Energy execs: ‘Build Canada now’

Key Takeaways:

• Energy sector CEOs are urging federal political leaders to declare a national energy crisis and use emergency powers to fast-track projects like pipelines and LNG terminals, citing their importance to Canada’s economic sovereignty.
• The executives demand streamlined regulations, the removal of the federal emissions cap, repeal of the carbon levy on large emitters, and support for Indigenous co-investment, arguing these measures are crucial for project approvals and economic growth.
• Conservative leader Pierre Poilievre advocates for eliminating the carbon tax and expediting projects, while Liberal leader Mark Carney supports balanced energy development, emphasizing provincial cooperation and positioning Canada as a leader in both conventional and clean energy.

The Whole Story:

With a federal election on the horizon, a group of energy sector chief executives is urging the leaders of Canada’s four federal political parties to declare a national energy crisis and invoke emergency powers to fast-track critical projects deemed to be in the “national interest.”

In an open letter, CEOs from 10 of the country’s largest oil and natural gas companies, along with the four biggest pipeline operators, presented a plan aimed at bolstering Canadian economic sovereignty.

The executives argue that public support is growing for expanding the energy sector and enhancing infrastructure, such as pipelines and LNG terminals, to boost Canada’s energy exports.

The letter comes amid escalating tensions with the U.S., as President Donald Trump threatens Canadian sovereignty and proposes sweeping tariffs on Canadian goods, including oil and natural gas.

Among their key demands, the energy leaders are calling for streamlined regulations and firm deadlines for project approvals.

Additionally, they’re advocating for the removal of the federal emissions cap, the repeal of the carbon levy on large emitters, and loan guarantees to support Indigenous co-investment opportunities.

Alberta Premier Daneille Smith threw her support behind the group, saying the province’s energy sector has long been the economic engine of Canada and has never been more critical to Canadian sovereignty and prosperity.

“During the last decade of Liberal-NDP government, multiple destructive energy policies have resulted in more than $280 billion dollars in projects being delayed, cancelled or shut in by the proponents,” said Smith. “These are projects that would have created tens of thousands of jobs, generated hundreds of billions in government revenues, secured energy security for Eastern Canada and made our nation less dependent on the United States.”

She said Ottawa’s “elected eco-extremists” have done everything they can to keep our oil and gas in the ground – that has to change now.

“We wholeheartedly support the call by Canada’s energy business leaders to find a new way of getting major projects built. Over the last couple of months, we have seen the discussion around our oil and gas shifting across the country, and these industry leaders have captured this spirit perfectly in their letter to the federal party leaders.

Pierre Poilievre, the Conservative Party leader, has taken a strong pro-energy development stance. He has promised to repeal Bill C-69, which he sees as a hindrance to major project approvals, and pledged to create “Canada Shovel Ready Zones” to expedite the development of various energy and infrastructure projects. Poilievre has also vowed to eliminate the carbon tax entirely, including for large industrial emitters.

Mark Carney, the Liberal Party leader and former Bank of Canada governor, has adopted a more moderate approach to energy policy, marking a shift from his previous climate-focused stance. Upon becoming Prime Minister, Carney cancelled the unpopular carbon tax on consumers.

While expressing support for pipeline construction and energy development, Carney has emphasized the need for provincial agreement, particularly with Quebec, before proceeding with major projects. He aims to position Canada as “an energy superpower in both clean and conventional energy,” attempting to balance economic development with environmental concerns.