"Against oil" (meaning, development, business, jobs, etc) has been the big conservative complaint against the Liberals, that they sacrifice prosperity and jobs for their (wrong anyway) environmental tenderness.
They're now giving away precisely nothing: the commitment to get all the approvals through, the environment compromised, for a pipeline that's never going to happen.
The money simply isn't there for such a mammoth multi-project. Money is definitely there for tweaks and tricks to squeeze and extra million barrels/day out of the tar sands, and to get that extra million down various improved pipelines, for "just a few billion" in upgrades:
https://www.cbc.ca/news/canada... ... the 80/20 rule, as it were.
But to fill a whole new million bbl/day pipeline, you'd need a major new oil sands mine, like the Kearl Lake Projects back in 2013, which added 880,000/day for a grand total of $20B. (Not just a new mine, you see, but facilities to dilute the bitumen, a pipeline from Edmonton to send diluent, another to send diluted bitumen back, at a billion each...15 years ago.)
So, even if there are new efficiencies, $25B for the sands expansion is conservative, and so is $25B for the next pipeline, even without the pandemic and giant '21 flood that put the last one up to $34B. After recent inflation for construction costs, $50B is really a rock-bottom estimate.
So, if they deliver a million barrels a day, each barrel has to pay the interest on $50,000, and then make a profit. They need over $40/bbl for operating costs, so they really must have over $50/bbl global oil prices...from 2030 through the early 2040s before they get into the gravy. Nobody not paid to be delusional thinks that prices will not go lower and lower as the market starts to decline. The Saudis will probably crash the price (as they did in 2014) just to drive competitors broke.
Nobody's going to risk that. That's the conclusion of the retired Imperial Oil economic/market analyst, Ross Belot, in Canada's Macleans:
https://macleans.ca/economy/wh...
So Mr. Carney can promise to shoot whales personally if they'll just build a pipeline, in the serene knowledge that it isn't going to happen. The only thing he has to do to stop a pipeline is not promise a penny of public money to back it. Since the government already had to pay for the last pipeline, he's got a popular excuse.