The CEOs of 14 major Canadian oil and natural gas companies, including several operating in the Peace Region, have issued an urgent call to federal party leaders to bolster the country’s economic sovereignty.
In an open letter sent Wednesday morning to Mark Carney, Pierre Poilievre, Jagmeet Singh, and Yves-François Blanchet, the executives outlined a series of measures to address Canada’s energy security challenges.
They propose simplifying regulations, setting firm project approval deadlines, eliminating the 35 per cent emissions cap, repeal the carbon levy to attract investment, and support Indigenous co-investment opportunities.
“Today, the federal government does not have the right policies, or the regulatory framework to support oil and natural gas investment,” said François Poirier, President and CEO of TC Energy in a news release. “It’s time for change. These are barriers we have imposed on ourselves that need to be removed, now.”
The CEOs say there is a need for collaboration between industry, government, and residents to unlock Canada’s full energy potential.
They argued that expanding energy exports, particularly in the oil and gas sector, would boost the economy, create jobs, and position Canada as a reliable energy provider to its allies.
“All plausible global outlooks forecast oil and natural gas remaining amongst the world’s largest sources of energy for decades to come,” read the letter. “With a strong commitment to environmental stewardship, Canada can be the global leader in ensuring energy security by being the provider of affordable, democratically produced energy to people around the world, including allies with shared values.”
The letter, published by TC Energy, also highlighted Canada’s potential to combat global energy poverty and reduce carbon emissions through liquefied natural gas (LNG) and carbon capture technologies.
Among the signatories with operations in the Peace Region are Canadian Natural Resources, Tourmaline, Pembina Pipeline, and ARC Resources, and Strathcona Resources.
The letter comes as U.S. President Donald Trump hit Canada with a 10 per cent tariff on oil and gas exports earlier this month.