Finance minister’s Calgary Chamber visit generates optimism for pipeline possibility

Ottawa's budget roadshow rolled into Calgary on Monday as talks to end Alberta's long-running energy disputes with the feds appear close to a deal.

Federal Finance Minister François-Philippe Champagne says Ottawa wants to “crowd in investment” and provide the oil and gas industry with the stability it needs to build projects and expand markets.

Speaking to the Calgary Chamber of Commerce on Monday, Champagne said Alberta remains central to Canada’s energy future.

“What we want to do as government is to crowd in investment, to create the conditions that would attract the investment,” he said.

“People understand the nexus between energy security, economic security, national security, and I think Canada is seen as this very trustworthy and reliable partner.”

Champagne said industry feedback helped shape the budget’s approach to competitiveness.

“They want regulatory certainty, predictability and stability so that they can plan their investments,” he said.

“We’ve gone a long way to say that now Canada would be the most competitive jurisdiction if you make a new investment from a tax perspective.”

Champagne also highlighted the new Major Projects Office, based in Calgary, as a signal that Ottawa intends to speed up project approvals.

“We’re putting our (Major Projects Office) at the heart of the place where we’ve been building big things that are known around the world,” he said.

Asked whether that could include new pipelines, Champagne pointed to the upcoming round of national project funding.

“The (Major Projects Office) will look at the projects and make the decisions when these projects come to be presented,” he said.

“One of the things I’ve heard for many years from Albertans is to make sure their products can have access to markets.”

Chamber of Commerce president Deborah Yedlin said business leaders were encouraged by the tone of the budget.

“One of the things that was in the budget was, of course, the elimination of the emissions cap, which we all were calling for, which really was going to function as a production cap,” she said.

“The energy sector, I think, is encouraged. We have a prime minister (and) we have a finance minister talking about Canada being an energy superpower. We have not had that rhetoric in Canada for a long time.”

Yedlin said she hopes the next round of major project announcements later this week will include concrete support for the oilpatch.

“We want to see pipeline announcements. We want to see Pathways getting a green light,” she said, referring to the industry’s proposed Pathways Alliance Carbon Capture Network.

Prime Minister Mark Carney, speaking earlier Monday in Fredericton, confirmed new federal infrastructure projects will be unveiled Thursday.

“They strengthen Canada’s autonomy, they diversify our economy, they’re built with Indigenous partners, they’re consistent with our climate goals and they have a real economic return,” he said.

Industry reaction has been cautious.

Gina Sutherland, a spokesperson for Enbridge, said the company is encouraged by Ottawa’s tone but wants faster action.

“We can’t speculate on what might be announced, but we are watching with interest,” she said.

“At this point, we are encouraged by a number of positive steps the federal government has taken toward building a stronger Canadian economy and increasing the competitiveness of our sector.

“What we can’t lose sight of, however, is that in order for large energy projects to move forward, the federal government must make various policy changes—simplifying regulations, shortening timelines for project approvals, committing to actions that help unlock production growth and enhancing Indigenous engagement.”

Alberta Premier Danielle Smith said over the weekend she expects the province’s negotiations with Ottawa to conclude soon.

“We’ve been going back and forth now daily on a memorandum of understanding, and I hope that we’re able to iron out some of the differences that we have in time for Grey Cup,” she said.

Immediately following his appearance at the Chamber of Commerce event, Champagne met with Smith as well as newly-elected Calgary Mayor Jeromy Farkas.