‘Capture this opportunity’: Energy execs push for fossil fuel development

Canadian oil and gas leaders are pushing expansion amid economic uncertainty. Several sent a letter to federal party leaders. Environmental groups are concerned

With a federal election approaching and economic concerns rising over potential U.S. tariffs, leaders of Canada’s oil and gas industry are urging political parties to fast-track fossil fuel development.

But environmental advocates are condemning the move, calling it an attempt to dismantle climate progress.

“Oil and gas companies want to take a page from the Trump playbook and gut all of the progress that Canadians have made,” Environmental Defence said in a statement on Wednesday.

“For decades, these companies have stood in the way of climate progress – while their pollution continues to skyrocket.”

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In a letter to federal leaders, 14 energy executives from companies such as TC Energy, Enbridge, Suncor and Imperial Oil called for policy changes to speed up pipelines, liquefied natural gas (LNG) terminals and investment in the sector.

They argued that boosting oil and gas exports is critical for economic sovereignty and global energy security.

“As leaders of Canadian energy companies representing tens of thousands of Canadian workers, we are responsible for the majority of oil and gas production and pipelines in the country,” the letter said.

“We want to share our perspectives on global energy, our vision for Canada’s role, and what is required to capture this opportunity.”

The executives also urged Ottawa to streamline regulations, set firm deadlines for project approvals and eliminate what they describe as investment barriers, including the federal carbon pricing system.

They also called for Indigenous co-investment opportunities through loan guarantees.

“Realizing Canada’s opportunity will take collaboration between industry, government and Canadians,” said François Poirier, president and CEO of TC Energy, in a statement.

“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.”

The letter argues that increasing Canadian oil and gas production could alleviate global energy poverty while reducing emissions by replacing coal-fired power with Canadian LNG.

Critics are concerned about the message being sent to Ottawa.

“This is Canada’s time to forge our own future based on our own values,” Environmental Defence said.

“We can’t allow oil and gas companies to put Canada’s hard-fought, years-long climate progress at risk to benefit their wealthy CEOs and American shareholders.”

The advocacy group argued that Canada should invest in clean energy industries such as low-carbon steel, aluminum and renewable electricity instead of expanding fossil fuel production.

With growing public interest in domestic infrastructure and economic independence, energy policy is expected to be a key issue in the upcoming election.

Federal leaders have not yet responded to the industry’s letter.