Ottawa imposed new regulatory hurdles that led to TransCanada scuttling its Energy East project.
The Trudeau government took an already onerous and arbitrary environmental assessment process and made it worse.
Alberta’s new carbon tax, and higher corporate and personal income taxes, all contribute to a poor investment climate.
The $16 billion Energy East and Eastern Mainline pipeline proposal was regulated to death.
The historical record suggests that sharp declines in oil prices are followed by substantial price recovery.