Jon McKenzie, President and CEO of Cenovus Energy takes questions from the media following at an event at The Rooms in St. John’s, Nov. 26, 2025. The Canadian Press/Paul Daly
Alberta’s proposed million barrel-per-day pipeline to British Columbia’s coast cannot secure financing from the private sector because of Canada’s existing regulatory framework, says Cenovus Energy CEO Jon McKenzie.
The country’s industrial carbon pricing system makes Canadian oil uncompetitive and hampers the production growth needed or the proposed pipeline, McKenzie said at the Global Energy Show in Calgary this week.
