Energy CEOs to Canadian leaders: An urgent plan to strengthen economic sovereignty
Canadian energy industry CEOs have issued an urgent open letter to federal political leaders outlining a plan to strengthen Canada's economic sovereignty through energy sector development. The letter, signed by 14 CEOs from major pipeline and oil/natural gas companies, calls for dramatic regulatory restructuring to enable critical infrastructure investment.
The initiative, dubbed 'Build Canada Now', emphasizes five key actions: simplifying regulation by overhauling the Impact Assessment Act and West Coast tanker ban, implementing 6-month project approval deadlines, eliminating the federal emissions cap, repealing the federal carbon levy on large emitters, and providing Indigenous loan guarantees for infrastructure co-investment opportunities.
The CEOs argue that Canada, with its vast oil and natural gas reserves, can become a global leader in energy security by providing affordable, lower emission, responsibly produced energy. However, they stress that current federal policies and regulatory frameworks are creating barriers to investment, resulting in billions in lost economic opportunities.
I CEO dell'industria energetica canadese hanno inviato una lettera aperta urgente ai leader politici federali delineando un piano per rafforzare la sovranità economica del Canada attraverso lo sviluppo del settore energetico. La lettera, firmata da 14 CEO di importanti aziende di pipeline e di petrolio/gas naturale, chiede una drammatica ristrutturazione normativa per facilitare gli investimenti in infrastrutture critiche.
L'iniziativa, denominata 'Costruisci il Canada Ora', sottolinea cinque azioni chiave: semplificare la regolamentazione rivedendo la Legge sulla Valutazione dell'Impatto e il divieto di petroliere sulla Costa Ovest, implementare scadenze di approvazione dei progetti di 6 mesi, eliminare il tetto federale sulle emissioni, abrogare la tassa federale sul carbonio per i grandi emettitori e fornire garanzie sui prestiti per le opportunità di co-investimento in infrastrutture per le popolazioni indigene.
I CEO sostengono che il Canada, con le sue vaste riserve di petrolio e gas naturale, può diventare un leader globale nella sicurezza energetica fornendo energia accessibile, a basse emissioni e prodotta in modo responsabile. Tuttavia, sottolineano che le attuali politiche federali e i quadri normativi stanno creando barriere agli investimenti, portando a miliardi di opportunità economiche perse.
Los CEO de la industria energética canadiense han emitido una carta abierta urgente a los líderes políticos federales delineando un plan para fortalecer la soberanía económica de Canadá a través del desarrollo del sector energético. La carta, firmada por 14 CEO de importantes empresas de oleoductos y petróleo/gas natural, solicita una reestructuración regulatoria drástica para permitir la inversión en infraestructura crítica.
La iniciativa, denominada 'Construir Canadá Ahora', enfatiza cinco acciones clave: simplificar la regulación reformando la Ley de Evaluación de Impacto y la prohibición de buques cisterna en la Costa Oeste, implementar plazos de aprobación de proyectos de 6 meses, eliminar el límite federal de emisiones, derogar el impuesto federal al carbono para grandes emisores y proporcionar garantías de préstamos indígenas para oportunidades de co-inversión en infraestructura.
Los CEO argumentan que Canadá, con sus vastas reservas de petróleo y gas natural, puede convertirse en un líder global en seguridad energética al proporcionar energía asequible, de bajas emisiones y producida de manera responsable. Sin embargo, enfatizan que las políticas federales actuales y los marcos regulatorios están creando barreras para la inversión, resultando en miles de millones en oportunidades económicas perdidas.
캐나다 에너지 산업 CEO들이 연방 정치 지도자들에게 긴급 공개 서한을 발송하여 에너지 부문 개발을 통해 캐나다의 경제 주권을 강화할 계획을 설명했습니다. 이 서한은 주요 파이프라인 및 석유/천연가스 회사의 14명의 CEO가 서명하였으며, 중요한 인프라 투자 촉진을 위해 규제 구조의 대대적인 개편을 요구하고 있습니다.
