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Energy

Canada’s Most Impactful Energy Issues in 2024

Published

17 minute read

From EnergyNow.ca

By Deidra Garyk

It feels like we are in the beginning of a cultural, social, and political disruption. The fear of saying the wrong thing and being cancelled is subsiding, resulting in robust debate about important topics. Public pushback against climate alarmism and energy misinformation is getting louder as more and more people join in the discussion.

I have enjoyed watching the increased skepticism and distrust towards “the settled Science” and the agreed upon narratives in favour of open, genuine, inquisitive conversations with a focus on practicable solutions. People are fed up with niche topics taking up a disproportionate amount of airtime in place of issues that are relevant to the majority of the country.

These are a few of the energy topics that I feel were most impactful for the year, with many having a lasting impact into 2025 and beyond.

SHIFTING POLITICAL WINDS

As Canada implements more and more regulatory hurdles for the oil and gas industry, the US re-elected pro-business, pro-oil, political outsider Donald Trump in a ‘uge win, with the majority of counties shifting from blue (Democrat) to red (Republican).

He isn’t even sworn in, and Trump is lighting things up via social media decrees. Using Truth Social, he announced that a 25 percent tariff will be placed on all goods coming from Canada and Mexico unless their respective borders are addressed to his satisfaction.

This will affect all Canadian businesses, not the least being those in the oil patch since 4 million barrels of oil per day go to the US, along with 7.9 billion cubic feet per day of natural gas. 77 percent of Canadian exports enter the US market; therefore, a 25 percent tariff is another obstacle affecting Canadian businesses’ competitiveness, which are already faced with various regulatory and taxation hurdles from Canadian governments, such as the carbon tax that increases each year.

Expect to see a shake-up in the Department of Energy and the narrative around climate and energy with the nomination of Chris Wright, CEO of Liberty Energy, for US Secretary of Energy. Chris has been a bold, unapologetic, pragmatic energy realist who cares about balancing environmental responsibility with resource development to help supply the world with reliable, affordable energy. His principled leadership has elevated him to one of the highest offices in the US.

Chris Wright is not afraid to go against the crowd. Liberty successfully challenged the SEC’s climate reporting rules and were instrumental in getting them halted. You can listen to his clarity of thought as he testifies on the rules before the U.S. House of Representatives’ Financial Services Committee (Chris’ testimony starts at 53:58).

As the first energy secretary to come from the energy sector, I anticipate that the government’s energy messaging and policy is going to shift away from climate alarmism to one of balance and open-mindedness. I hope he staffs the Department with people who understand energy and are not focused on misguided ideology. The ripple effects will be felt around the globe, and now is the time to embrace people’s scepticism and exhaustion with the constant drumbeat of fear about the use of hydrocarbons.

Much like the massive political shift voted in by the Americans, Canadians are also ready for a change. Prime Minister Trudeau and his Liberal party continue to lag in the polls, indicating voters’ displeasure with their policies. Poll aggregator 338Canada predicts a resounding majority for the federal Conservatives. Will we begin to see better energy policy after the next election?

RENEWABLES’ REALITY AND COOLING CLIMATE CLUBS

As a further demonstration of the shifting social and political winds, the net zero climate movement has seen major companies quell their public support for associated initiatives. The appetite for costly net zero commitments from voters who are struggling to pay their bills is waning, and politicians are hearing about it.

Many Republican-led states have pushed back on anti-hydrocarbon, net zero financing, and that has influenced how companies behave, starting with an exodus from Mark Carney’s net zero allianceGFANZ (Glasgow Financial Alliance for Net Zero). The Net-Zero Insurance Alliance (NZIA), a subset of GFANZ, has lost about half of its members since March 2023. Climate initiatives, like Climate Action 100+ and the Net Zero Banking Alliance (NZBA) are also losing members who are concerned about the consequences of their affiliation with anti-hydrocarbon groups who attempt to influence how businesses conduct their operations, sometimes through coercive involuntary membership and social shaming.

The energy transition continues to face opposition. In summer 2023, the Alberta government placed a temporary, six-month moratorium on renewable energy – wind and solar – projects in an attempt to balance development with agricultural and social concerns. The condemnation from environmental groups and the Alberta NDP was swift and loud, but not always truthful. On the other side were landowners who were concerned about the consequences of the projects on their communities. A documentary, Generation Green, by filmmaker Heidi McKillop, documents the push-pull of renewable project development in Alberta.

The new rules include development limits on certain agricultural lands, protection of viewscapes using buffer zones, and a requirement for an upfront bond to pay for future reclamation costs. Landowners and associations have praised the changes for addressing concerns and being balanced.

January’s polar vortex reconfirmed people’s willingness to rethink some large-scale industrial wind and solar installations. The extreme cold resulted in alerts warning of potential rotating blackouts, reminding Albertans about the need for reliable, affordable, on-demand energy.

