The Canadian Association of Petroleum Producers (CAPP) has shared its energy platform, which is a seven-point plan aiming to assist the Canadian government in unleashing its energy advantage.
To help Canada achieve this, CAPP’s energy platform outlined the following seven steps:
- Clear the roadblocks to building the infrastructure needed to connect Canadian energy to the world
- Immediately streamline approvals for major projects already within the federal review process
- Keep advancing emissions reduction technologies to enhance Canada’s environmental leadership and to keep its energy affordable and competitive
- Champion oil and natural gas as a key part of the country’s economic future
- Build with speed
- Use Canada’s abundant natural resources to improve energy security
- Tariff-proof the economy through growing and diversifying market access for Canadian oil and gas
“Our focus should be on building a tariff-proof economy, not just for oil and natural gas, but for all Canadian products,” said Lisa Baiton, CAPP’s president and chief executive officer, in the news release.
“This means building more pipelines, transportation corridors, LNG export facilities, expanding our ports – anything that provides Canadian businesses and Canadian products with direct access to global markets,” Baiton added in the CAPP’s news release.
Global landscape
“The global landscape is shifting rapidly,” Baiton said in the news release. “In recent weeks, it’s become clear our relationship with America has fundamentally changed—and we must act with urgency.”
The news release emphasised that the world has been becoming increasingly unpredictable, given ever-shifting trading patterns.
“Regardless of the threat of tariffs, the United States is making a seismic shift in its policy approach, making rapid reforms to climate, energy and tax frameworks,” Baiton said in the news release. “Canada must act just as quickly.”
Canada’s economy has found itself at a crossroads, the news release stressed.
“The choices we make today will determine whether we remain a global energy leader or fall behind,” Baiton said in the news release. “With decisive leadership, smart reforms, and a renewed commitment to investment, we can unlock our full energy potential, support our partners and make new ones, create jobs, and deliver a more prosperous future for all Canadians.”
The energy industry is well-positioned to serve as the foundation for encouraging new investments, considering that ideological policy has limited growth for nearly a decade, the news release said. The industry can help generate and support well-paying jobs and offer a stable yet affordable supply of energy to Canada and other countries, the news release added.
“Canada’s energy industry has long been a pillar of our economy, providing jobs, economic growth, and reliable energy,” Baiton said in the news release. “To help attract the next generation of investment and capture the opportunities ahead, the next federal government must actively promote oil and natural gas as a source of pride and a long-term cornerstone of our economy.”
The oil and gas industry can potentially assist in addressing Canada’s productivity and competitiveness challenges, as long as the proper policies and investment environment are in place, the news release said.
The news release urged federal leaders to clearly signal Canada as prepared to invite investment into its resource sector and to develop its role as a secure energy supplier to the rest of the globe.
Canada may possibly be facing an economic crisis, given that US President Donald Trump has threatened to enforce a trade barrier at America’s borders with Canada and Mexico via tariffs, said an article by Business Intelligence for B.C. (BIV).
Canada produces 5.7 million barrels of oil and 18.4 billion cubic feet of natural gas daily, which makes it the fourth biggest oil producer and the fourth biggest natural gas producer worldwide, BIV’s article noted.