Carney promises new approach to turn Canada into 'energy superpower'
The approach, he promised, will disrupt Canada's energy reliance on the U.S. while building up domestic clean energy sources and encourage a long-term competitive economy
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Liberal Leader Mark Carney promised a robust approach to disrupt Canada’s energy reliance on the U.S. and turn the country into a “leading energy superpower,” during an event in Calgary on Wednesday.
The approach comes with three objectives — energy security, trade diversification and long-term competitiveness — Carney said at the International Association Of Bridge Structural, Ornamental and Reinforcing Iron Workers Local Union 725 building.
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“As a nation, we’ve played it too safe by relying on the United States,” Carney said. “It’s time to realize our full potential.”
The remarks come in the midst of trade tensions with the U.S.
President Donald Trump on Wednesday announced a 90-day pause on all new global tariffs, except for those on China, but Canada continues to reel from previous tariffs placed on aluminum, steel and the auto industry.
Since March 4, Trump has also placed a 10 per cent tariff on all energy and potash exports from Canada.
The new measures, Carney said, would reduce a reliance on the U.S. by replacing imported U.S. energy with domestic product, and developing clean energy and lowest-carbon conventional energy sources to build a competitive economy.
His plan to develop clean energy will mean investing in critical mineral projects, accelerating exploration and extraction from recycling, and connecting projects to a supply chain via a newly introduced First and Last Mile Fund.
“Getting these projects built faster while creating good-paying jobs,” he said.
Carney promised to fast-track clean energy projects, working with provinces, territories and Indigenous groups to identify those of national interest and incentivize them using the current federal suite of tax credits and the Canada Growth Fund. He also vowed to ensure projects only go through one review — upholding environmental standards and Indigenous consultation — issuing decisions within two years instead of five.
Funding for Indigenous communities to engage on projects early and consistently will be doubled, he added.
Carney has also promised new national trade and energy corridors between federal, provincial and territorial governments via a $5-billion Trade Diversification Corridor Fund.
He also promised to build an east-to-west electricity grid to ensure Canadians’ access to clean and domestic electricity.
Carney said his approach “catalyzes enormous private investment to get Canada building again, while spending less by balancing our operating budget,” he said, “rather than pursuing austerity that will leave us dangerously reliant on the United States.”
The Liberal announcement in Calgary on Wednesday marks the second time this week a federal party leader has addressed the approval of major resource projects.
Speaking on Monday in Terrace, B.C., federal Conservative Leader Pierre Poilievre announced a similar plan to speed up the process.
He said each project would have one application and one environment review, adding he would work with provinces to create a single office to co-ordinate project approvals across all levels of government.
Poilievre promised to rapidly approve 10 projects he said are stuck in what he deemed as a federal review limbo, including LNG Canada Phase II, a liquefied natural gas project in northern B.C.
Another is an oilsands expansion project by Suncor in Alberta that has been under assessment since 2020. In 2022, then-Liberal Environment Minister Steven Guilbeault told Suncor in a letter that the project “would likely cause unacceptable environmental effects within federal jurisdiction.”
— With files from The Canadian Press and Postmedia
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