You know that you live in a petro state when war in the Middle East makes certain people salivate. It’s gross. But it’s happening. 

In the wake of the U.S. and Israel’s illegal attack on Iran, countless Canadian columnists, pundits and politicians jumped at the chance to argue that this latest crisis means the world needs more Canadian oil and gas. Investment portfolios should stock up too.  

One portfolio manager was quoted in BNN saying it is a “massive, massive opportunity.” Another said it was evidence of the need for another pipeline in order to “unleash Canada.” Alberta Premier Danielle Smith, predictably, said it underscores the need for a million-barrel-a-day bitumen pipeline to the West Coast. And a columnist in the Globe and Mail said that the conflict in Iran is “one of those crises that Canadian politicians can’t let go to waste.” 

The conflict has already driven up the prices of oil and gas. And the closure of the Strait of Hormuz has cut off a significant share of global oil and gas supply. 

But all the ink spilt celebrating this by industry pundits is in extremely poor taste and just flat out wrong about what it will actually take to make Canada successful. 

First and most importantly, it is morally reprehensible to cheer as children are bombed because Canadian oil companies will make an extra buck. It’s sickening to use this crisis to argue for another pipeline. 

Our hearts are with the civilians of Iran and across Middle Eastern countries who have lost loved ones, homes, and critical infrastructure, and whose lives continue to be rocked and terrorized by authoritarian powers. The people deserve freedom and safety, and to define the path of their own political fate. 

Surely even the nicest petro-state shouldn’t applaud increased demand for Canadian fossil fuel exports if it means celebrating war. And we should not forget that this product, which the “I heart Canadian oil and gas” crowd is so happy to hear is in greater demand, is the primary driver of the climate crisis. There is some irony, too, in celebrating higher oil prices that pad out company balance sheets and bring provincial budgets closer to balance while punishing Canadians at the pump during an affordability crisis. 

Second, high gas prices may help drive the energy transition. That was the whole idea of the carbon tax. 

And this, in fact, is probably the more important dynamic to take note of. There is no way that Canadian producers will get more LNG to market or another pipeline built within the timeframe that would actually fill the void created by the war in Iran. A pipeline would take at least a decade to build, even if Canada makes use of its new fast-track process. BC’s two proposed major new LNG projects, LNG Canada Phase 2 and Ksi Lisims, will take up to 3 and 5 years, respectively, to reach market if they receive final investment decisions.

There is no quick way to get more oil and gas production to market. Not from Canada, not from Venezuela, and not from anywhere else. Higher prices will persist for some time, and rather than arguing in favour of new infrastructure and new production, this tragedy will hasten the energy transition, as energy importers seek security from geopolitical upheaval and the threat of future upheavals. 

Case in point: when Europe’s access to Russian gas was cut off due to Russia’s invasion of Ukraine, prices spiked, driving record levels of uptake in heat pumps across Europe. Gas costs too much? Okay. We’ll go electric. 

Canadians need to appreciate the speed with which the energy transition is unfolding around the world. Better, cleaner, cheaper technologies have arrived. And they are scaling rapidly. 

Last year, renewables generated more electricity than coal. In 2025, half of the new cars sold in China were electric. Ethiopia has banned the import of gas-powered cars because of chronic fuel shortages and high gas prices. 

The bombing of Iran (and Venezuela) strengthens the case to get off of oil and gas; this is the worst time to be planning on building more fossil fuel infrastructure and increasing production. 

Real energy security is achieved by building out a domestic renewable energy supply and breaking the reliance on fossil fuels. Energy importers around the world are taking notice and will accelerate their pursuit of domestic energy transitions. 

War profiteering is reprehensible. It’s also short-sighted. The way this war is rocking oil markets makes the alternatives look a lot more attractive. We should be cheering the transition on, because it won’t only unleash cheap, abundant, clean energy. It will also reduce global conflicts, too many of which are fought over resources, especially oil.