06:24 AM EDT, 03/19/2025 (MT Newswires) -- On this Wednesday morning, an open letter from 14 CEOs representing the four largest pipeline companies and 10 largest oil and natural gas companies was delivered to Canada's political party leaders. "This is in answer to inquiries on how Canada can respond to escalating global energy security challenges and the urgent need for pragmatic energy strategies," a statement said.

"It's time for Canadians to claim our economic sovereignty. In recent months, each of us have been asked what needs to happen to ensure Canada has control over its economic destiny, and what we can do to make sure we have full access to global markets and trade. We are saying it's time to roll up our sleeves as a country, and build needed energy structure," says Adam Waterous, Executive Chairman, Strathcona Resources Ltd. ( STHRF )

"Canadians now recognize the need for us to grow our energy sector and build energy infrastructure, including new oil and natural gas pipelines, and Liquefied Natural Gas (LNG) export terminals. They want a country-wide push to champion our products and pipelines, and to unleash the potential of our natural resources. Everyone wants our country to continue to prosper and our export-focused economy to grow," he adds.

Wednesday's letter noted Canada has "vast reserves" of oil and natural gas, and that "credible forecasts" predict they will remain amongst the world's largest sources of energy for decades to come. The letter said Canada can provide for its own domestic needs, while also exporting around the world. "The country can be a leader in global energy security by being a provider of affordable, lower emission, democratically and responsibly produced energy. Canada can compete against any major global energy producer," the letter added.

"Realizing Canada's opportunity will take collaboration between industry, government and Canadians. Today, the federal government does not have the right policies, or the regulatory framework to support oil and natural gas investment. Delays in permitting processes for critical infrastructure often results in billions in lost economic opportunities for Canadians. It's time for change. These are barriers we have imposed on ourselves that need to be removed, now," says Francois Poirier, President and Chief Executive Officer, TC Energy ( TRP ).

The letter outlines a clear plan with five calls for action. For the oil and natural gas sector to expand and for energy infrastructure to be built, Canada's federal political leaders need to: Simplify regulation; Commit to firm deadlines for project approvals; Grow production; Attract investment; Incent Indigenous co-investment opportunities.