This article supplied by Troy Media.

 By Bill Whitelaw

Carney’s talk of energy superpower status rings hollow without the policy stability needed to back it up

As Canada continues to slip in global economic rankings, Prime Minister Mark Carney’s ambition to position the country as an “energy superpower” feels increasingly disconnected from reality.

The idea is rooted in recent political rhetoric suggesting that Canada’s energy sector, particularly oil and gas, can drive national prosperity. But
rhetoric alone won’t get us there. Without a clear, workable policy—particularly in how the energy sector is regulated and supported—the path to global energy leadership remains blocked.

Canada has the third-largest proven oil reserves in the world, abundant natural gas and vast renewable resources. Its energy sector supports hundreds of thousands of jobs and contributes significantly to gross domestic product (GDP). Yet despite this foundation, Canada has struggled to translate its natural advantages into sustained global leadership.

The last mandate letter (2021) from former Prime Minister Justin Trudeau to his minister of energy and natural resources focused not on developing Canada’s energy potential, but on dismantling it. The directives prioritized capping oil and gas emissions, eliminating fossil fuel subsidies and accelerating a shift to green alternatives—signalling a clear intention to phase out traditional energy in favour of an ideological climate agenda, rather than supporting Canada’s role as a global energy leader.

Trudeau’s 2021 mandate letter should serve as a cautionary example. These letters, public documents from the prime minister outlining a minister’s responsibilities and policy priorities, must offer more than lofty ideals. If Carney is serious about making Canada an energy superpower, he needs to reflect that ambition in the letter he gives to his minister of energy and natural resources. It should clearly lay out a credible path to unlock energy investment, boost competitiveness and reassert Canada’s global standing.

Canada doesn’t lack ambition. What it lacks is a clear, practical policy framework linking energy—especially oil and gas—to national economic performance. Trudeau’s mandate letter was full of ideals but short on actionable steps. It overlooked the vital role energy plays in growth and prosperity.

Canada’s energy policy landscape is marked by excessive complexity, overlapping regulations and a level of uncertainty that discourages investment. For an industry that operates on long timelines and high capital demands, clarity and certainty are not optional—they are essential.

Without that stability, energy companies can’t plan or invest with confidence. And without robust investment, Canada cannot expect to lead in innovation or longterm economic strength.

The consequences of poor policy are not theoretical. Investment capital has flowed to jurisdictions with clearer rules and faster approvals. Projects that could have created high-paying jobs, increased tax revenues and improved energy security have been delayed or shelved entirely. Canadians are left with higher costs, slower growth and fewer opportunities.

Too often, the connection between energy development and economic strength is treated as secondary when it should be front and centre. This must change. Energy policy should reflect economic realities, not ideological narratives or performative environmentalism.

A better path forward starts with clear priorities grounded in pragmatism. It also demands genuine engagement with industry—not as an afterthought, but from the outset—to ensure policy reflects operational realities on the ground.

This is not a call to surrender oversight to corporate interests. It’s a call to recognize that effective policy requires collaboration with those who drive the economy. A constructive, transparent partnership will better position Canada to meet its environmental goals while advancing energy development.

Reclaiming energy leadership will also require broader alignment across parties, provinces and sectors. Energy policy must outlast political cycles and reflect  national interests, not shifting ideological trends. Only then can Canada speak with a credible voice on the world stage.

Clarity and certainty remain the cornerstones of any credible strategy to elevate Canada’s energy leadership. Without them, the superpower narrative is little more than political theatre.

Bill Whitelaw is a director and advisor to many industry boards, including the Canadian Society for Evolving Energy, which he chairs. He speaks and comments frequently on the subjects of social licence, innovation and technology, and energy supply networks.

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