Irving Oil warns against big energy projects

Irving Oil Ltd.’s chief executive officer issued a direct warning to regional premiers and governors on Tuesday to be wary of building costly energy infrastructure projects.

Kenneth Irving used a speech at the New England Governors and Eastern Canadian Premiers conference in Saint John to underscore to the political leaders that no one can predict the future of energy trends.

He did not offer specific examples, but warned against building large power projects that could turn into white elephants if energy trends suddenly change.

“Until we first of all pause, think it through, get everyone to participate and define what it is we want to accomplish, we will be tempted to follow something that I think could be regretful in some point in the future,” Irving said.

CBC