CALGARY – A group of top energy executives is calling on the leaders of the four federal political parties to declare a Canadian energy crisis and use emergency powers to help speed the development of key projects in the “national interest.”
In an open letter published Wednesday under the headline “Build Canada Now,” the CEOs of 10 major oil and natural gas companies and the four largest pipeline companies outlined their plan to strengthen Canadian economic sovereignty.
They called for a simplification of regulation and a commitment to firm six-month deadlines for project approvals.
They also want an elimination of the federal government’s cap on emissions, the repeal of the federal carbon levy on large emitters and loan guarantees to help Indigenous co-investment opportunities.
“We are at a turning point in Canada’s history and national interest,” the corporate leaders wrote to the Liberal, Conservative, NDP and Bloc Québécois leaders as an election call looms.
“There is increasing public support to urgently grow our energy sector and build energy infrastructure, including new oil and natural gas pipelines and (liquefied natural gas) terminals, to expand Canada’s energy exports.”
The letter comes as U.S. President Donald Trump threatens Canadian sovereignty and proposes massive tariffs on Canadian goods, including a 10 per cent levy on oil and natural gas. The Trump administration also aims to boost U.S. production, making it an increasingly formidable competitor.
“These are not normal times,” said Adam Waterous, executive chairman at Strathcona Resources Ltd., which produces oil and gas across Western Canada.
“Three months ago, we didn’t have the same Canadian consensus to urgently build these projects.”
Waterous, also CEO of Waterous Energy Fund, said he and other industry leaders have been deluged with inquiries from politicians, investors and the public about what can be done to boost Canada’s energy sovereignty.
“I think there’s been an awakening and more balance in the conversation around affordability, reliability and sustainability,” said François Poirier, chief executive at pipeline and power giant TC Energy Corp.
Poirier said that 15 years ago the LNG industry in Canada and the U.S. was just starting out. But now, Canada is only just about to commission its first facility on the West Coast while the U.S. is the world’s largest natural gas exporter.
“Fortunately for Canada, because of developments geopolitically, data centre demand for natural gas, the opportunity has come back around to us.”
Janetta McKenzie, oil and gas program director at the Pembina Institute clean energy think tank, said the executives’ letter is based on the premise that “doubling down on oil and gas is the thing that can meet this moment.”
She said it doesn’t recognize that trading partners like the European Union and United Kingdom have placed emissions standards on their oil and gas imports. She added oil and gas demand is likely to peak in the 2030s.
“This moment absolutely calls for decisive action, but we need to be strategic and responsible about which projects and industries are developed,” she said.
The United States, Russia and Saudi Arabia are the only G20 members that don’t have a national price on carbon, McKenzie said.
“Do we want to follow the United States in a race to the bottom when it comes to environmental and climate regulation?”
Waterous said it should be up to provinces to work out their own carbon-reduction policies.
Poirier added that LNG exports from Canada have the potential to displace more carbon intensive coal power elsewhere in the globe.
Alberta Premier Danielle Smith and Energy Minister Brian Jean praised the letter in a statement while taking partisan swipes.
The premier and minister said “multiple destructive energy policies” under the federal Liberals resulted in billions in projects being scrapped.
“Ottawa’s elected eco-extremists have done everything they can to keep our oil and gas in the ground — that has to change now.”
The CEOs’ letter does not spell out what legal mechanism could be used to declare an “energy crisis.”
Martin Olszynski, a resource law professor at the University of Calgary, said there is a seldom used constitutional power under the peace, order and good government section that could allow the federal government to pass temporary laws in a crisis.
Such a move would be “quite radical,” he said.
“I don’t see how anyone could credibly claim that we’re in an energy crisis in Canada at this moment.”
Olszynski also questioned the proposal for a six-month cap on review timelines. He said past attempts to speed up pipeline approvals have backfired by ratcheting up opposition and causing further delays.
“There’s absolutely discussions to be had about making sure that our systems are effective and efficient, but they still have to do the hard work of making sure that these projects are good.”
Olszynski said he would have liked to have seen the executives advocate for industries beyond their own, for instance by also taking a stand against barriers to renewable development.
“There is the potential for a grand national bargain here.”
This report by The Canadian Press was first published March 19, 2025.
Companies in this story: (TSX: ARX, TSX: VRN, TSX: PPL, TSX: IMO, TSX: ENB, TSX: CNQ, TSX: WCP, TSX: MEG, TSX: SU, TSX: CVE, TSX: TRP, TSX: TOU, TSX: SCR, TSX: SOBO)
