Whitecap Resources Inc.

An Open Letter to the Leaders of Canada’s Political Parties

March 18, 2025

Mark Carney
Leader, Liberal Party of Canada

Yves-François Blanchet
Leader, Bloc Québécois

Pierre Poilievre
Leader, Conservative Party of Canada

Jagmeet Singh
Leader, New Democratic Party

Dear Messrs. Carney, Blanchet, Poilievre, and Singh:
Re: How Canadian energy can help strengthen Canada’s economic sovereignty

We are at a turning point in Canada’s history and national interest. There is increasing public support to urgently grow our energy sector and build energy infrastructure, including new oil and natural gas pipelines and LNG terminals, to expand Canada’s energy exports. These are critically important global commodities. Canadians increasingly see the importance of using our abundant energy to ensure Canada can defend its sovereignty, play a role in the world as a force for good, and improve our overall economic competitiveness and prosperity.

As leaders of Canadian energy companies representing tens of thousands of Canadian workers, we are responsible for the majority of oil and gas production and pipelines in the country. We want to share our perspectives on global energy, our vision for Canada’s role, and what is required to capture this opportunity.

A catalyst for more Canadians wishing to increase production and energy exports has been a desire to fortify Canadian independence through a stronger economy while diversifying our markets. A more prosperous country will not only raise Canadians’ standard of living and create high quality jobs but provide the financial capability for the country to be a more active and relevant international player.

All plausible global outlooks forecast oil and natural gas remaining amongst the world’s largest sources of energy for decades to come. With a strong commitment to environmental stewardship, Canada can be the global leader in ensuring energy security by being the provider of affordable, democratically produced energy to people around the world, including allies with shared values.

A growing Canadian energy sector will also help address the world’s energy poverty emergency. More than 4 billion people, over half the world’s population, live below modern standards of living, which require reliable energy for housing, infrastructure, educations, jobs, and mobility. Energy poverty shrinks as energy grows, which requires affordable and reliable supply. In addition, every year, 8.3 million people die globally due to inadequate access to heating and cooling and indoor air pollution from burning over open fires kerosene, wood, animal dung, crop waste and coal.1 Canada has the resources to responsibly meet this demand as one of the top five global oil producers and one of only two democratic oil producers in the top ten.

At the same time, Canadian energy can help address global carbon emissions. Canadian LNG could replace the more emissions-intensive coal fired electricity generating plants throughout Asia. Canada’s oil sands industry has been investing heavily in research and regulatory approvals to develop new carbon capture and storage projects that have the potential to reduce the sector’s carbon emissions intensity. Thus, an expanding Canadian oil and natural gas sector helps the world’s efforts to tackle this global challenge.

Realizing Canada’s opportunity will take collaboration between industry, government, and society. The federal government has an opportunity to reset its policies, and regulatory frameworks to support oil and natural gas investment and remove the barriers we have imposed on ourselves over time. For the oil and natural gas sector to expand and energy infrastructure to be built, Canada’s federal political leaders can create an environment that will:

Simplify regulation.
The federal government’s Impact Assessment Act and West Coast tanker ban are impeding development and need to be overhauled and simplified. Regulatory processes need to be streamlined, and decisions need to withstand judicial challenges.
Commit to firm deadlines for project approvals.
The federal government needs to reduce regulatory timelines so that major projects are approved within 6 months of application.
Grow production.
The federal government’s unlegislated cap on emissions must be eliminated to allow the sector to reach its full potential.
Attract investment.
The federal carbon levy on large emitters is not globally cost competitive and should be repealed to allow provincial governments to set more suitable carbon regulations.
Incent Indigenous co-investment opportunities.
The federal government needs to provide Indigenous loan guarantees at scale so industry may create infrastructure ownership opportunities to increase prosperity for communities and to ensure that Indigenous communities benefit from development.

By declaring a Canadian energy crisis and key projects in the “national interest,” the federal government will be able to use all its available emergency powers to ensure that the dramatic regulatory restructuring required to expand the oil and natural gas sector is rapidly achieved.

As leaders of the energy sector, we are ready and willing to engage with you on the matters so that energy projects are moved forward promptly, and construction of critical infrastructure can begin in the near term for the benefit of Canada and all Canadians nationwide.

Regards,

Terry Anderson