"What made Alberta crazy": Shark Tank investor Kevin O'Leary shares why Mark Carney’s carbon tax plan sparks outrage and economic warning

In a recent clip from his Fox News interview posted on Instagram on May 3, 2025, Shark Tank investor and entrepreneur Kevin O’Leary was asked a two-part question about the current situation in Alberta and how difficult it will be for Mark Carney to improve the economy. O’Leary responded by saying:

“Well he started right out of the gate in the wrong direction he added more carbon taxes in the business that's the first thing he did people were shocked that's what made Alberta crazy.”

O'Leary discussed the growing frustration in Alberta and the economic uncertainty surrounding Carney’s approach.

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Shark Tank's Kevin O'Leary details how the carbon tax triggered backlash and political tension in Alberta

Parliamentary structure and leadership concerns

Kevin O’Leary emphasized the significance of Canada’s parliamentary structure when assessing the future of Carney’s administration.

The Shark Tank investor stated:

“You gotta remember something about the parliamentary system in Canada, he did not win a majority.”

O’Leary linked this condition to the potential for early leadership changes, referencing historical outcomes in similar systems.

According to him, leaders without majority support often face early challenges and limited stability. He further added,

“If you look at the history in Britain and Canada in other places with parliamentary structure, a guy that comes in that doesn't win a majority, he gets whacked pretty soon probably twelve to 18 months.”

Kevin framed this timeline as consistent with the parliamentary trend, without making predictions, but underlining the structural vulnerability of minority governments.

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Alberta’s economic position

During the interview, O’Leary drew attention to Alberta’s role in Canada’s economy. The Shark Tank investor said,

“They create most of the wealth in Canada and distribute it to other provinces that don't have it.”

Kevin's mention of Alberta’s contribution highlighted concerns around how tax policy changes may be received in a province central to national economic activity.

O’Leary linked Alberta’s economic status with growing dissatisfaction in response to the new carbon tax.

He did not elaborate on specific industries or data but identified the reaction as a broader economic signal.

O'Leary suggested that Alberta’s position is not being considered adequately in federal economic planning.

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Growing political reactions

Beyond economic considerations, O’Leary pointed to a notable political reaction in the province.

The Shark Tank investor stated:

“They are talking about sovereignty of their own,” referring to Alberta’s discussions around autonomy.

While he did not describe this as an official movement, he mentioned it as part of the broader public response.

In his Instagram caption on the same post, accompanying the video clip from the interview, O'Leary mentioned:

“I’ve been watching the Alberta situation closely — and let me tell you, it’s heating up fast.”

He listed the presence of a minority government, new carbon tax measures, and rising discussion of sovereignty as contributing to the situation.

His remarks did not indicate specific forecasts but drew attention to public and provincial reactions.

In his closing remarks during the interview, O’Leary said Mark Carney “is gonna have to work pretty hard to win over the Albertans,” suggesting the need for strategic engagement. He then added,

“I’m not sure it’s going to happen,” leaving the outcome open-ended.

The Shark Tank investor did not provide proposals or further commentary on future steps but remained focused on describing current developments from his perspective as a business investor following the region.

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