Iran war UNDERMINES new oil & LNG projects in Canada - but oil corporations still profit...

Iran war UNDERMINES new oil & LNG projects in Canada - but oil corporations still profit...

Author: Sierra Club Canada March 10, 2026 Duration: 8:21

Oil & gas interests are already lying about the future of their Canadian projects and profiting as a result of the Iran war. In reality price shocks due to the U.S. war on Iran - along with the U.S. attempt to cut Cuba off from oil - will convince countries to move to renewables faster. That in turn makes new Canadian oil, gas and LNG projects LESS viable as they rely on long term demand for their products.

Even before the Iran war, the International Energy Agency still expected oil demand to plateau around 2030 (and gas demand to plateau shortly after) and then decline due to the global transition to renewable energy, and there are enough oil and gas projects already to meet that demand.  

The price of fossil fuels in Canada will rise – increasing the cost of living and inflation. This is only in part because of supply shocks due to the situation in the Strait of Hormuz between the Persian Gulf and the Gulf of Oman, but largely because of speculation: In other words, oil and gas corporations will make a lot of profit off Canadians via inflated prices that are only partially the result of actual supply problems. This speculation was what really happened after Russia invaded Ukraine and it helped cost Canadians $12,000 per household.

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Produced by Sierra Club Canada, The Environment in Canada Podcast digs into the stories and policies shaping our natural world. This isn't just a theoretical discussion; it's a grounded look at the intersection of ecology, economy, and community action across the country. You'll hear conversations that connect the dots between climate change impacts in our own backyards and global biodiversity loss, examining everything from local pollution challenges to the national shift toward renewable energy. The dialogue often ventures into how democratic processes influence environmental outcomes and explores the growing legal and ethical concept of the Rights of Nature. Each episode is built to inform and empower, offering a clear-eyed perspective on both the problems and the tangible solutions emerging from Canadian communities, businesses, and advocacy. By focusing on these interconnected themes, the podcast provides a crucial resource for anyone wanting to understand the full scope of environmental issues today. Weaving together news, science, and politics, this series goes beyond headlines to foster a deeper comprehension of our relationship with the land and water. Listening means engaging with the critical debates that will define Canada's ecological future, all through the trusted lens of one of the nation's most established environmental voices. The aim is to leave you not just better informed, but equipped with the context needed to participate meaningfully in the ongoing conversation about protection and sustainability.
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