Commonwealth_ Liberal Leader Mark Carney has outlined a new energy strategy aimed at transforming Canada into an energy superpower. Speaking in Calgary, Carney emphasized the need for a dual-track approach that boosts both conventional energy production and accelerates the transition to clean energy. His announcement marks a policy shift for the Liberal Party as it seeks to strengthen its presence in Western Canada and address growing concerns over energy security, economic competitiveness, and climate change.
A cornerstone of Carney’s proposal is the creation of a federal project office tasked with expediting project approvals. Under the current system, major energy and infrastructure projects can take up to five years to receive final decisions. The new office would aim to reduce this timeline to just two years, conducting a single, streamlined review per project. Carney believes that the change will increase investor confidence, encourage faster development of energy infrastructure, and reinforce Canada’s leadership in both traditional and renewable energy sectors.
Carney also announced the introduction of a “first and last mile fund.” The aim of this initiative is to establish connections between critical mineral projects and wider supply chains. These minerals, such as lithium, cobalt, and rare earth elements, are vital components in renewable energy technologies like batteries, solar panels, and wind turbines. While the precise structure of the fund remains unclear, including whether it would provide grants or loans, its goal is to help jump-start projects and get minerals to market more quickly.
Carney claimed that the proposed energy strategy would reduce Canada’s reliance on countries like the United States and diversify its trade relationships. “To build the strongest economy in the G7, we need to develop both clean energy and the lowest-carbon conventional energy,” he stated, reinforcing the importance of a balanced and competitive energy portfolio.
The announcement comes at a time of heightened trade tensions and growing demand for secure, homegrown energy resources. Both leading federal election candidates, including Conservative Leader Pierre Poilievre, have committed to streamlining project approval processes. Poilievre has proposed a “one-stop shop” through a Rapid Resource Project Office, promising decisions within six months to a year and eliminating redundant regulatory steps.
Despite his focus on resource development, Carney said he is not abandoning his environmental values. A former central banker and the United Nations special envoy for climate action and finance, Carney has long championed net-zero policies. While he has pledged to eliminate the consumer carbon price, he maintains that reducing emissions from conventional energy production is essential for long-term competitiveness. “Clean energy is going to be increasingly important,” he said, adding that lowering emissions is key to helping Canada dominate global energy markets.
Reactions to Carney’s plan were mixed. Alberta Premier Danielle Smith criticized his policy reversal, accusing him of inconsistency and demanding the repeal of federal measures such as the emissions cap and Bill C-69, also known as the Impact Assessment Act. Saskatchewan government spokesperson Matthew Glover echoed similar concerns, stating that the province expects Ottawa to scrap the Act, although Carney has said he has no plans to do so.
To address concerns about environmental oversight and Indigenous rights, the Liberals have promised to maintain high environmental standards and increase engagement with Indigenous communities. They announced $40 million in additional funding to support Indigenous consultation during project reviews.
Meanwhile, Canada’s progress toward its climate goals remains slow. According to a recent federal report submitted to the United Nations, greenhouse gas emissions dropped by about 1 per cent in 2023 compared to the previous year. However, this leaves Canada far from its target of a 40 to 45 per cent reduction by 2030, relative to 2005 levels. As of 2023, emissions had only decreased by 8.5 percent. With energy investment worldwide projected to hit US$2 trillion in 2024 two-thirds of which will go toward clean technologies, the pressure is mounting for Canada to modernize its approach.
