Prime Minister Mark Carney applauds as King Charles III delivers his speech in the Senate Chamber
Canada’s energy superpower ambition
The new government is talking and thinking big, and there are credible reasons to believe it is more than just grandstanding
In the face of threats to Canada’s economy and sovereignty by the second Trump administration, the federal throne speech opening a new session of the Canadian parliament on 27 May—read by British monarch King Charles III—reiterated the freshly minted Mark Carney government’s commitment to making the country the “world’s leading energy superpower in both clean and conventional energy”. “Canada’s energy sector is already world-class and increasingly global with new infrastructure access for oil via [Trans Mountain Pipeline Expansion: TMX], NGLs and soon gas via the imminent startup of LNG Canada Phase 1,” Mark Oberstoetter, vice president of research for consultancy Wood Mackenzie, told Petrol
Also in this section
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
1 April 2026
The US-Iran conflict demonstrates the need for diversification in several senses of the word. It also exposes the limits of Washington applying pressure on major oil and gas producers it considers geopolitical adversaries
31 March 2026
Disappointing results in its bidding round are a reality check for Libya, and global exploration generally
