Federal natural resources minister Tim Hodgson told the Global Energy Show in Calgary that Canada is a reliable energy supplier in a volatile world. He highlighted the country's democratic stability and said Canada is once again open for business. The event comes amid Middle East turmoil and Canada's push to secure its status as a global energy supplier. But Cenovus CEO Jon McKenzie pushed back, calling the industrial carbon tax insidious and saying it makes Canadian oilsands investments less competitive. He also questioned the Pathways carbon capture project, estimating it would cost $20 to $30 billion while reducing global emissions by an infinitesimal amount. McKenzie said the proposed West Coast pipeline is unfinanceable under current conditions. Alberta Premier Danielle Smith acknowledged that putting the pipeline plan on paper is one thing but execution is another. The province aims to get shovels in the ground by September 2027, but industry investment remains uncertain without a more competitive regulatory regime.
