Nearly 200 Canadian oil and gas executives signed an open letter to Prime Minister Mark Carney demanding sweeping regulatory changes they say are needed to unlock the country’s energy potential and reverse economic decline.
The letter, published by Enbridge and signed by CEOs from major companies including Suncor Energy, Imperial Oil, and TC Energy, argues Canada is “moving in the wrong direction” economically and missing a “generational opportunity” to become a global energy superpower.
The energy leaders are pushing for what they call a “Grand Bargain” — significant emissions reductions paired with expanded market access and increased oil and gas production. They argue that current federal policies create too much uncertainty for long-term investment.
Sponsored · Antimony Resources
“Canada is blessed with an enviable abundance of oil and natural gas resources,” the letter states, calling for urgent policy changes as Parliament resumes its fall session.
The executives outlined five key demands: dramatically simplifying regulations, including overhauling the Federal Impact Assessment Act and repealing the West Coast tanker ban; shortening project approval timelines from years to months; eliminating the federal emissions cap on oil and gas; repealing the carbon levy on large emitters; and providing Indigenous loan guarantees to create ownership opportunities.
The letter acknowledges some recent progress, including the launch of a new Major Projects Office and Indigenous Advisory Council, but argues these steps are insufficient to stimulate needed investment and growth.
Industry leaders say the changes would create thousands of high-paying jobs and strengthen Canada’s economy, while critics have previously argued that such deregulation could undermine environmental protections and climate commitments.
The letter is the third coordinated push by the energy sector since the federal election, with signatories including executives from pipeline companies, oil sands producers, and drilling contractors across western Canada.
Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
