EXCLUSIVE: Enbridge CEO: Canada standing in its own way in becoming an energy superpower

Enbridge CEO Greg Ebel is urging the federal government to make several changes before his company could commit to being a proponent of a new pipeline.

The CEO of North America’s largest energy infrastructure company says Canada can “absolutely” be an energy superpower — but federal government regulations are standing in the way.

In an exclusive broadcast with CTV’s Power Play, Enbridge CEO Greg Ebel says Canada has the tools to dominate the global energy landscape, with supplies of uranium, natural gas, oil, and gold.

“We have everything set up,” he told host Mike Le Couteur. “The only thing that’s stopping us is ourselves.”

On Wednesday, Alberta announced it will commit $14 million to support a new pipeline to northwestern B.C. The province is leading a technical advisory group involving three major pipeline companies — Enbridge, South Bow and Trans Mountain — which will provide counsel on the proposal, though none of those companies would be obligated to be involved in the project.

While Alta. Premier Danielle Smith says she hopes the pipeline will make the federal government’s next phase of major projects, B.C. Premier David Eby has sharply criticized Smith, telling reporters the proposal “is not a real project.”

He notes it would require a lifting of the federal government’s oil tanker ban, which he says is “foundational” for British Columbians who value the province’s coast.

Ebel says that while Enbridge would “entertain the possibility” of becoming a project proponent, the current regulatory conditions are a barrier.

“You’re not going to build a pipeline to nowhere, so if the tanker ban is there, why would you build a pipeline to the west coast?” he said.

Enbridge has been involved in many pipeline projects proposals in the past, including the ill-fated Northern Gateway pipeline project from Alberta to B.C., which was cancelled in 2016.

“I don’t think you have to look too far to see concrete, real examples of Enbridge and other pipelines being willing to be the proponent of a pipeline, if the conditions are set. Capital will go to where the conditions are set, and today, the conditions are not set for that pipeline to exist,” Ebel said.

On April 30, Enbridge wrote a letter to Prime Minister Mark Carney on behalf of leading energy companies, outlining an action plan to support investment in the Canadian energy sector. Among the requests was an elimination of the emissions cap and industrial carbon levy to allow the sector to “reach its full potential.”

The company wrote another open letter on Sept. 15 with the same requests, writing that though the launch of the federal government’s new Major Projects Office is a “crucial step in the right direction” in becoming an energy superpower, regulations still impede that vision.

When asked by Le Couteur if it matters whether it’s a blanket removal of all these regulations to enable Canada to become an energy superpower, Ebel says having “bespoke regulation is not a great way to formulate capital and bring it together.”

“I think what you would be better off doing is creating the conditions across the entire country that will allow capital to come and these projects to be pursued,” he said.

In a statement to CTV News, Energy and Natural Resources Minister Tim Hodgson did not express explicit support for Alberta’s proposal to be the proponent of a pipeline, but said the province has the “right to do so.”

“We have an active and constructive dialogue with Alberta and will always look for ways to advance shared priorities,” part of the statement read.

Meanwhile, Conservative Leader Pierre Poilievre has continued to criticize the federal Liberal government, saying Carney needs to “get out of the way” for a pipeline to be built.

When it comes to federal leadership, Ebel says he believes Carney recognizes that it’s a competitive world and Canada has the products, but government regulation is standing in the way of taking advantage of global demand.

“On election night, I believe he said, ‘Build, baby, build.’ I think those words matter. I love that enthusiasm. I think he recognizes we have been uncompetitive for the last 10 years, and he knows that changes have to be made,” Ebel said. “I support him in that, and look forward to those changes actually coming to fruition.”

You can watch CTV Power Play’s full interview with Enbridge CEO Greg Ebel at the top of this article.

With files from CTV News’ Stephanie Ha