Ninety-six executives from Canada’s oil and gas sector have signed an open letter to Prime Minister Mark Carney, urging the federal government to take stronger action to support resource development. The letter, titled “Build Canada Now”, argues that regulatory and fiscal barriers are discouraging investment and preventing the industry from reaching its full potential.

The signatories, which include senior leaders from companies such as Suncor Energy and Enbridge, say that while recent steps like the creation of a Major Projects Office and an Indigenous advisory council are positive, they fall short of what is needed to ensure long-term growth.

Main concerns raised by the industry

• Regulatory hurdles: The letter points to measures such as the Impact Assessment Act, proposed emissions caps, and tanker restrictions as creating uncertainty and delays for major projects.

• Investment climate: Executives argue that Canada lacks clear and competitive policies compared to other jurisdictions, which makes it harder to attract and retain investment.

• Economic opportunity: The industry maintains that oil and natural gas development could create jobs and generate significant economic activity, but only if conditions are improved.

Proposals in the open letter

The group is calling for:

1. Simplified and more predictable project approval processes.
2. Clear timelines for regulatory decisions.
3. Reconsideration of policies that restrict operations, such as unlegislated emissions caps.
4. A more competitive fiscal framework, including changes to how carbon costs are applied to major emitters.
5. Greater roles for provinces and stronger opportunities for Indigenous communities to participate as partners in projects.

Broader implications

The executives warn that without prompt action, Canada could miss what they describe as a “generational opportunity” to strengthen its economy and support global energy needs. They argue that delays and regulatory uncertainty risk driving away investment and reducing Canada’s competitiveness.

The letter concludes by stating that industry leaders are ready to work with the federal government, provinces, and Indigenous communities to build a more reliable framework for resource development.

Ever wonder why your streaming bills keep going up? If your first thought is something along the lines of “greedy corporations”, you may be missing something.

Parliamentary records show that the Canadian Radio-television and Telecommunications Commission (CRTC) has spent more than $15 million so far implementing the federal Online Streaming Act (Bill C-11).

Of that amount, $11.9 million went toward salaries and $3.3 million covered operational costs. Roughly $9 million was spent in the 2024-25 fiscal year alone. Looking ahead, the regulator estimates it will require about $9.7 million annually to sustain the program.

To cover these costs, the CRTC has invoiced streaming services $19.9 million for 2024-25, with collections projected to rise to $22.9 million in 2025-26. The Commission confirmed these revenues will be used to fund the regulatory system itself rather than directly supporting Canadian creators. Currently, 59 full-time employees are assigned to enforcing the law.

How do streaming services cover those additional costs? Have a look at your streaming bills from 2022 and compare it to today!

Bill C-11 expands the CRTC’s authority over online streaming platforms, requiring them to promote Canadian content and comply with new reporting and funding rules. Supporters argue this will ensure Canadian voices remain visible in an increasingly global digital marketplace.

Critics, however, warn the framework gives regulators significant influence over what content viewers see, while imposing compliance costs that could affect platform investment and consumer prices. Some legal experts have questioned whether the law addresses broadcasting challenges effectively, or whether it risks unintended consequences for free expression online.

Prime Minister Mark Carney has announced plans to scale back federal spending later this year, though he has yet to clarify which programs will be affected or the extent of the reductions.

He made the announcement during a Liberal caucus gathering in Edmonton, framing it as the beginning of a new chapter in fiscal responsibility. While Carney has floated a target of $25 billion in cuts over the next three years, this figure falls short of the more ambitious promises he made during the election campaign, including shrinking the public sector and boosting economic efficiency.

According to projections from the Department of Finance, federal expenditures in 2025 are expected to reach $558.3 billion. Much of that spending is already committed: $85.5 billion for seniors’ benefits, $71.1 billion for government payroll, $54.7 billion for health transfers, $54.2 billion in interest payments, and $29.6 billion for the Canada Child Benefit.

Opposition Leader Pierre Poilievre has criticized Carney’s approach, accusing the government of excessive spending and failing to deliver meaningful budget cuts.

Adding to the uncertainty, the government has not yet released a comprehensive budget for 2025. The most recent fiscal update—the Fall Economic Statement from December 16—projects a deficit of $42.2 billion.