Canada Has What the G7 Needs: An Abundance of Oil & Gas, Uranium, Minerals, Food, and Wood

Canada Has What the G7 Needs: An Abundance of Oil & Gas, Uranium, Minerals, Food, and Wood

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Canada has the resources the G7 needs - energy, forestry, mining, agriculture

The G7 Summit presents an unparalleled opportunity for Canada to underscore its crucial role as a dependable supplier of natural resources to the world.

In an era of growing resource insecurity and geopolitical instability, the need for stable and trustworthy trading partnerships has never been greater. Economic disruptions via trade disputes and the weaponization of energy and minerals by authoritarian states have highlighted significant vulnerabilities in our current resource supply chains.

With the third-largest oil and uranium reserves, the ninth-largest natural gas reserves, and a vast untold wealth of minerals and metals, Canada has the potential to play an increasingly larger role in addressing these challenges. 

However, Canada’s strengths go beyond our abundant reserves. Political stability allows companies to operate in predictable conditions. Trade agreements developed over decades emphasize Canada's deep-rooted partnerships with like-minded democracies. Ideally situated between Asia, Europe, and the U.S., Canada has near-direct access to the world’s largest consumers of natural resources. We are a highly innovative nation, leveraging cutting-edge methodologies and technologies to make resource extraction better in every way. From advanced production methods to efficient supply chain solutions, Canada is at the forefront of developing new approaches that ensure reliability and security for our G7 partners.

In a world often marred by uncertainty, Canada offers the kind of reliability the G7 cannot afford to overlook. But in order to step up for our closest allies, we must act decisively and with unity.

Canada must expeditiously approve new trade infrastructure projects – including pipelines, power lines, ports, railways, and roads – that will help transport more of our natural resources to the world. Whether it’s an oil pipeline from Alberta to B.C.’s coastline, a transmission line from Quebec to the eastern U.S., or critical mineral mines in Ontario’s Ring of Fire, Canada must support these projects with an urgency like never before.

Canada must also take a long, hard look at regulatory policies that are holding us back. Over the past months and years, Canadian leaders have identified several policies that have hindered our ability to get our resources to market. These include, but are not limited to, Bill C-48 (the Oil Tanker Moratorium Act), Bill C-69 (the Impact Assessment Agency) and the oil and gas emissions cap, all of which are not conducive to welcoming new private sector investment.

And it's no secret that Canada’s economy is facing challenges on multiple fronts. According to Deloitte’s latest economic outlook, those include U.S. trade tensions, declining consumer confidence, rising unemployment rates, housing market strain, inflationary pressures, and manufacturing decline, to name a few. Deloitte also makes several recommendations on how to address these economic challenges, which include, but are not limited to, boosting labour productivity, diversifying trade partners, supporting domestic supply chains, reforming our tax competitiveness, investing in new trade infrastructure, and streamlining permitting and regulation.

It’s clear as day that stepping up for the G7 aligns seamlessly with what Deloitte recommends to strengthen Canada’s economy, creating a win-win across the board. Expanding trade infrastructure and diversifying markets are precisely the steps needed to provide our trading partners with more Canadian-made resources while boosting domestic productivity and investment. These actions would not only position Canada as an increasingly reliable global resource supplier, but also drive economic growth and resilience here at home.

Canada is at a pivotal crossroads. With the right blend of ambition, unity, and strategic action, we can simultaneously uplift our economy and strengthen our ties with the G7 countries. The world is looking for a reliable partner during these uncertain times, and there’s no better country to meet that call than Canada.

Now is the time to act boldly—because if we rise to this moment, we have the potential not just to thrive and prosper, but to lead for generations.