.com/poland-expands-swinoujscie-lng-terminal/

5 – https://globalnews.ca/news/8906225/ukraine-ambassador-european-energy-crisis-canada-opportunity/

6 - https://ca.finance.yahoo.com/news/ukraine-buys-us-lng-deal-095516590.html

7 - https://www.reuters.com/business/energy/winter-is-coming-germanys-scholz-leaves-canada-with-no-promises-lng-2022-08-25/

8 - https://vancouversun.com/news/australian-energy-giant-woodside-petroleum-wants-out-of-troubled-kitimat-lng-project

9 - https://www.reuters.com/business/energy/woodside-signs-long-term-lng-supply-deal-with-china-resources-gas-2025-03-17/

10 - https://www.argusmedia.com/en/news-and-insights/latest-market-news/2661314-australia-s-woodside-sees-robust-demand-for-lng

11 - https://www.princegeorgecitizen.com/asia-pacific/philippines-opens-door-to-strengthening-bc-trade-ties-in-key-areas-8744885

12 - https://financialpost.com/pmn/business-pmn/philippines-seeks-to-buy-lng-from-delayed-alaska-project

13 - https://totalenergies.com/media/news/press-releases/canada-total-sells-its-interest-joslyn-oil-sands-project-cnrl

14 - https://www.ft.com/content/164bea74-276f-4401-b283-194900e378dc

15 - https://totalenergies.com/news/press-releases/suriname-totalenergies-announces-final-investment-decision-granmorgu

16 - https://www.greenpeace.org/international/story/29458/peak-oil-decline-coronavirus-economy/

17 - https://www.iea.org/reports/oil-market-report-february-2025

18 - https://english.kyodonews.net/news/2025/02/8126fca86e59-japan-pm-to-pledge-more-lng-imports-from-us-in-talks-with-trump.html