At the same time that Canadians are questioning the reliability of our grids, the government went all in on their bet on the adoption of electric vehicles, generously giving EV battery makers billions of taxpayer-funded subsidies to set up shop in Canada. However, plans have hit speed bumps (pun intended).

Sweden’s Northvolt, the recipient of $7.3 billion in loans, equity stakes, and subsidies from Canada, recently filed for bankruptcy protection in the US. The company says this will not affect its Canadian plant, which is being used as collateral to secure bailout financing in the US.  Meanwhile, other plants have been delayed. It seems like this may not have been a good “investment” for taxpayers.

Not that the Liberal government has been cautious with our money. Sustainable Development Technology Canada, colloquially referred to as the green slush fund, violated government funding rules and breached conflict-of-interest and ethics laws by improperly giving away millions of dollars. The scandal is so bad that the RCMP are investigating whether or not there was criminal wrongdoing; however, the government has been at a standstill for weeks because the Liberals refuse to hand over documents to help with the investigation.

COP29, THE FINANCE COP(S)

The COP conflab in Baku, Azerbaijan, in November didn’t skip a beat, seemingly ignorant of the shifting support for costly environmental action predicated on alarmism. Its 65,000 delegates waxed lyrical about the need to transfer funds from developed nations who are allegedly responsible for climate change to developing nations who are disproportionately victimized by changing weather conditions. What was dubbed “the New Collective Quantified Goal” (NCQG) on climate finance, governments tripled their handouts to US$300 billion annually by 2035, and got commits from public and private entities to increase that funding to US$1.3 trillion per year by 2035.

No one likes spending other people’s money quite like Minister Steven Guilbeault. You can find a daily outline of Canada’s COP commitments here.

We should have a new environment minister in time for COP30 in Brazil. And thankfully so, my wallet can’t take much more!

REGULATORY RAT’S NEST

In June, with the passage of Bill C-59, the Canadian Competition Act was amended with expanded provisions to address greenwashing complaints, including excessively punitive charges for breaking the new rules. The gag order has silenced oil and gas companies. Many, such as the Pathways Alliance of the six biggest oilsands producers, took down their websites immediately after the changes were announced. Others took down their ESG reports and environmental statements.

Even though oil and gas is likely to be disproportionately targeted and penalized, this Bill is agnostic; complaints can be made against all industries, and the unelected, unaccountable bureaucracy will decide who will and will not be investigated.

The fines are material.  $750,000 for an individual’s first offence and $10 million per misrepresentation for a company’s first offense, up to 3% of annual worldwide gross revenues. Analysis from one of the Big Four consulting firms uncovered approximately one potential misrepresentation per page of an ESG report; some reports run close to 100 pages, so the consequences of a fine are impactful, hence the swift reaction from companies.

While business leaders navigate the landmines created by C-59, mandatory sustainability (i.e. ESG) reporting standards are expected to be rolled out next year, with the latest draft issued in the next week or two. The Canadian securities regulator has said they are focused on climate as the first reporting topic. Nevertheless, it is reasonable to expect the Canadian standards will be expanded as the international standards broaden to include biodiversity and human capital, and possibly “just transition”.

In addition to the requirements for publicly traded companies, the feds’ announced mandatory climate reporting for all large, Canadian incorporated companies, including private. Corporations will be forced to publicly disclose their environmental performance while also being hamstrung by the greenwashing changes.

If you feel like an Olympian high jumper, it may be because companies have to be to meet ever higher regulatory requirements set by our federal government. Just when companies think they’ve cleared the bar by voluntarily cutting emissions from production, the feds raise it one foot higher.

November 4 brought the long-awaited draft emissions cap for the oil and gas industry, targeting a 35 percent emissions reduction below 2019 levels by 2030. To say the industry is annoyed is an understatement, and rightfully so.

You can’t keep a good industry down, though! The Canadian Association of Energy Contractors (CAOEC) is forecasting drilling growth in 2025, meaning the industry and its jobs are maintaining a positive trajectory. There’s continued optimism in the patch thanks to increased egress capacity following the start-up of TMX and the near completion of LNG Canada. The CAOEC 2025 forecast anticipates a total of 6,604 wells drilled, a 5.2% increase in rig operating hours, and total jobs (direct and indirect) of 41,800 – all up from 2024. This is good for workers, families, communities, and the economy.

PIPELINE EGRESS PROGRESS

The long-delayed, over-cost Trans Mountain Expansion Project (TMX) became operational on May 1, 2024, proving that we can still build things in Canada. The pipeline allows for the transportation of up to 890,000 barrels per day of oil to the west coast, which has helped narrow the differential of Western Canada Select crude. Congrats to everyone who worked on the project!

