Investor interest in Alberta is surging, with some describing the sentiment as going 'nuclear' over Prime Minister Mark Carney's pro-energy messaging. In a recent episode of the Full Comment podcast, Paul Colborne, CEO of Calgary-based Surge Energy, shared his conviction that Carney is serious about boosting oil production, including advancing new pipeline projects.
Colborne noted that after a challenging decade under former Prime Minister Justin Trudeau's restrictive anti-development policies, there is renewed optimism in the western Canadian oilpatch. He pointed to Carney's memorandum of understanding with Alberta Premier Danielle Smith as a key signal of the federal government's commitment to resource development.
Why investors are clamoring to get in
According to Colborne, investors are eager to participate in Alberta's energy sector again. He explained that Carney's approach, which includes conditions around carbon pricing and emissions sequestration, is seen as a pragmatic path forward. Colborne even acknowledged the benefits of the carbon tax and emissions-sequestering conditions within the agreement, viewing them as necessary compromises to achieve broader development goals.
Overcoming political hurdles
Colborne expressed confidence that potential obstacles from British Columbia, First Nations, or anti-oil Liberal MPs will not derail Carney's plans. He argued that using Canada's natural resources is essential to escape the economic challenges left by the previous administration, which he described as a disastrous, money-printing dead end. The podcast, recorded on May 22, 2026, highlights a shift in investor sentiment and a growing belief that Carney will follow through on his promises to revitalize the energy sector.
