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She said the group was encouraged by the tone of Liberal Leader Mark Carney and Conservative Leader Pierre Poilievre during the campaign when it came to the importance of the oil and gas industry to Canada’s economy and national security.聽

“Canada stands at a pivotal moment in its history 鈥� caught in a trade war with our closest trading partner and facing direct challenges to our sovereignty from the president of the United States. With the global economic uncertainty being caused by actions in the United States, Canada has an opportunity to stand out as a stable, trusted trading partner,” she said.

Mark Scholz, who leads the Canadian Association of Energy Contractors, said he’s optimistic the industry will have a better rapport with Carney than with his predecessor, former prime minister Justin Trudeau.聽

“I think that the prime minister has tried to distance himself from the really dark period of the Trudeau administration. It was a government that did not have a very good relationship with the industry. The industry didn’t trust them,” he said.聽

“So he has a huge opportunity to unite the country.”

Tristan Goodman, who leads the Explorers and Producers Association of Canada, said he’s hopeful Carney’s economic chops will be reflected in his party’s policies. Carney previously headed up central banks in Canada and the United Kingdom.聽

Carney said his party would streamline project reviews, but keep the industrial carbon levy, emissions cap and review legislation. He took a positive tone toward the sector during the campaign, Goodman said, but “there’s also skepticism” on the part of industry.

“Hopefully that constructive language will move into tangible action that can actually meet all these expectations of growing the energy business while also addressing climate issues and increasing the opportunities for Indigenous Nations and Indigenous Canadians.”聽

Shortly before the campaign began, 14 oil and gas top executives wrote an open letter to the federal party leaders arguing unspecified emergency powers should be invoked to speed along infrastructure projects deemed in the 鈥渘ational interest.鈥澛�

The executives called for a simplification of regulation and a commitment to firm six-month deadlines for project approvals.

They also urged the elimination of the federal government’s cap on emissions, the repeal of the federal carbon levy on large emitters and loan guarantees to help Indigenous co-investment opportunities.

Poilievre promised during the campaign that if his party won, it would do everything on the oil and gas bosses鈥� wish list.聽

The leader of clean-energy think tank Pembina Institute said the election came at a pivotal moment for Canada’s economic resilience and energy security 鈥� and electrification is the way to get there.聽

The institute is calling for the build-out of a national electricity grid powered by clean energy, expanding Canada’s electric vehicle charging network, funding home efficiency upgrades and other measures.聽

鈥淭his government 鈥� and everyone in Canada 鈥� has an opportunity to choose a pathway to long-term financial stability, secured global leadership and increased well-being for all. This pathway is rooted in clean energy,” said Chris Severson-Baker.聽

Tim Gray, with Environmental Defence, cautioned Carney against spending public money on pipelines or support for fossil fuels.聽

“We trust that Mr. Carney knows full well that Canada鈥檚 economic future will be best secured by focusing on where the global energy system is going, not where it has been.”聽

Climate Action Network’s Caroline Brouillette noted Carney’s past work on tackling global greenhouse gas emissions 鈥� he served as the United Nations special envoy for climate action and finance.

She said Carney should “practise what he has preached” for years.聽

“That requires picking a lane with regard to energy: no more flirting with fossil fuel expansion and new pipelines, which would come with staggering costs to our wallets and our planet,” she said.聽

“Instead, the new federal government must focus its attention on building a renewable-powered electricity grid as the backbone of a new economy in line with Canadian values.鈥�

Lance Mortlock, managing partner for industrials and energy at EY Canada, said it’s a mixed picture.聽

“I think Mark Carney understands the importance of leading for every Canadian,” he said.聽

“He’s well equipped to navigate the economy and has led through a crisis before.”

On the downside, Mortlock said a minority parliament raises the spectre of “legislative gridlock” and national unity issues may arise with the stridently pro-development Alberta government.聽

“Probably what I’m most concerned about is our growing regulatory burden and I think it continues to hold us back.”

Mortlock said Carney may find himself walking a tightrope.聽

“Will he strike the right balance between unleashing the Canadian economy and remaining true to his green values?” asked Mortlock.聽

“That remains to be seen.”

This report by The Canadian Press was first published April 29, 2025.