Another project of significant national importance is the 670 kilometre Coastal GasLink (CGL), the first pipeline built to the west coast in 70 years. Although the historical pipeline was completed ahead of schedule in late 2023, its completion affected the drilling and development plans of companies this year as we wait for the start up of the LNG Canada facility in 2025. CGL is another reason for optimism.

PERSONAL HIGHLIGHTS AND MILESTONES

2024 marks 20 years in the patch for me. I’ve had the opportunity to work alongside many astute, industrious, innovative folks who have integrity and heart for their work and co-workers. I thank each of you for shaping my career.

In February, I moderated EnergyNow’s event The Road Ahead: Alberta Energy 2024 with Minister of Energy and Minerals Brian Jean and distinguished energy analyst Dave Yager. We sold out the Petroleum Club ballroom and filled the room with lively discussion and camaraderie.

I then had the honour of moderating the sold-out luncheon panel at the 2024 Lloydminster Heavy Oil Show in September, featuring Alberta Premier Danielle Smith and Saskatchewan Premier Scott Moe. They graciously answered my questions, including one on the Keystone Pipeline – the new “hot topic”.

Premier Smith predicted that a change in US government could see the project resurrected. The Republicans took control of the White House, the Senate, and the House, so we will see if the Premier gets her wish. You can listen to her full answer here and a shorter clip here.

As we close off another fortunate year, I wish all the best for 2025.


Deidra Garyk is the Founder and President of Equipois:ability Advisory, a consulting firm specializing in sustainability solutions. Over 20 years in the Canadian energy sector, Deidra held key roles, where she focused on a broad range of initiatives, from sustainability reporting to fostering collaboration among industry stakeholders through her work in joint venture contracts.

Outside of her professional commitments, Deidra is an energy advocate and a recognized thought leader. She is passionate about promoting balanced, fact-based discussions on energy policy, and sustainability. Through her research, writing, and public speaking, Deidra seeks to advance a more informed and pragmatic dialogue on the future of energy.

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2025 Federal Election

Poilievre To Create ‘Canada First’ National Energy Corridor

Published on

From Conservative Party Communications

Poilievre will create the ‘Canada First’ National Energy Corridor to rapidly approve & build the infrastructure we need to end our energy dependence on America so we can stand up to Trump from a position of strength.

Conservative Leader Pierre Poilievre announced today he will create a ‘Canada First’ National Energy Corridor to fast-track approvals for transmission lines, railways, pipelines, and other critical infrastructure across Canada in a pre-approved transport corridor entirely within Canada, transporting our resources within Canada and to the world while bypassing the United States. It will bring billions of dollars of new investment into Canada’s economy, create powerful paycheques for Canadian workers, and restore our economic independence.

“After the Lost Liberal decade, Canada is poorer, weaker, and more dependent on the United States than ever before,” said Poilievre. “My ‘Canada First National Energy Corridor’ will enable us to quickly build the infrastructure we need to strengthen our country so we can stand on our own two feet and stand up to the Americans.”

In the corridor, all levels of government will provide legally binding commitments to approve projects. This means investors will no longer face the endless regulatory limbo that has made Canadians poorer.  First Nations will be involved from the outset, ensuring that economic benefits flow directly to them and that their approval is secured before any money is spent.

Between 2015 and 2020, Canada cancelled 16 major energy projects, resulting in a $176 billion hit to our economy. The Liberals killed the Energy East pipeline and passed Bill C-69, the “No-New-Pipelines” law, which makes it all but impossible to build the pipelines and energy infrastructure we need to strengthen the Canadian economy. And now, the PBO projects that the ‘Carney cap’ on Canadian energy will reduce oil and gas production by nearly 5%, slash GDP by $20.5 billion annually, and eliminate 54,400 full-time jobs by 2032. An average mine opening lead time is now nearly 18 years—23% longer than Australia and 38% longer than the US. As a result of the Lost Liberal Decade, Canada now ranks 23rd in the World Bank’s Ease of Doing Business Index for 2024, a seven-place drop since 2015.

“In 2024, Canada exported 98% of its crude oil to the United States. This leaves us too dependent on the Americans,” said Poilievre. “Our Canada First National Energy Corridor will get us out from under America’s thumb and enable us to build the infrastructure we need to sell our natural resources to new markets, bring home jobs and dollars, and make us sovereign and self-reliant to stand up to Trump from a position of strength.”

Mark Carney’s economic advice to Justin Trudeau made Canada weaker while he and his rich friends made out like bandits. While he advised Trudeau to cancel Canadian energy projects, his own company spent billions on pipelines in South America and the Middle East. And unlike our competitors Australia and America, which work with builders to get projects approved, Mark Carney and Steven Guilbeault’s radical “keep-it-in-the-ground” ideology has blocked development, killed jobs, and left Canada dependent on foreign imports.

