Canada energy execs urge oil and gas investment to strengthen economic sovereignty

Today, an open letter from 14 CEOs representing the four largest pipeline companies and 10 largest oil and natural gas companies was delivered to Canada’s political party leaders. This is in answer to inquiries on how Canada can respond to escalating global energy security challenges and the urgent need for pragmatic energy strategies.

The open letter calls for a rapid, dramatic regulatory restructuring to enable investment in critical oil and natural gas infrastructure across Canada.

“Canadians now recognize the need for us to grow our energy sector and build energy infrastructure, including new oil and natural gas pipelines, and Liquefied Natural Gas (LNG) export terminals," wrote Adam Waterous, Executive Chairman, Strathcona Resources. "They want a country-wide push to champion our products and pipelines, and to unleash the potential of our natural resources. Everyone wants our country to continue to prosper and our export-focused economy to grow."

“Realizing Canada’s opportunity will take collaboration between industry, government and Canadians," added François Poirier, President and Chief Executive Officer, TC Energy. "Today, the federal government does not have the right policies, or the regulatory framework to support oil and natural gas investment. Delays in permitting processes for critical infrastructure often results in billions in lost economic opportunities for Canadians. It’s time for change. These are barriers we have imposed on ourselves that need to be removed, now."

Click here to read the full letter and view the signatories.