Greg Ebel, CEO, Enbridge Inc. on Jan. 6, 2025. Photo by Darren Makowichuk/Postmedia

Enbridge Inc. is channelling most of its investment into the U.S. as Canadian regulations and lengthy approvals make the country less competitive, chief executive Greg Ebel said.

About two-thirds of the $30 billion investment program at Canada’s biggest pipeline operator is going to the U.S., where opportunities are better, Ebel said at an event in Toronto. Policies introduced under former Prime Minister Justin Trudeau — including an emissions cap on energy producers, a carbon levy, a tanker ban off northern British Columbia and a drawn-out approval process — have driven capital away, he said.

“That’s hard for a Canadian to say, but that’s a reality of the situation,” he added.

His remarks come as

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