US EditionCanadian oil and gas industry ready to work with Carney on ‘energy superpower’ promise
- On May 2, 2025, Canadian oil and gas leaders expressed readiness to collaborate with Prime Minister Mark Carney, who pledged to transform Canada into an energy superpower.
- This development follows years of regulatory challenges and federal policies perceived as harmful to the sector, including emissions caps and complex pipeline assessments, despite historic profits and record oil production.
- Carney's platform includes building energy corridors, establishing a federal project office to speed pipeline approvals within two years, and pursuing greater energy trade beyond the U.S., amid investor caution and provincial calls for respect and partnership.
- Industry leaders like Lisa Baiton and Mark Scholz emphasized readiness to expand development and infrastructure, while executives like Adam Waterous foresee more state-owned pipelines due to private sector impediments, citing, "They can't be built by the private sector."
- The outcome suggests cautious optimism, with stakeholders urging Carney to balance regulatory reform and climate commitments to strengthen Canada’s energy security, competitiveness, and economic sovereignty amid global uncertainty.
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ANALYSIS | An energy superpower? Oilpatch skeptical of Carney's support for the sector
Despite Mark Carney's pledges throughout the election campaign to kick-start the country's economy, build energy corridors and transform the country into an energy superpower, many in the oilpatch are unconvinced there will be any change in policy direction from the re-elected federal Liberals.
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Total News Sources13
Leaning Left2Leaning Right5Center4Last UpdatedBias Distribution45% Right
Bias Distribution
- 45% of the sources lean Right
45% Right
L 18%
C 36%
R 45%
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