Source: Government of Canada News
“Canada Strong: Building the Future of Energy”
Date of delivery: May 23, 2025
Introduction
Hello,
Thanks for having me here today.
And above all, thank you for the work you do as a Chamber.
Your priorities — securing diversified trade, attracting, retaining and investing in talent, and making it easier to do business — are going to keep Calgary strong now and into the future.
I also see my colleague, MP Corey Hogan, Ministers Jean and Schulz, and Mayor Gondek, as well as several other former or current MPs, MLAs and Mayors in the audience — I want to thank them for being here, and for the work they do to represent and strengthen this province and this city.
I’ve found that Calgarians are pretty quick to ask me where I’m from.
My father was in the Canadian Armed Forces … and later on I was in the Forces myself … so when people ask me that, I’ve always said, “where would you like me to be from? Because I can be from there.”
Of course … now when I say it … people think I’m just trying to be a politician.
But it’s true.
And, I think, a pretty Canadian thing to say.
So many of us come from somewhere else. Somewhere else in the country. Somewhere else in the world.
What we have in common is fierce loyalty to where we live. To our cities. To our provinces. But above all, to our country.
And that is what I want to speak about today.
About our country. About what unites us as Canadians.
About this province and city … and the role they will play in making Canada a conventional and clean energy superpower.
But you likely don’t know much about me.
Like Johnny Cash sang — I’ve been everywhere, man.
But my roots are in the Prairies. My grandmother was born in Moosejaw, when it was the Northwest Territories — before Saskatchewan was created. My mum was born in Calgary, and most of her family still live here.
Following my dad’s example, I joined the Canadian Armed Forces out of high school when I was 17. That stint taught me a lot about service. And if you know anyone who has served, you know that it shapes your life forever.
Then, I went to work for Goldman Sachs, commuting from New York to Calgary.
At Goldman, one of my first major deals is also one of the deals I am still the proudest of today: The Alliance Pipeline.
In the 1990s, there was too much gas in Alberta. Prices were low, and nobody was making money.
We helped get that project off the ground, delivering rich natural gas and liquids from the Western Canadian Sedimentary Basin to the Chicago market hub — and putting the basin back in balance.
That pipeline closed the natural gas price differential, supported jobs, and brought Alberta better royalties and the federal government more revenue. A better price for Canadian energy helped every Canadian — just like more recently, with the building of the TMX expansion.
My experience in the energy and resource sector did not stop there. I served on the boards of MEG Energy and Hydro One. I’ve helped finance OSB mills in High Level and Grande Prairie. I worked on IPOs, including Cameco’s listing on the NYSE and Capital Power’s IPO here in Alberta. And I helped finance potash projects and even a pulp mill in Meadow Lake, Saskatchewan.
During the global financial crisis, I had the privilege of serving our now-Prime Minister, Mark Carney, as his special advisor at the Bank of Canada. Those were turbulent days, and they taught me that leadership is about action when it matters most.
But ultimately — that belief in the power of leadership — combined with the deep sense of public service and patriotism I learned in the Forces … led me here today.
I’m a pragmatist, a businessman. When I see something that needs changing, I work hard to change it.
That’s why I joined this government: because I believe in public service that delivers results. And most of all, because I love this country.
Where We Are Now
Today, we find ourselves at a pivotal moment. Global economies and markets are volatile. President Trump’s tariffs are disrupting trade, threatening Canadian jobs and industries, and rewriting the rules of the game.
We did not ask for this trade war. But we are going to win it.
When President Trump says, “We don’t need Canada’s lumber, energy, autos, or minerals,” it’s not exactly subtle. We know what that really means: the Americans really need all those things.
The President likes to talk about it like a card game. So, if we’re going to sit across the table from him or anyone else, we need to hold Canada’s best cards. That means being able to sell our products to the world. It means expanding our markets, modernizing our infrastructure, and creating the conditions to compete and win.
That’s why I’m working with my new Cabinet colleagues and every provincial and territorial government to retool our economy to strengthen Canada’s hand — not just in Washington, but everywhere.
Ultimately, though, this is not a game.
Jobs and livelihoods are at risk — from miners in Saskatchewan to forestry workers in B.C., from rigs in Alberta and Newfoundland to Ontario’s auto plants.
The old economic relationship with the United States is over. We need to accept that. We need to prepare to compete as Canadians, on our terms.
