Energy CEOs to Canadian leaders: An urgent plan to strengthen economic sovereignty

Core Viewpoint - An open letter from 14 CEOs of major pipeline and oil and natural gas companies emphasizes the urgent need for Canada to enhance its energy infrastructure and regulatory framework to strengthen economic sovereignty and respond to global energy security challenges [1][7]. Group 1: Industry Needs and Opportunities - Canadians recognize the necessity to expand the energy sector and build infrastructure, including new oil and natural gas pipelines and LNG export terminals [3]. - Canada possesses vast reserves of oil and natural gas, projected to remain significant energy sources for decades, allowing the country to meet domestic needs and export globally [4]. - The country can lead in global energy security by providing affordable, lower-emission energy produced democratically and responsibly [4]. Group 2: Regulatory and Policy Recommendations - The letter outlines five key actions for federal political leaders to facilitate the expansion of the oil and natural gas sector and energy infrastructure [6]. - Regulatory frameworks, such as the Impact Assessment Act and West Coast tanker ban, need to be simplified to promote development [8]. - The federal government should commit to firm deadlines for project approvals, aiming for major projects to be approved within six months of application [8]. Group 3: Investment and Collaboration - The federal government's unlegislated cap on emissions should be eliminated to allow the sector to reach its full production potential [8]. - The carbon levy on large emitters is deemed not globally competitive and should be repealed to enable provinces to establish more suitable carbon regulations [8]. - Indigenous co-investment opportunities should be incentivized through federal loan guarantees to enhance community prosperity and ensure benefits from development [8].