“The choice is clear: a fourth Liberal term that will keep our resources in the ground and keep us weak and vulnerable to Trump’s threats, or a strong new Conservative government that will approve projects, build an economic fortress, bring jobs and dollars home, and put Canada First—For a Change.”

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2025 Federal Election

Canada Continues to Miss LNG Opportunities: Why the World Needs Our LNG – and We’re Not Ready

Published on

From EnergyNow.Ca

By Katarzyna (Kasha) Piquette, Founder and CEO, Canadian Energy Ventures

When Russia invaded Ukraine in 2022, Europe’s energy system was thrown into chaos. Much of the 150 billion cubic meters of Russian gas that once flowed through pipelines had to be replaced—fast. Europe turned to every alternative it could find: restarting coal and nuclear plants, accelerating wind and solar approvals, and most notably, launching a historic buildout of LNG import capacity.

Today, LNG terminals are built around the world. The ‘business case’ is solid. The ships are sailing. The demand is real. But where is Canada?

As of March 28, 2025, natural gas prices tell a story of extreme imbalance. While Europe and Asia are paying around $13 per million BTU, prices at Alberta’s AECO hub remain below $2.20 CAD per gigajoule—a fraction of global market levels. This is more than a pricing mismatch. It’s a signal that Canada, a country rich in natural gas and global goodwill, is failing to connect the dots between energy security abroad and economic opportunity at home.

Since 2022, Europe has added over 80 billion cubic meters of LNG import capacity, with another 80 billion planned by 2030. This infrastructure didn’t appear overnight. It came from urgency, unity, and massive investment. And while Europe was preparing to receive, Canada has yet to build at scale to supply.

We have the resource. We have the relationships. What we lack is the infrastructure.

Estimates suggest that $55 to $75 billion in investment is needed to scale Canadian LNG capacity to match our potential as a global supplier. That includes pipelines, liquefaction terminals, and export facilities on both coasts. These aren’t just economic assets—they’re tools of diplomacy, climate alignment, and Indigenous partnership. A portion of this investment can and should be met through public-private partnerships, leveraging government policy and capital alongside private sector innovation and capacity.

Meanwhile, Germany continues to grapple with the complexities of energy dependence. In January 2025, German authorities seized the Panama-flagged tanker Eventin, suspected of being part of Russia’s “shadow fleet” used to circumvent oil sanctions. The vessel, carrying approximately 100,000 tons of Russian crude oil valued at €40 million, was found adrift off the Baltic Sea island of Rügen and subsequently detained. This incident underscores the ongoing challenges Europe faces in enforcing energy sanctions and highlights the pressing need for reliable, alternative energy sources like Canadian LNG.

What is often left out of the broader energy conversation is the staggering environmental cost of the war itself. According to the Initiative on GHG Accounting of War, the war in Ukraine has produced over 230 million tonnes of CO₂ equivalent (MtCO₂e) since 2022—a volume comparable to the combined annual emissions of Austria, Hungary, the Czech Republic, and Slovakia. These emissions come from military operations, destruction of infrastructure, fires, and the energy used to rebuild and support displaced populations. Yet these emissions are largely absent from official climate accounting, exposing a major blind spot in how we track and mitigate global emissions.

This is not just about dollars and molecules. This is about vision. Canada has an opportunity to offer democratic, transparent, and lower-emission energy to a world in flux. Canadian LNG can displace coal in Asia, reduce reliance on authoritarian suppliers in Europe, and provide real returns to our provinces and Indigenous communities. There is also growing potential for strategic energy cooperation between Canada, Poland, and Ukraine—linking Canadian LNG supply with European infrastructure and Ukrainian resilience, creating a transatlantic corridor for secure and democratic energy flows.

Moreover, LNG presents Canada with a concrete path to diversify its trade relationships, reducing overdependence on the U.S. market by opening new, high-value markets in Europe and Asia. This kind of energy diplomacy would not only strengthen Canada’s strategic position globally but also generate fiscal capacity to invest in national priorities—including increased defense spending to meet our NATO commitments.

Let’s be clear: LNG is not the endgame. Significant resources are being dedicated to building out nuclear capacity—particularly through Small Modular Reactors (SMRs)—alongside the rapid expansion of renewables and energy storage. But in the near term, LNG remains a vital bridge, especially when it’s sourced from a country committed to environmental responsibility, human rights, and the rule of law.

We are standing at the edge of a global shift. If we don’t step up, others will step in. The infrastructure gap is closing—but not in our favor.

Canada holds the key. The world is knocking. It’s time we opened the door.


Sources:

  • Natural Gas Prices by Region (March 28, 2025): Reuters
  • European LNG Import Capacity Additions: European Commission
  • German Seizure of Russian Shadow Fleet Tanker: Reuters
  • War Emissions Estimate (230 MtCO₂e): Planetary Security Initiative
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