Let’s build Canada now – or risk falling behind

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Greg Ebel is president and chief executive officer of Enbridge.

Seventy years ago, Canada made a choice that helped to define a century – and build our economy.

We built the St. Lawrence Seaway, a monumental project that connected our products to the world. Prairie grain flowed to Europe, Ontario manufactured goods reached farther afield, and Canadian ambition met global demand. The lesson was clear: When Canada builds, Canada prospers.

Today, we face another defining moment. The world is rewiring supply chains and data centres. Energy security is now synonymous with national and economic security. Capital is flowing toward countries that can move with certainty and speed.

The question before us is simple: Will we have the courage to build again, and can we build fast enough – or will we sit idly by as others benefit?

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Over the past 10 years, Canada chose not to compete. Projects that could have driven economic growth were stalled by regulatory hurdles. Global investors, uncertain of timelines or outcomes, looked elsewhere. We missed a moment.

Canada has a second chance to make the most of its resources advantage. This week, Alberta announced that it will back and develop a pipeline proposal with an advisory group made of industry players, including Enbridge. The Public Policy Forum estimates more than $600-billion worth of resource and infrastructure projects are already proposed or active. Moving decisively could add $1.1-trillion in GDP by 2035.

That’s real, measurable prosperity – waiting to be unlocked. All at a time when global demand is undeniable. All we lack is a sense of urgency.

Last spring, 38 Canadian energy CEOs wrote to the Prime Minister to recommend five actions that Canada needs to take to help it compete. We recently followed that up with another letter at the fall opening of Parliament – this letter signed by nearly 100 business leaders – that calls on the new government to match our sense of urgency.

These are not radical ideas. They are pragmatic steps that fulfill the Prime Minister’s goal of creating a global energy superpower.

First, smarter regulation. No one is calling for weaker environmental oversight. But processes must be faster and more predictable. At present, projects with great economics, strong Indigenous support and sound environmental safeguards can languish for years. Delay discourages investment.

Second, shorter timelines. Major project approval in Canada can take five years or more. In a fast-moving world, that’s a competitive liability. The government’s pledge to complete federal reviews of major projects within two years is a good start, but with digital permitting and concurrent reviews, certainly smaller projects should take even less time. To compete today we need to be faster than others.

Third, sensible standards. Canada’s emissions cap on oil and gas adds uncertainty just as companies are investing in cleaner operations. Canada’s share of global emissions declined to 1.42 per cent in 2022 from 1.75 per cent in 2006. We are positioned to help other countries move away from coal – a net global benefit. Policy should encourage that role to support our industries – not undermine them.

Fourth, coherent carbon policy. Canada should not be applying some of the world’s highest carbon levies on its major energy producers and exporters. Overlapping rules and inconsistent frameworks create confusion. Clearer rules and a system that empowers provinces, protects export industries, and rewards innovation would draw investor capital, not deter it.

Finally, Indigenous equity. Real reconciliation requires shared prosperity. The Indigenous Loan Guarantee Program is a start. This spring, a $400-million loan helped First Nations acquire a 12.5-per-cent stake in Enbridge’s natural gas pipeline system in B.C. These partnerships shorten timelines, strengthen governance, and ensure benefits are more broadly shared. Let’s expand the program.

Canadians grasp the importance of this moment. Support for energy investment and new pipelines is climbing, with nearly three-quarters of Canadians in favour. More than 70 per cent agree we can build while cutting emissions. The public is pragmatic: They want projects that are responsible, deliver results and share benefits.

Canada has always been a nation of builders. From the railway to the seaway, we have proven that big projects strengthen our country – and help us play a larger role on the world stage. The world benefits from our values, our innovation, our initiative, and now it’s time they fully benefit from our natural resources.

Let’s build Canada now, so we can help build a better world tomorrow.