Standing within the historic walls of Ottawa’s Chateau Laurier, François Poirier issued a challenge – a call for Canada to rediscover its drive. The CEO of TC Energy, a company born from meetings held in that very hotel in 1951, spoke with a palpable sense of urgency.
Poirier, a staunch advocate for Canadian economic strength, particularly within the energy sector, addressed a pointed question head-on. Despite increasing investment south of the border, his presence in Canada wasn’t about shifting priorities. It was, he declared, a matter of profound national pride.
Recent global shifts, Poirier argued, have presented Canada with a unique opportunity to assert leadership on the world stage. He envisioned a clear path – a transition from ambition to tangible results – that could secure lasting prosperity for generations to come.
The energy executive resisted the temptation to criticize the current government, despite past challenges to his industry. Instead, he offered encouragement, asserting that embracing the oil and gas sector could propel Canada to the forefront of the global economy within years.
Poirier outlined a bold vision: with focused political will, a renewed spirit of ambition, and a streamlined regulatory process, Canada could achieve the fastest GDP growth in the G7. He projected a sustained increase exceeding two percent annually by 2030.
The obstacle, he explained, lies in the sheer weight of bureaucracy. In 2021, Canada was burdened with over 320,000 regulations – a 37% increase since 2006. This complex web of red tape stifles progress, offering no clear benefit to businesses or citizens.
“To build more, Canada must simply make it easier to build,” Poirier stated, a sentiment echoing a growing frustration within the business community. The current system, he implied, is demonstrably failing to facilitate growth.
While carefully avoiding direct criticism of government initiatives, Poirier’s message was clear: the current pace of progress is insufficient. Major projects remain stalled, and opportunities are slipping away.
He specifically highlighted the potential of Liquefied Natural Gas (LNG) exports, noting the dramatic shift in North American capacity over the past decade. While the U.S. now boasts eight export facilities, Canada has only one, despite numerous proposals.
Becoming the world’s leading LNG exporter to Asia, Poirier calculated, could inject a staggering $75 billion into Canada’s GDP annually – a more than 2% increase. This would be a transformative boost to an economy facing mounting pressures.
This potential remains unrealized, Poirier suggested, due to political considerations and a reluctance to fully embrace the energy sector. He emphasized that Canada’s future success hinges on prioritizing economic growth.
“Generational success will depend on our ability to execute – not by our ability to follow process,” Poirier concluded. His call to action resonated with a sense of urgency, a plea for decisive leadership and a renewed commitment to ambition.
The question now remains: will those in power heed the advice of a business leader eager to invest in Canada, to create jobs, and to unlock the nation’s vast economic potential?
