A group of 14 energy CEOs have written to all major federal governments urging them to declare a “energy crisis” in Canada, use emergency to ease regulations within the industry and raise production levels.
CEOs representing Canada’s 10 largest oil and gas companies and four largest pipeline companies have proposed several measures to support oil and natural gas investments and “remove the barriers they have imposed on themselves over time.”
The letter was addressed to Prime Minister Mark Carney, conservative leader Pierre Polyeave, NDP leader Jagmeet Singh, and Brock Quebecoa leader Yves François Blanchett.
The CEO is calling for simplification of regulations by amending or repealing BC’s North Coast Impact Assessment Act and the ban on oil tankers. They also require reduced regulatory timelines to allow approval of major projects within six months of application, as well as providing loan guarantees to Indigenous communities to ensure the benefits of development.
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Additionally, the letter calls for state governments to abolish carbon taxes in order to “set better carbon regulations.”
Carney announced on March 15 that the consumer carbon tax was reduced to zero, and plans to replace it with a system that rewards Canadians who make greener choices while creating “big polluters” on the system’s payroll.
In the letter, the CEO said that amidst the threat of US tariffs, there is a “increased general support” to build new energy infrastructures such as oil and natural gas pipelines and liquid natural gas terminals.
