The world wants the natural resources Canada has in abundance. Encouragingly, we’re beginning to act like we’re getting the message.
Early in March, the Newfoundland and Labrador government reached a landmark agreement to advance Bay du Nord, Canada’s first-ever deepwater offshore oil development. It is expected to generate up to $6.4 billion in direct provincial revenue in Phase 1, create thousands of jobs and bring the project proponent closer to a positive final investment decision by 2027.
In Ontario, the construction of four small modular nuclear reactor units is underway at the Darlington site – the first project of its kind in the G7 – a historic step forward to meeting Canada’s rapidly growing electricity needs. Also, if they proceed, the Bruce C and Wesleyville reactors could create thousands of long-term jobs, generate hundreds of billions of dollars in economic impact, and power millions of homes and businesses for decades to come.
In Saskatchewan, two uranium mines have finally received regulatory approvals after years of slow progress, the first to be built in a generation. Canada is already home to some of the world’s largest high-grade uranium reserves, and these projects could help us reclaim our position as the number one producer and exporter while creating vital economic opportunities here at home.
Alberta is positioning itself as a global hub for artificial intelligence (AI) and data centres, with an ambitious goal of attracting $100 billion in private investment before the end of the decade. Canada’s energy-rich province is well-positioned to supply these data centres with the electricity they require.
Together, these announcements are cause for real optimism. They tell a bigger, more powerful story: Canada is saying yes to resource development. And it’s long overdue.
But here is the truth. Announcements and approvals are just the start. To fully capture the economic potential of these projects – and the many others that should follow – Canada needs the infrastructure required to move more of our resources to global markets. That means building more pipelines, power plants, transmission lines, ports, railways and roads. These are the arteries of a thriving resource economy, and right now, we don’t have enough of them.
That is the mission behind TimeForAction.ca, a Canada Action initiative that calls on our governments to clear the path for nation-building development and to get our country’s economy moving in the right direction. Lately, strong support has been shown for some of our most promising projects. Now we need to make sure they are built without any delay.
The world wants what Canada has: reliable energy, critical minerals and metals, abundant oil and natural gas, vast forests and fertile farmland. We have it all. But potential without execution is just a missed opportunity.
Let’s not squander this moment. The green lights are on. It’s time to build.
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Cody Battershill is a Calgary realtor and co-founder/spokesperson for CanadaAction.ca, a volunteer-initiated group that supports Canadian energy development and social, security, and economic benefits that come with it.