‘Markets build when governments set clear rules, credible timelines and consistent decisions,’ Ebel tells the Empire Club of Canada
Enbridge CEO Greg Ebel delivered a clear and urgent message today to business stalwarts assembled in Toronto at the Empire Club of Canada.
Canada must build—or risk being left behind.
Equal parts wake-up call, roadmap and locker-room speech, Ebel implored Canadians, governments and institutions to act as decisively as we did at critical junctures in the past. From the St. Lawrence Seaway to a national railroad—monumental feats of engineering, planning and collaboration—we did it before and we can do it again.
“When Canada builds, Canada prospers,” Ebel said, adding the stakes today are even higher in a world where energy security defines national and economic strength.
At the moment, Canada is stuck in neutral while global competitors are sprinting ahead, said the leader of North America’s leading deliverer of energy. “We can’t walk anymore; we need to run—fast.”
Ebel, originally from Ontario, called the past 10 years a “competitiveness disaster” for Canada. From that bleak reality, however, he offered the opinion that the next 10 could be a renaissance—if Canada chooses to lead. The country has the resources, talent, and environmental standards, he said. What’s missing? Speed and certainty.
"We have a long way to go. Canada has extraordinary resources, a skilled workforce and leading environmental standards. Yet we are not moving fast enough. Projects linger. The permit process stretches on. Capital looks elsewhere. . . . We’re losing this race. We now need to be a lot faster than our competition just to catch up, just to create confidence."
Greg Ebel
Enbridge President and CEO, in an Oct. 2 speech to the Empire Club of Canada
Ebel applauded Prime Minister Mark Carney’s early and stated ambition to make Canada an energy superpower—with clean and conventional energy leading that charge—but he warned the time for talk has passed, and that actions today can and must help restore Canada’s reputation globally.
Projects remain stalled and the permitting process is still a quagmire. Tanker bans and emissions rules haven’t changed, and continue to make Canada less competitive. All the while, capital flees.
“Markets build when governments establish clear rules, set credible timelines, and make consistent decisions,” Ebel said.
Energy, meanwhile, isn’t a niche—it’s a pillar of prosperity that delivers more than 10% of national GDP and a third of Canada’s exports. In a financial hub like Toronto, it fuels finance, manufacturing, and tech. “This isn’t a provincial story. It’s a Canadian story,” Ebel said.
The energy sector is ready to invest, partner with Indigenous nations, and deliver—if government matches its urgency. And with this in mind, Ebel laid out the following five urgent steps, or calls to action that will help build Canada’s energy future:
- Smarter, simpler regulation: Canada’s approval process is a maze. Even the most responsible, Indigenous-supported, and environmentally sound projects face endless delays. Streamlining regulation would unlock investment and restore Canada’s credibility.
- Shorter, predictable timelines: Five-year approvals are unacceptable. The U.S. and Europe are accelerating. Canada must keep pace—or fall behind.
- Reward progress, don’t punish it: The emissions cap creates uncertainty and penalizes innovation. Canadian energy is clean and getting cleaner. It can help countries like China and India transition away from coal.
- Attract investment with coherent policy: Canada’s carbon levy is among the highest in the world. Without a unified framework, policy fragmentation drives away capital. Competitive, consistent policy is key.
- Accelerate Indigenous partnerships: Real progress means shared progress. Ebel called for meaningful Indigenous equity in energy projects. This isn’t just reconciliation—it’s nation-building, he said.
There are strong signals behind the assertion that public support for energy is soaring. Reports show the following: 88% of Canadians see oil and gas as vital to the economy; 75% support a western oil pipeline; 72% believe we can build pipelines and cut emissions; and Canadians understand we need options, in the face of 97% of crude exports going to the U.S.
Ebel closed with a challenge—shed modesty, embrace leadership.
“This is the time to remind ourselves—we should be the best at this. We should make the most of our resource bounty. We should lead the way and show the world how it’s done—wisely, responsibly, efficiently, effectively.
“The need is there. The rationale is there. The public sentiment is there.”
It’s now time to build.