Prime Minister Carney has laid out a clear strategy: We will be masters in our own home. We will not bow to economic aggression. We will defend our workers, our industries, and our values. And we will build a new foundation — one that delivers the strongest, most resilient economy in the G7.
We are living through what the Prime Minister calls a “hinge moment” in our national story. This is not a time for half-measures or slow steps. It is a time for bold action, clear decisions, and a renewed spirit of building.
That means reframing the national conversation.
No more asking, “Why build?” The real question is, “How do we get it done?”
That means breaking apart barriers and ripping down red tape. It also means doing things responsibly the first time: meeting our Duty to Consult so Indigenous Peoples are true partners, and protecting our environment so we don’t have to clean up mistakes later.
I want to be very clear. In the new economy we are building, Canada will no longer be defined by delay.
We will be defined by delivery.
Canada as an Energy and Natural Resources Superpower
So what does delivery look like? It begins with a vision: to build Canada into a conventional and clean energy and natural resources superpower.
We have the resources. We have the people. We have the ideas. And we now have a government determined to lead and help unlock the potential of Canadian workers and businesses.
We are taking major steps to back that vision with action.
First, we will identify and fast-track Projects of National Interest. These are the projects that matter — to our economy, our environment, and our sovereignty. No more five-year reviews — decisions will come in two years for all projects.
To make that happen, we’re standing up a Major Federal Projects Office. It will be a single window for permits, bringing together what used to be scattered across departments. It’s about making “One Project, One Review” real. Less red tape, more certainty, better outcomes.
And we’re doing this not just for speed, but for purpose.
Because Canadian energy is not just about domestic prosperity. It’s a tool for global stability and transformation.
It’s high time to trade more with people who share our values — not just our border. Your new government will work fast with the provinces and territories, industry and Indigenous partners to diversify our trade and open and expand new markets for energy and natural resources.
Every barrel of responsibly produced Canadian oil and every kilowatt of clean Canadian power can displace less clean, riskier energy elsewhere in the world. Our exports can help our allies break dependence on authoritarian regimes and help the world reduce our emissions.
And by working with the energy sector to make investments that fight climate change, we can get more barrels to market while cutting carbon emissions.
And by the way, the building doesn’t stop with energy: we need housing too, as you in Calgary know well. And that housing needs lumber. Good thing Canadian lumber and engineered wood products are among the best in the world for building.
This is basic economics: comparative advantage. We’re better at energy, forestry and mining than most of the world. We do it cleaner, safer, and with stronger labour standards and Indigenous rights. Let’s be proud of that. And let’s use the revenues to strengthen our economy, fund public services, and build the next generation of Canadian prosperity.
I’m not here to waste time — mine, yours, or Canada’s. Like Prime Minister Carney, I have a strong vision for each sector within Canada’s energy and natural resources fabric. So, let’s talk about what that looks like.
Oil & Gas
Let’s start with oil and gas.
Canada will remain a reliable global supplier — not just today, but for decades to come. The real challenge is not whether we produce, but whether we can get the best products to market before someone else does.
We need infrastructure that gets our energy to tidewater and to trusted allies — diversifying beyond the U.S.
We will invest in carbon capture, methane reduction, and other technologies to ensure Canadian oil and gas is not only produced responsibly, but is the most competitive in the world.
All of us — governments and industry — need to get the Pathways Project done.
This government will not be a government of talk, but a government of action. We need the same from the province of Alberta and the Pathways Alliance.
Your federal government has committed to certainty, to support, and to making Canada an energy superpower, but we need a partner who is also willing to make good on their promises to Canadians. We need to demonstrate to our customers outside the U.S., and to our fellow Canadians, that we are a responsible industry — and this government believes Pathways is critical to that reality.
Through it all, we need to ask questions about two things at the same time: economics and security. They run in parallel, but they are not the same. One project can be an answer to both, but first let’s make sure we are asking the right questions.
I am old enough to remember the oil embargo in 1973, when the SS Manhattan, bound for Quebec, was diverted to the United States, leaving Eastern Canadians vulnerable. We can’t let that happen again. Eastern Canada needs better supply security. We need to reduce our exposure to foreign energy, in a world where we may not be able to rely on trade agreements with our southern neighbours.
Energy is power. Energy is Canada’s power. It gives us an opportunity to build the strongest economy in the G7, guide the world in the right direction, and be strong when we show up at a negotiation table.
