CEOs call on Carney to ‘take action’ to support domestic energy sector

By Canadian Press on May 7, 2025.

OTTAWA — Canada’s energy CEOs are calling on Prime Minister Mark Carney to claw back some regulations to bolster the oil and gas sector.

In a letter signed by 38 CEOs of Canadian energy companies the day after the election, the industry pitched five suggestions to support investment.

They include overhauling the government’s impact assessment process and reducing regulatory timelines to get projects completed faster.

Carney campaigned on boosting Canada’s energy independence and expediting the review process for major energy projects.

The industry leaders also called on the prime minister to eliminate the emissions cap on oil and gas production and the industrial carbon pricing system, arguing that the provinces should be setting carbon regulations.

Carney has said he’ll keep the emissions cap in place — despite pressure from Alberta Premier Danielle Smith to repeal it — and also ran on a promise to strengthen industrial carbon pricing.

This report by The Canadian Press was first published May 7, 2025.

The Canadian Press