이 이니셔티브는 '지금 캐나다 건설'이라고 명명되었으며, 다섯 가지 주요 행동을 강조합니다: 영향 평가법과 서부 해안 유조선 금지법을 개정하여 규제를 간소화하고, 6개월 프로젝트 승인 기한을 구현하며, 연방 배출 한계를 없애고, 대규모 배출자에 대한 연방 탄소세를 폐지하며, 인프라 공동 투자 기회를 위한 원주율 보증을 제공합니다.
CEO들은 캐나다가 방대한 석유 및 천연가스 매장량을 보유하고 있어 저렴하고 낮은 배출량의 책임감 있게 생산된 에너지를 제공함으로써 에너지 안보의 글로벌 리더가 될 수 있다고 주장합니다. 그러나 그들은 현재의 연방 정책과 규제 프레임워크가 투자에 대한 장벽을 형성하고 있어 수십억 달러의 경제적 기회를 잃게 만들고 있다고 강조합니다.
Les PDG de l'industrie énergétique canadienne ont adressé une lettre ouverte urgente aux dirigeants politiques fédéraux, exposant un plan pour renforcer la souveraineté économique du Canada par le développement du secteur énergétique. La lettre, signée par 14 PDG de grandes entreprises de pipelines et de pétrole/gaz naturel, appelle à une restructuration réglementaire drastique pour permettre l'investissement dans des infrastructures critiques.
L'initiative, surnommée 'Construire le Canada Maintenant', met l'accent sur cinq actions clés : simplifier la réglementation en révisant la Loi sur l'évaluation des impacts et l'interdiction des pétroliers sur la côte ouest, mettre en œuvre des délais d'approbation de projets de 6 mois, éliminer le plafond fédéral sur les émissions, abroger la taxe fédérale sur le carbone pour les grands émetteurs et fournir des garanties de prêt aux Autochtones pour des opportunités de co-investissement dans les infrastructures.
Les PDG soutiennent que le Canada, avec ses vastes réserves de pétrole et de gaz naturel, peut devenir un leader mondial en matière de sécurité énergétique en fournissant une énergie abordable, à faibles émissions et produite de manière responsable. Cependant, ils soulignent que les politiques fédérales actuelles et les cadres réglementaires créent des obstacles à l'investissement, entraînant des milliards de pertes d'opportunités économiques.
Die CEOs der kanadischen Energiebranche haben einen dringenden offenen Brief an die politischen Führer des Bundes geschickt, in dem sie einen Plan zur Stärkung der wirtschaftlichen Souveränität Kanadas durch die Entwicklung des Energiesektors skizzieren. Der Brief, der von 14 CEOs großer Pipeline- und Öl-/Erdgasunternehmen unterzeichnet wurde, fordert eine dramatische regulatorische Umstrukturierung, um Investitionen in kritische Infrastrukturen zu ermöglichen.
Die Initiative mit dem Namen 'Bau Kanada jetzt' betont fünf zentrale Maßnahmen: die Regulierung durch eine Überarbeitung des Gesetzes zur Auswirkungen von Projekten und des Tankerverbots an der Westküste zu vereinfachen, 6-monatige Genehmigungsfristen für Projekte einzuführen, die bundesweite Emissionsobergrenze abzuschaffen, die bundesweite Kohlenstoffabgabe für große Emittenten aufzuheben und indigenen Gemeinschaften Garantien für Infrastruktur-Co-Investitionsmöglichkeiten zu bieten.
Die CEOs argumentieren, dass Kanada mit seinen riesigen Öl- und Erdgasvorkommen ein globaler Führer in der Energiesicherheit werden kann, indem es erschwingliche, emissionsarme und verantwortungsbewusst produzierte Energie bereitstellt. Sie betonen jedoch, dass die aktuellen bundesstaatlichen Richtlinien und regulatorischen Rahmenbedingungen Investitionsbarrieren schaffen, was zu Milliarden von verlorenen wirtschaftlichen Chancen führt.