Hydrogen, Nuclear, and Biofuels
We can’t end the energy conversation having only talked about oil and gas. We must also invest in promising, scalable energy sources like hydrogen, geothermal, advanced biofuels, renewables and nuclear. These are not speculative bets — they are scalable, exportable solutions with rising global demand that will diversify and strengthen our economy.
Electricity
Further, as former Board Chair of Hydro One, I also know one or two things about the power of Canadian electricity.
I believe our future depends on integrated electricity grids. Our new government will quickly work with provinces and territories on east–west transmission and better integrate our systems. This is part of what the Prime Minister means when he says one economy, not thirteen.
A pan-Canadian grid means more reliable, affordable, sustainable power for Canadians. It means powering industries from AI to manufacturing. And it means exporting energy between provinces who want Canadian solutions.
Critical Minerals
When it comes to mining, we know that Canada also has what the world needs here: lithium, copper, nickel, cobalt, manganese and— of course — one of the world’s largest supplies of high-quality uranium.
But we need to do more than dig. We need to process and refine here at home, and export to the world, not just the U.S.
Our First and Last Mile Fund will connect remote projects to infrastructure, ensuring our critical minerals get to market with the associated value-added processing.
This is about creating a secure, vertically integrated supply chain that makes Canada the global supplier of choice.
Forestry
Finally, the forestry sector — the lifeblood of some 300 communities across Canada, including here in Alberta.
Canadian forest companies continue to face unjustified duties when exporting lumber to the U.S. These duties continue to place needless pressure on the Canada–U.S. trading partnership, impacting everyone from workers to home builders to consumers. While we continue to work towards a long-term resolution, we will use more Canadian wood at home to address Canada’s housing and other building needs.
Alberta and the West
Now … let’s talk about Alberta, specifically.
One of my first calls as Minister was to Minister Brian Jean. This relationship matters, and I am committed to a clean slate.
I may live in Toronto right now, but I was born on the Prairies. I want you to understand that I will be a voice for Alberta and Western Canada at the Cabinet table.
President Trump has done a lot. But one thing he’s done unintentionally is remind us that we need to act as one Canada. And not just one Canada, but one economy, and one market.
That includes actively working with provincial and territorial governments to harmonize and link carbon markets across the country.
Improving our system of carbon markets will make sure that, as Canadian industry reduces emissions, we are still competitive, able to withstand America’s trade war, and positioned to take advantage of new opportunities. I’m working closely with Minister Dabrusin and others to make this a reality.
The nation-building projects we must deliver cannot be delivered by governments on their own. These projects will be built by the private sector, with the support of Indigenous communities and other stakeholders. Governments can be a catalyst and an enabler — and the federal government is ready to do our part. I know — with your support — we can get this done.
These projects are crucial because not only are global markets changing but so, too, is our global environment. We need to build to meet both these challenges, and that will not be easy or free. That will involve thinking outside the box, outside of electoral cycles, and digging in on solutions that allow us to hand down a competitive, sustainable economy to our children and grandchildren.
I also want to say to every energy worker in this province and this country: Thank you. You are an integral part of Team Canada. You make Canada Strong.
I went to a vocational high school in Winnipeg, and many of my classmates didn’t go to university. One of my best friends spent 25 years on the rigs. His job on those rigs in Alberta bought him a home. It financed a good life. That’s how it should be.
During the election, I went door to door in my riding. It’s a suburban Toronto riding that would look a lot like the suburban ridings in Calgary or Edmonton. I learned that you can knock on any door, anywhere in Canada, and hear the same thing from new Canadians: We came here to build a better life.
They know, like we do in this room, that because of the opportunity Canada offers — through jobs in sectors like energy — it is the best country in the world.
And that’s what we need to protect. A Canada where hard work still pays off. Where good jobs — with or without a degree — are available for future generations.
This government isn’t just about people in suits in Toronto or Ottawa. It’s about people in hard hats, on the drilling pads, in the forests, and at the mills. From Peace River to Lethbridge, from engineers to rig workers — that work powers our country, and it earns our respect.
Time to Build
A strong Canada needs a strong Alberta.
To be strong, we will build things in this country again. We will make Canada a true conventional and clean energy superpower. That is our promise.
So let’s work together — government, industry, Indigenous partners, labour — to make it happen.
The Canadian energy industry is the best in the world. Let’s treat it that way. Let’s keep it that way.
Thanks for having me today.
And I’ll be back.
Because this is just the beginning. Your federal government’s door is open. My door is open.
Bring your ideas. Bring your ambition.
And together — let’s build.
Thank you.
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