With increased pipeline capacity following the completion of the Trans Mountain Expansion (TMX) and LNG Canada projects, combined with the new US administration’s strong interest in securing more affordable energy, CAOEC believes Canada’s growth potential in oil and gas is only expected to increase.
Caveat
But the Association also said policies like the oil and gas emissions cap and anti-greenwashing provisions in Bill C-59 have left Canada’s energy sector in a difficult position, weakening its investment climate and creating additional uncertainty at a time when affordability and global energy security are already under threat.
“The Trump administration will have profound implications for Canada’s economy as it adopts a pro-business agenda and seeks to expand the US energy sector,” CAOEC stated in a news release on Friday.
President and CEO Mark Scholz warned that unless Canada responds with its own pro-business and pro-development approach, Canadian families, particularly those who live in rural, remote, and Indigenous communities will be negatively impacted.
“Recent projects like LNG Canada and TMX, as well as the growth indicated in our 2025 Rig Forecast, have demonstrated that the energy sector not only helps sustain Canadian jobs but also strengthens our ability to support domestic and international consumers facing energy insecurity,” Scholz said.
The Association said it will continue to push for informed legislation that would allow Canada to strike a healthy balance between supporting a robust economy — preserving the jobs — and upholding environmental stewardship in the industry.
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This article was published by: Amanda Stutt
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