Prime Minister Mark Carney met with more than two dozen oil and gas executives in Calgary on Sunday, promising closer federal partnerships with the energy sector as part of his plan to make Canada an “energy superpower.”
The closed-door roundtable marked Carney’s first visit to Calgary since being sworn in as prime minister. Attendees included CEOs from major companies including Tourmaline Oil, Imperial Oil, Cenovus Energy, and ATCO.
“Partnership is a theme for our discussion this morning,” Carney told reporters before they were asked to leave the meeting at the Harry Hays building. “The imperative of making Canada an energy superpower in all respects has never been greater.”
The meeting follows a letter from 38 Canadian energy company CEOs congratulating Carney on his election victory while requesting policy changes including scrapping federal emissions caps and overhauling project assessment processes.
Carney campaigned on expediting reviews of major energy infrastructure projects through a “one project, one review” approach that would recognize provincial and territorial assessments.
The federal government maintains proposed emissions cap regulations unveiled late last year requiring upstream oil and gas operations to reduce emissions 35% below 2019 levels by 2030-2032.
The emissions requirements highlight tensions between federal climate goals and provincial economic priorities. Provincial leaders gathering in Saskatoon Monday will discuss infrastructure priorities and reducing trade barriers between provinces. Alberta Premier Danielle Smith met with Carney at a Sunday evening reception and expressed optimism about finding “common ground.”
Related: Danielle Smith Demands Energy Guarantees, Opens Door to Separation Vote
Also read: Mark Carney Wants More Than Pipelines
The industry also wants changes to federal project assessment rules and the elimination of restrictions on large tanker traffic along British Columbia’s coast. They want federal support for pipeline projects to boost Canadian crude exports. Previous pipeline proposals have faced opposition from climate activists and some Indigenous communities.
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.
