CALGARY — A group of energy sector chief 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 to the political leaders published Wednesday, the CEOs of 10 of the largest oil and natural gas companies and the four largest pipeline companies outlined their plan to strengthen Canadian economic sovereignty.
The executives 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 its 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.
The letter, he said, is "essentially a how-to guide" for decision makers in Ottawa.
Francois Poirier, chief executive at pipeline and power giant TC Energy Corp. agreed the public mood is shifting.
"I think there's been an awakening and more balance in the conversation around affordability, reliability and sustainability," he said.
"Geopolitical tensions, as well as some of the trade discussions that are ongoing between the United States and all of its counterparties are helping unite Canadians and helping Canadians understand the importance of diversifying its markets."
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.
In the G20, only three countries don't have a national price on carbon, the United States, Russia and Saudi Arabia, 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.
In the letter, the executives said "all plausible global outlooks forecast oil and natural gas remaining among the world’s largest sources of energy for decades to come."
Poirier added that LNG exports from Canada have the potential to displace more carbon intensive coal power elsewhere in the globe.
"This is not about relaxing our sustainability goals in the interest of economic prosperity," he said. "They're actually symbiotic objectives."
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)
Lauren Krugel, The Canadian Press
