Industry leaders call for emergency powers to accelerate energy projects amid rising trade tensions
Energy sector executives are urging Canada’s federal party leaders to declare a national energy crisis and invoke emergency powers to accelerate key infrastructure projects, as reported by BNN Bloomberg.
In an open letter released Wednesday, the CEOs of 10 major oil and gas companies, along with four leading pipeline firms, outlined their recommendations for bolstering economic sovereignty.
The executives proposed several measures, including streamlined regulations, six-month deadlines for project approvals, and the removal of the federal emissions cap.
They also called for repealing the carbon levy on large emitters and introducing loan guarantees to support Indigenous co-investment.
Addressed to the leaders of the Liberal, Conservative, NDP, and Bloc Québécois parties, the letter emphasized the growing public demand for energy expansion.
“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 stated.
The push for accelerated energy development comes amid economic tensions with the United States.
US President Donald Trump has proposed a 10 percent tariff on Canadian oil and natural gas and is advancing policies to increase US production, intensifying competition.
Adam Waterous, executive chair at Strathcona Resources Ltd. and CEO of Waterous Energy Fund, highlighted the urgency of the situation.
“These are not normal times,” he said, noting that only three months ago, there was no broad consensus on the need for rapid project approvals.
Waterous described the letter as a practical guide for decision-makers, reflecting rising interest from politicians, investors, and the public in strengthening Canada’s energy sector.
Francois Poirier, CEO of TC Energy Corp., pointed to a shift in public perception.
“I think there’s been an awakening and more balance in the conversation around affordability, reliability, and sustainability,” he said.
He added that geopolitical tensions and global trade negotiations are reinforcing the need for Canada to diversify its energy markets.
Poirier noted that while the liquefied natural gas (LNG) industry in North America took off 15 years ago, Canada is only now preparing to launch its first West Coast LNG facility. Meanwhile, the US has become the world’s top exporter of natural gas.
“Fortunately for Canada, because of developments geopolitically, data centre demand for natural gas, the opportunity has come back around to us,” he said.
Not all industry experts support the executives’ approach. Janetta McKenzie, oil and gas program director at the Pembina Institute, argued that the proposal focuses too much on oil and gas expansion.
“Doubling down on oil and gas is the thing that can meet this moment,” she said, questioning whether that strategy aligns with evolving global standards.
She pointed out that Canada’s key trading partners, including the European Union and the UK, have implemented emissions restrictions on oil and gas imports and noted that demand is projected 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,” McKenzie said.
She also highlighted that only three G20 countries—the United States, Russia, and Saudi Arabia—lack a national carbon price, raising concerns about the regulatory direction Canada should take.
“Do we want to follow the United States in a race to the bottom when it comes to environmental and climate regulation?” she asked.
Waterous countered that provinces should have control over their own carbon-reduction strategies.
The letter also stated that “all plausible global outlooks forecast oil and natural gas remaining among the world’s largest sources of energy for decades to come.”
Poirier argued that Canadian LNG exports could play a role in reducing global emissions by displacing coal power.
He said the goal is not to relax sustainability commitments for economic prosperity, adding, “They’re actually symbiotic objectives.”
