Overview

• Thirty-eight CEOs of Canadian energy companies sent a letter to Prime Minister Mark Carney requesting the repeal of the emissions cap and industrial carbon pricing policies.
• The CEOs argue that overlapping and complex energy policies have eroded investor confidence and hindered sector growth.
• They also called for reforms to the Impact Assessment Act and the Oil Tanker Moratorium Act to simplify project approvals and lift restrictions on tanker operations along British Columbia's coastline.
• Carney has maintained his commitment to the proposed emissions cap, which requires a 35% reduction in upstream oil and gas emissions by 2030–2032, and has not indicated any changes to industrial carbon pricing.
• The letter emphasized the need for globally competitive energy policies to attract investment and align with Carney's campaign promise of making Canada the fastest-growing G7 economy.