“CAPP remains supportive of the federal government’s vision of positioning Canada as a global energy superpower, and several measures in the Spring Economic Update represent concrete steps toward that goal. In particular, the LNG accelerated capital cost allowance and expanding the carbon capture investment tax credit to include enhanced oil recovery brings alignment between the government’s objectives to grow and diversify Canada’s oil and natural gas exports and reduce the economy’s emissions intensity.
Strengthening investor confidence and advancing nation‑building projects are essential to achieving Canada’s energy ambitions. Delivering these projects—of which the two major LNG projects alone represent approximately $60 billion in new investment—will require a skilled workforce. In that context, it is encouraging that the Spring Economic Update includes the launch of a new program to attract and train between 80,000 and 100,000 skilled trades workers who will help build the projects needed to power Canada’s future economy. In addition, the creation of the Canada Strong Fund underscores a commitment to investing in major project development across Canada, including in energy and natural resources.
Canada’s oil and natural gas industry plays a critical role in delivering the economic strength, energy security, and job creation outlined in today’s update. In a period of global uncertainty and heightened demand for reliable energy, Canadian producers are well positioned to develop our natural resources, create high‑paying jobs, and support long‑term prosperity across the country.”
Lisa Baiton, CAPP President & CEO