April 9, 2025
https://liberal.ca/mark-carneys-liberals-to-make-canada-the-worlds-leading-energy-superpower/
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Canada’s economic strength is underpinned by Canadian energy. Our energy sector supports 700,000 jobs across the country, powering factories, warehouses, labs, and so much more at home and around the world. To weather the economic storm induced by President Trump, and build Canada strong, we must invest in our natural strengths and ensure our economic sovereignty.
“Canada has a tremendous opportunity to be the world’s leading energy superpower, in both clean and conventional energy,” said Mark Carney, Leader of the Liberal Party of Canada. “We are going to aggressively develop projects that are in the national interest in order to protect Canada’s energy security, diversify our trade, and enhance our long-term competitiveness – all while reducing emissions. We can lead the energy transition while ensuring affordable energy at home and building the strongest economy in the G7. ”
Today, Mark Carney announced the comprehensive Liberal approach to make Canada the world’s leading energy superpower. This approach will be defined by three objectives:
- energy security;
- trade diversification; and,
- long-term competitiveness.
- Kickstart the clean energy supply chain by investing in critical minerals by:
- connecting critical mineral projects to supply chains via a new First and Last Mile Fund (FLMF), creating a more integrated and accessible Canadian economy;
- directly supporting clean energy and critical minerals projects via the FLMF, reducing our reliance on other countries and protecting Canadian jobs;
- accelerating exploration, as well as extraction from recycling, by investing in prospecting activities; and,
- attracting, expanding and de-risking investment in critical mineral exploration and extraction with additional investments in and expansion of existing tax credits.
- Get clean energy projects built quickly across Canada by:
- fast-tracking Projects of National Interest, which will be jointly identified with provinces and territories and Indigenous peoples;
- incentivizing Projects of National Interest by keeping the federal government’s current suite of investment tax credits for clean energy, finalizing the tax credits under development, and reinforcing the Canada Growth Fund, including by supporting carbon contracts for difference;
- signing Cooperation and Substitution Agreements with all willing provinces, territories, and Indigenous Governing Bodies within six months, ensuring that projects only go through one review that uphold environmental standards and Indigenous Consultation;
- establishing a Major Federal Project Office with a new comprehensive mandate to move forward with One Project, One Review, issuing decisions on major projects within two years instead of five, while fully upholding environmental integrity and Indigenous rights;
- developing a trade and energy corridor, along with provinces, territories, and Indigenous partners, for transport, energy, critical minerals and digital connectivity, including through the Trade Diversification Corridor Fund;
- doubling the Indigenous Loan Guarantee Program from $5 to $10 billion and expanding it to support more Indigenous-led infrastructure, transportation and trade projects across the country. This will make it easier for more Indigenous communities to become owners of major resource projects;
- increasing capacity funding for Indigenous communities to engage on projects early and consistently; and,
- working with project proponents, provinces, territories, and Indigenous partners to do proactive remediation and rehabilitation work at project sites so projects move faster.
- Secure Canada’s energy and electricity sovereignty by:
- working with provinces and territories to build out an East-West electricity grid, in a historic nation-building project, to secure Canadians’ access to affordable, reliable, clean, Canadian electricity; and,
- investing in Canada’s conventional and clean energy potential, so we can reduce our reliance on the United States and build trading relationships with reliable partners.
A Mark Carney-led government will stand strong against President Trump’s tariffs, create new jobs, cut taxes for the middle class, modernize our energy infrastructure, and build the cleanest, fastest growing economy in the G7. Liberals will build Canada strong.
Backgrounder
