For decades, Canada’s vast oil sands, natural gas basins, uranium deposits, and renewable resources have powered our economy, created hundreds of thousands of high-paying jobs, and generated billions in government revenues. Yet, despite these advantages, Canada has not fully claimed its place as a global energy superpower. The time to change that is now.
We are in a critical moment in history. We are increasingly seeing countries, like China, Russia, and now the United States—or organized groups of nations like OPEC—use statecraft to control markets, coerce trade, and dominate strategic resources
Russia’s invasion of Ukraine and the weaponization of its natural gas resources marked the first time many countries were forced to think seriously about energy security. It was no longer OK to just consider availability and price—countries had to start considering where their energy comes from and who’s supplying it.
OPEC has historically been a stabilizing force for global oil prices, but in recent years, the consortium has used its supply to harm its rivals. In the early days of the COVID pandemic, OPEC—along with Russia—flooded an already oversupplied global market in a bid to push U.S. shale producers out, sending prices into negative territory. Today, the consortium continues to add barrels to undercut global oil prices and take back market share. Even our closest ally, the United States, has shown us something Canadians must never forget: We cannot put all our trust in one customer. The global energy superpowers of today have proven to be unreliable and insecure partners.
For Canada, the new global order is not an abstract debate. It is an urgent question: How should a resource-rich and trade-dependent nation position itself in a world where economic force, not market fairness, is setting the rules?
Yet Canada’s posture continues to be passive, with our oil and natural gas exports still incredibly tied to one customer and sold at a discount. Over the past 15 years, selling our oil at a discount to the U.S. has cost Canada’s economy nearly $50 billion USD. Looking at it another way, Canada has been subsidizing the U.S. economy to the tune of $3.3 billion per year.
Canada has some of the largest, untapped oil and natural gas reserves on the planet, with oil reserves larger than Russia’s, but we annually produce about half of their total.
The world’s energy demand is not shrinking. Population growth, modernization, and the electrification of economies—especially in the Global South—are driving record highs in consumption. Even in the Global North, the rise of artificial intelligence and data centres is accelerating the need for reliable power. The future will require more energy, not less, and Canada is uniquely positioned to deliver.
Why Canada? Reliability, reach, and responsibility
Superpower status is not just about what lies underground. It’s about reliability, reach, and responsibility. Canada is a stable democracy, respected for its environmental stewardship and human rights record. Our energy sector strives to always improve, spending billions annually on Indigenous partnerships, emissions reduction, and innovation.
To seize this opportunity, Canada must act decisively. Other countries have moved swiftly: the U.S. became the world’s top LNG exporter in under a decade; Germany built three LNG import terminals in one year. Canada cannot afford to delay. We must build the infrastructure, forge trusted partnerships, and be there when it counts.
The policy path forward
Becoming an energy superpower requires more than ambition—it demands pragmatic, predictable policies that foster investment, innovation, and collaboration. For too long, complex regulations and policy uncertainty have hindered development and driven investment elsewhere. Canada needs a clear-eyed view of global energy realities and collaboration between governments, industry, and stakeholders.
This means championing Canadian industry, simplifying climate policy to ensure competitiveness, and prioritizing Indigenous participation in project development. It means harmonizing federal and provincial regulations, supporting carbon capture and storage, and ensuring fiscal regimes are predictable and investment-friendly.
A nation-building opportunity
The benefits of energy superpower status extend far beyond economics. It’s about strengthening Canada’s sovereignty, funding our military, achieving meaningful reconciliation with Indigenous Peoples, and becoming the fastest-growing economy in the G7. Every region has a role to play—from British Columbia’s emerging LNG industry, and Alberta’s oil sands, to Atlantic Canada’s offshore potential, along with a national supply chain that reaches cities and towns right across the country.
Canadians are ready. Nearly eight in 10 Canadians now support nation-building projects like pipelines and LNG terminals. The business community is leaning in, and global partners are looking to Canada for leadership.
The window is open—but not forever
Canada has a rare chance to become the world’s next energy superpower. The window of opportunity is open, but it will close if we do not act quickly and decisively. By unlocking the full potential of our energy resources—conventional and clean—we can deliver prosperity, security, and leadership for generations to come.
Let’s not squander this moment. The world needs more Canadian energy. It’s time for Canada to step up and claim its place on the global stage.