- Potential for increased energy infrastructure investment and development
- Proposed streamlining of regulatory approval process to 6 months
- Plan to create Indigenous co-investment opportunities in infrastructure
- Strategy to enhance Canada's position as global energy supplier
- Current regulatory framework causing billions in lost economic opportunities
- Existing Impact Assessment Act and tanker ban impeding development
- Federal carbon levy affecting global cost competitiveness
- Current federal policies deterring energy sector investment
- CEOs representing Canada’s energy industry released a letter to Canadian federal political leaders outlining an urgent action plan to strengthen Canadian economic sovereignty, through our energy industry.
- The open letter calls for a rapid, dramatic regulatory restructuring to enable investment in critical oil and natural gas infrastructure across Canada.
OTTAWA, Ontario, March 19, 2025 (GLOBE NEWSWIRE) -- This morning, an open letter from 14 CEOs representing the four largest pipeline companies and 10 largest oil and natural gas companies was delivered to Canada’s political party leaders. This is in answer to inquiries on how Canada can respond to escalating global energy security challenges and the urgent need for pragmatic energy strategies.
To read the full letter and view the signatories, please visit: http://www.tcenergy.com/open-letter-to-party-leaders
Build Canada Now
“It’s time for Canadians to claim our economic sovereignty. In recent months, each of us have been asked what needs to happen to ensure Canada has control over its economic destiny, and what we can do to make sure we have full access to global markets and trade. We are saying it’s time to roll up our sleeves as a country, and build needed energy structure,” says Adam Waterous, Executive Chairman, Strathcona Resources Ltd.
“Canadians now recognize the need for us to grow our energy sector and build energy infrastructure, including new oil and natural gas pipelines, and Liquefied Natural Gas (LNG) export terminals. They want a country-wide push to champion our products and pipelines, and to unleash the potential of our natural resources. Everyone wants our country to continue to prosper and our export-focused economy to grow,” he adds.
Canada has vast reserves of oil and natural gas, and credible forecasts predict they will remain amongst the world’s largest sources of energy for decades to come. Canada can provide for its own domestic needs, while also exporting around the world. The country can be a leader in global energy security by being a provider of affordable, lower emission, democratically and responsibly produced energy. Canada can compete against any major global energy producer.
“Realizing Canada’s opportunity will take collaboration between industry, government and Canadians. Today, the federal government does not have the right policies, or the regulatory framework to support oil and natural gas investment. Delays in permitting processes for critical infrastructure often results in billions in lost economic opportunities for Canadians. It’s time for change. These are barriers we have imposed on ourselves that need to be removed, now,” says François Poirier, President and Chief Executive Officer, TC Energy.
An action plan for Canadian leaders
The letter outlines a clear plan with five calls for action. For the oil and natural gas sector to expand and for energy infrastructure to be built, Canada’s federal political leaders need to:
- Simplify regulation. The federal government’s Impact Assessment Act and West Coast tanker ban are impeding development and need to be overhauled and simplified. Regulatory processes need to be streamlined, and decisions need to withstand judicial challenges.
- Commit to firm deadlines for project approvals. The federal government needs to reduce regulatory timelines so that major projects are approved within 6 months of application.
- Grow production. The federal government’s unlegislated cap on emissions must be eliminated to allow the sector to reach its full potential.
- Attract investment. The federal carbon levy on large emitters is not globally cost competitive and should be repealed to allow provincial governments to set more suitable carbon regulations.
- Incent Indigenous co-investment opportunities. The federal government needs to provide Indigenous loan guarantees at scale so industry may create infrastructure ownership opportunities to increase prosperity for communities and to ensure that Indigenous communities benefit from development.
All CEO signatories of the letter are ready and willing to engage so that energy projects move forward promptly, and construction of critical infrastructure can begin for the benefit of Canada and all Canadians.
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FAQ
What are the 5 key actions demanded by energy CEOs in their letter to Canadian leaders?
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