I'm not sure that O'Leary's argument for not running adds up.

Certainly not taking any seats in Quebec would make it tough to win an election, especially with a majority, but Harper won the 2011 election with only 5 seats in Quebec and would still have had a majority (albeit a thin one) without any seats in that Province.

With the extra seats added for the 2015 election it is even more do-able.  If we had a similar kind of seat split in 2015 as we had in 2011 the Conservatives might have ended up with 180 seats outside of Quebec, more than enough for a majority.

Granted the 2011 election might not be a good barometer for any future elections.