A big reason driving the collapse of the Canadian dollar is the incumbent government's climate change policy. Since being elected to power, the government has regulated, stalled and effectively defunded the fossil fuel industry, accounting for approx. 22-30% of Canada's GDP. That loss of revenue is felt in the dollar exchange.
This is not true in the slightest. Beyond the fact that the government went so far as to buy a pipeline to ensure added capacity for Alberta oil sands development, they've been enormously supportive of LNG development in BC, approving many projects and recently going so far as to give a $500M loan toward a project.
Please stop spreading lies and FUD. The pipeline buyout was too little too late after the government stalled and delayed permits over never-ending environmental assessments. All in all, the projected cost of capital flight exceeds $30 billion CAD (the article is from 2019):
The legislation almost completely predates the current government. Much of it comes from the Harper government who had to rework environmental legislation because the courts forced them too.
