Canada’s energy industry has long been a pillar of our economy, providing jobs, economic growth, and reliable energy. It’s also a key bridge between us and our closest ally to the South. But the global landscape is shifting rapidly. In recent weeks, it’s become clear our relationship with America has fundamentally changed—and we must act with urgency to focus on Canada’s national interest.
Let’s be clear: Canada and the U.S. will always have a close, mutually important trade relationship—immutable laws of geography and economics dictate it. It is impossible for Canada’s energy industry to completely disengage from the world’s largest energy market next door while also being quite literally tied to it through shared pipelines and infrastructure. But growing geopolitical uncertainty, rising global energy demand, and intensifying competition mean we can’t afford to be complacent.
Since 2015, about $280 billion in energy projects have been cancelled in Canada while competitors have surged ahead. The U.S. has become the world’s top liquefied natural gas (LNG) exporter, while Canada’s first major LNG project won’t be operational until mid-2025. These delays cost us—not just revenue and jobs, but opportunities.
The annexation threats coming from President Trump have made it clear: a country cannot have national or economic security if it doesn’t have energy security. Canada’s complacency in this regard has now become a threat to our very sovereignty.
We need solutions—fast. Taking the right steps now can rapidly start the process of diversifying our customers to build a more resilient and prosperous economy.
First, we need to change the tone from the top. What our leaders tell Canadians matters, and for too long, that message has been that Canada’s oil and natural gas industry wasn’t needed.
The more recent comments coming from federal and provincial leaders across the country about the need for energy security and market access for Canadian oil and natural gas is a step in the right direction. But these statements need to be more than Hallmark greetings. These messages need to be sustained and backed up with action.
The next Canadian federal government must actively promote our world-class oil and natural gas resources and industry as a source of pride and a long-term cornerstone of our economy—with a decades-long runway of projects and opportunities.
Secondly, we’ve got to streamline approvals for major projects that have been completed or are already nearing the final stage of regulatory processes. For the energy industry, this includes expediting ongoing and proposed LNG projects—ensuring viable access to West Coast tidewater—as well as enhancing and expanding our ports.
We have multiple LNG projects in British Columbia with owners who are eager to start construction and a major oil project offshore from Newfoundland waiting to be greenlighted by its owner. These projects check all the boxes for what Canada needs right now. Each of them expands access for Canadian energy to global markets. They have Indigenous support and in most cases for west coast LNG, have Indigenous ownership interests. They have proponents ready and willing to invest billions of dollars in Canada. A determined government effort to get these projects approved and break ground will create jobs, signal investors that we’re serious about change, and attract new proposals. The opportunity is in front of us, but it won’t wait forever—other countries are already seeking resources elsewhere.
Third, let’s fix the current regulatory environment to attract investment back into Canada, and get more projects built. Canada needs a major policy reset to create the conditions that will attract investment, not only into our energy industry but into all our major industrial and export sectors.
The next federal government must repeal the Impact Assessment Act and replace it with a predictable, “one project, one assessment” model. The unconstitutional and overly complex emissions cap must be abandoned, and the regulatory burden on industries reviewed, revised, or repealed. This must happen urgently, with respect for provincial jurisdiction to enable faster decision-making.
Canada struggled to compete with the U.S. under the Biden administration. In light of the seismic resets happening under President Trump, Canada needs a policy overhaul more than ever to create a streamlined and durable regulatory framework that allows projects with viable markets and motivated investors to succeed.
Strengthening market access and trade relationships is critical to economic growth. Tariffs and trade restrictions pose real threats, and diversifying exports beyond North America into Asian and European markets will promote long-term stability. At home, securing Ontario and Quebec’s energy supply must be a national priority.
Canada and our energy sector are at a crossroads. The choices we make today will determine whether we become a global energy leader or continue to fall behind. With decisive leadership, smart reforms, and a renewed commitment to investment, we can unlock our full energy potential, support our partners and make new ones, create jobs, and secure a more secure and prosperous future for all Canadians.
The time to act is now.
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