Prime Minister Mark Carney applauds as King Charles III delivers his speech in the Senate Chamber
Canada’s energy superpower ambition
The new government is talking and thinking big, and there are credible reasons to believe it is more than just grandstanding
In the face of threats to Canada’s economy and sovereignty by the second Trump administration, the federal throne speech opening a new session of the Canadian parliament on 27 May—read by British monarch King Charles III—reiterated the freshly minted Mark Carney government’s commitment to making the country the “world’s leading energy superpower in both clean and conventional energy”. “Canada’s energy sector is already world-class and increasingly global with new infrastructure access for oil via [Trans Mountain Pipeline Expansion: TMX], NGLs and soon gas via the imminent startup of LNG Canada Phase 1,” Mark Oberstoetter, vice president of research for consultancy Wood Mackenzie, told Petrol
Also in this section
13 March 2026
Brussels is again weighing a cap on gas prices amid the Hormuz crisis, but the measure could backfire by deterring the LNG cargoes Europe urgently needs
12 March 2026
Emergency oil stocks provide a last line of defence to oil market shocks, so the IEA’s unprecedented 400m bl release represents something of a double-edged sword
12 March 2026
LPG could rapidly expand access to clean cooking across Africa and prevent hundreds of thousands of deaths from indoor air pollution each year, but infrastructure shortages and regulatory barriers are slowing investment and market growth
11 March 2026
Missiles over Dubai and disruption in Hormuz are testing the emirate’s reputation—and shaking the energy hub at the centre of the Gulf economy
