Canada Needs to Clear Away Hurdles to Energy Industry Investment, Enbridge CEO Says

By Robb M. Stewart

There is an urgency for Canada to tap its energy resources to grow its economy and compete internationally, but the country won't attract the needed capital unless regulatory changes are made, Enbridge Chief Executive Greg Ebel warned.

The head of the energy infrastructure company said the country faces a defining moment as the world rewires supply chains, and it has an opportunity to make the most of a resources advantage.

"Energy security is now synonymous with national and economic security. Capital is flowing toward countries that can move with certainty and speed," Ebel said in a speech in Toronto to the nonprofit Empire Club of Canada.

His comments came the same week that the province of Alberta's government said it would back and help develop a proposed oil pipeline to Canada's northwest coast with an industry advisory group that includes Enbridge, South Bow and Trans Mountain. Prime Minister Mark Carney has also pushed a goal of making the country an energy superpower as Canada pivots toward global markets and away from a reliance on the U.S.

Expansion of Canada's energy industry requires regulatory processes that will move more quickly, Ebel said. He said major project approval in Canada can take five years or more, which is a competitive liability.

Ebel said there was no call to weaken environmental oversight, but instead processes need to be more predictable.

He also said the country is held back by regulations, including energy-industry carbon taxes and emissions caps. Ebel also pointed to the ban on oil tankers that Ottawa introduced almost a decade ago along a segment of the northern British Columbia coast, which effectively derailed Enbridge's proposed Northern Gate pipeline project.

"The last 10 years have been a competitiveness disaster for Canada," Ebel said. "The next 10 can be a renaissance, if we choose to lead."

He added energy is a core driver for Canada, contributing more than 10% of gross domestic product and about one-third of total Canadian goods exported.

"Canada has extraordinary resources, a skilled workforce, and leading environmental standards. Yet we aren't moving fast enough," he said. "Projects linger. The permit process stretches on. Capital looks elsewhere."

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

October 02, 2025 15:38 ET (19:38 GMT)