Canada has significant economic challenges. National and provincial debts are at historical highs, productivity has stalled—impacting wages and Canadians’ standard of living—and private investment has stagnated.
Externally, we face a world in which countries like China, Russia and now the United States, as well as organized groups of nations like OPEC, are increasingly using statecraft to control markets, coerce trade and dominate strategic resources.
Russia continues to weaponize oil and gas resources and is aligning itself with China to strengthen their trading bloc’s hold on energy and critical minerals.
OPEC historically acted as a stabilizing force for global oil prices, but now the consortium is using their supply to undercut global oil prices, harm their rivals, and take back market share.
Even our closest ally, the United States, has shown us something Canadians must never forget: we cannot put all our trust in one customer. The global energy superpowers of today have proven to be unreliable and insecure partners.
For Canada, the new global order is not an abstract debate. It is an urgent question: how should a resource-rich and trade-dependent nation position itself in a world where economic FORCE, not market fairness, is setting the rules?
Yet Canada continues to be passive, with our oil and natural gas exports still incredibly tied to one customer and sold at a discount. Over the past 15 years, selling our oil at a discount to the U.S. has cost Canada’s economy nearly US $50 billion.
Canada has some of the largest untapped oil and natural gas reserves on the planet, with oil reserves larger than Russia’s, but we annually produce about half of their total.
Yet we find ourselves in a critical moment, where making the right choices today can set our country on a path to prosperity for generations to come.
The world’s energy demand is not shrinking. Population growth, modernization, and the electrification of economies—especially in the Global South—are driving record highs in consumption. Even in the Global North, the rise of artificial intelligence and data centers is accelerating the need for reliable power.
The future will require more energy, not less, and Canada is uniquely positioned to deliver.
The Prime Minister has set the vision to become an energy superpower. The benefits of energy superpower status extend far beyond economics. It’s about strengthening Canada’s sovereignty, funding our military, achieving meaningful reconciliation with Indigenous peoples, and becoming the fastest-growing economy in the G7.
Becoming an energy superpower requires more than ambition—it demands a new approach and a rapid change to pragmatic, predictable policies that foster investment, innovation, and collaboration. For too long, complex regulations and policy uncertainty have hindered development
and driven investment elsewhere. Canada needs a clear-eyed view of global energy realities and collaboration between governments, industry, and stakeholders.
It also means governments must work together and resist falling into the old patterns that halted projects and drove away investment. At this moment, we need a Team Canada approach to turn a crisis into an opportunity. It will take setting politics aside and looking at the map of Canada as a blank canvas to chart a path forward that leverages our strengths as a resource rich and talent-heavy nation.
Every region has a role to play—from British Columbia’s emerging LNG industry to Alberta’s oil sands to Atlantic Canada’s offshore potential—and so does a national supply chain that reaches cities and towns right across the country.
Canadians are ready. Nearly eight in ten Canadians now support nation-building projects like pipelines and LNG terminals. The business community is leaning in, and global partners are looking to Canada for leadership.
Canada has a rare chance to become the world’s next energy superpower. The window of opportunity is open, but it will close if we do not act quickly and decisively. By unlocking the full potential of our energy resources in the best ways possible, we can deliver prosperity, security, and leadership for generations to come.
Let’s not squander this moment. The world needs more Canadian energy. It’s time for Canada to step up and claim its place on the global stage.
Lisa Baiton is the President & CEO of the Canadian Association of Petroleum Producers