Energy Executives Call for Declaration of Energy Crisis, Use of Emergency Powers
In a bold move, energy sector leaders in Canada are urging federal political leaders to declare a national energy crisis and invoke emergency powers to fast-track critical energy projects. This call to action, outlined in an open letter to the leaders of the Liberal, Conservative, NDP, and Bloc Québécois parties, has sparked intense debate about the future of Canada’s energy policy.
The letter, signed by CEOs from 10 major oil and natural gas companies and four of the largest pipeline firms, argues that such measures are necessary to bolster Canada’s economic sovereignty. The executives emphasize growing public support for expanding the energy sector, particularly through the development of new infrastructure like oil and natural gas pipelines and LNG terminals.
This push comes amid heightened tensions with the U.S., as President Donald Trump has proposed significant tariffs on Canadian goods, including a 10% levy on oil and natural gas. The executives warn that these tariffs threaten Canada’s economic stability and energy exports.
At the heart of their proposal are five key demands: simplifying regulations, committing to six-month deadlines for project approvals, removing the federal emissions cap, repealing the federal carbon levy on large emitters, and providing loan guarantees to support Indigenous co-investment opportunities.
Adam Waterous, executive chairman at Strathcona Resources Ltd. and CEO of the Waterous Energy Fund, highlighted the urgency of the situation. He pointed to a recent shift in Canadian public opinion, with increasing support for rapid project approvals over the past three months. “The consensus in Canada is changing,” Waterous said. “People are recognizing the need for swift action to secure our energy future.”
François Poirier, CEO of TC Energy Corp., echoed this sentiment, noting a growing “awakening” in public perception. “Canadians are increasingly focused on affordability, reliability, and sustainability in the energy sector,” Poirier said. “We need policies that reflect these priorities.”
The executives argue that expanding Canada’s energy exports, particularly through LNG, could help reduce global emissions by displacing coal power in other countries. They also stress that oil and natural gas are expected to remain among the world’s largest energy sources for decades to come.
However, not all experts agree with this approach. Janetta McKenzie, oil and gas program director at the Pembina Institute, questioned whether a heavy focus on oil and gas expansion aligns with global climate goals. “Canada’s key trading partners, like the European Union and the UK, are implementing strict emissions standards on oil and gas imports,” McKenzie noted. “Global demand for fossil fuels is expected to peak in the 2030s. We need to ensure our energy strategy reflects these realities.”
The letter has ignited a broader conversation about Canada’s energy policy, balancing economic competitiveness with climate action. As the debate unfolds, one thing is clear: the path forward will have far-reaching implications for the nation’s energy landscape.
Energy Executives Call for Declaration of Energy Crisis, Use of Emergency Powers
In a bold move, energy sector leaders in Canada are urging federal political leaders to declare a national energy crisis and invoke emergency powers to fast-track critical energy projects. This call to action, outlined in an open letter to the leaders of the Liberal, Conservative, NDP, and Bloc Québécois parties, has sparked intense debate about the future of Canada’s energy policy.
The letter, signed by CEOs from 10 major oil and natural gas companies and four of the largest pipeline firms, argues that such measures are necessary to bolster Canada’s economic sovereignty. The executives emphasize growing public support for expanding the energy sector, particularly through the development of new infrastructure like oil and natural gas pipelines and LNG terminals.
This push comes amid heightened tensions with the U.S., as President Donald Trump has proposed significant tariffs on Canadian goods, including a 10% levy on oil and natural gas. The executives warn that these tariffs threaten Canada’s economic stability and energy exports.
At the heart of their proposal are five key demands: simplifying regulations, committing to six-month deadlines for project approvals, removing the federal emissions cap, repealing the federal carbon levy on large emitters, and providing loan guarantees to support Indigenous co-investment opportunities.
Adam Waterous, executive chairman at Strathcona Resources Ltd. and CEO of the Waterous Energy Fund, highlighted the urgency of the situation. He pointed to a recent shift in Canadian public opinion, with increasing support for rapid project approvals over the past three months. “The consensus in Canada is changing,” Waterous said. “People are recognizing the need for swift action to secure our energy future.”
François Poirier, CEO of TC Energy Corp., echoed this sentiment, noting a growing “awakening” in public perception. “Canadians are increasingly focused on affordability, reliability, and sustainability in the energy sector,” Poirier said. “We need policies that reflect these priorities.”
The executives argue that expanding Canada’s energy exports, particularly through LNG, could help reduce global emissions by displacing coal power in other countries. They also stress that oil and natural gas are expected to remain among the world’s largest energy sources for decades to come.
However, not all experts agree with this approach. Janetta McKenzie, oil and gas program director at the Pembina Institute, questioned whether a heavy focus on oil and gas expansion aligns with global climate goals. “Canada’s key trading partners, like the European Union and the UK, are implementing strict emissions standards on oil and gas imports,” McKenzie noted. “Global demand for fossil fuels is expected to peak in the 2030s. We need to ensure our energy strategy reflects these realities.”
The letter has ignited a broader conversation about Canada’s energy policy, balancing economic competitiveness with climate action. As the debate unfolds, one thing is clear: the path forward will have far-reaching implications for the nation’s energy landscape.
Conclusion
The call by Canadian energy executives for a national energy crisis declaration and the use of emergency powers underscores the growing urgency to address the nation’s energy policy. With mounting economic pressures, including U.S. tariffs, and shifting public sentiment, the sector is pushing for streamlined regulations and faster project approvals. While the proposal aims to bolster economic sovereignty and energy exports, critics caution against aligning policy with global climate goals. As the debate continues, Canada faces a critical juncture in balancing economic competitiveness with environmental responsibility, shaping the future of its energy landscape.
Frequently Asked Questions
Why are energy executives calling for a national energy crisis declaration?
Energy executives are urging the Canadian government to declare a national energy crisis due to economic threats like U.S. tariffs on Canadian energy products and the need to fast-track critical energy projects. They argue this will strengthen economic stability and energy exports.
What are the five key demands of the energy executives?
The executives are calling for: 1) simplified regulations, 2) six-month deadlines for project approvals, 3) removal of the federal emissions cap, 4) repeal of the federal carbon levy on large emitters, and 5) loan guarantees for Indigenous co-investment opportunities.
Do all experts agree with this approach to energy policy?
No, not all experts agree. Critics, like Janetta McKenzie of the Pembina Institute, argue that focusing heavily on oil and gas expansion may conflict with global climate goals and shifting demand for fossil fuels.
How could expanding LNG exports reduce global emissions?
Executives argue that Canadian LNG could replace coal power in other countries, reducing global emissions. They also emphasize that oil and natural gas will remain significant energy sources for decades.
What are the implications of this proposal for Canada’s energy future?
The proposal could significantly impact Canada’s energy policy, balancing economic growth with climate action. The outcome will shape the nation’s energy strategy and its role in global energy markets for years to come.
