Canada Must Return to its Resource-Building Roots and Secure Our Economic Future

Canada Must Return to its Resource-Building Roots and Secure Our Economic Future

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For much of our history, Canada was a nation of builders. From the early pioneers who carved out settlements in the wilderness to the ambitious entrepreneurs who developed our vast natural resources, we thrived because we took risks, worked hard, and laid the foundation for future prosperity.

But today, we act less like the hard-working builders we once were and more like a third-generation trust fund heir—entitled, complacent, and increasingly detached from the industries that made us successful in the first place.

There’s an old saying about family businesses and the wealth they create over generations: “The first generation builds it, the second generation maintains it, and the third generation squanders it.” This isn’t about individuals—it’s about patterns of behavior. And when we look at Canada’s approach to resource development over the past century, the parallels are impossible to ignore.

The Builders: Canada’s First-Generation Approach (Pre-1950s–1970s)

The first generation of a family business is made up of risk-takers and hard workers. They sacrifice everything to build something from nothing, knowing that success isn’t guaranteed.

That was Canada in the early days of resource development. Entrepreneurs, workers, and governments worked together to unlock the vast potential of our natural wealth—whether in mining, forestry, oil and gas, or hydroelectric power. This era saw massive infrastructure projects, from the construction of railways and pipelines to the development of the oil sands and the birth of world-class industries.

We were a country that understood that wealth isn’t created out of thin air—it has to be built.

The Stewards: Canada’s Second-Generation Approach (1970s–1990s)

The second generation in a family business isn’t as hungry as the founders, but they still respect what was built before them. Their focus is on maintaining and expanding the business, introducing rules and processes to protect what they have.

Canada’s approach to resources during this period was similar. Instead of just chasing growth, governments introduced regulatory frameworks to manage and distribute resource wealth. The oil sands were further developed, hydro projects expanded, and new policies ensured that resource revenues funded public services.

It wasn’t as bold or visionary as the first generation, but it was still pragmatic. We understood that resources were the backbone of our economy, and good policy meant balancing growth with sustainability.

The Squanderers: Canada’s Third-Generation Approach (2000s–Present)

By the time the third generation takes over a family business, the work ethic of the founders is often gone. The business is no longer seen as something to build but as something to manage—or worse, something to dismantle. Decisions start being made based on ideology rather than what is best for its long-term viability and success.

Sound familiar?

Canada’s approach to natural resource development over the past two decades looks a lot like a trust fund family squandering its inheritance. Instead of expanding and innovating, we’ve increasingly tied ourselves up in red tape, policy paralysis, and self-imposed limitations.

  • Pipeline projects have been blocked or abandoned (Northern Gateway, Energy East) due to regulatory uncertainty and political interference.
  • Investment in our energy sector has declined as global capital moves elsewhere, tired of the constant policy changes.
  • We’ve shifted from an economic mindset to an ideological one, prioritizing “phasing out” industries rather than leading in innovation.
  • We’ve become complacent, assuming that the wealth from past generations will always be there, even as other countries move ahead.

This is not how a resource-rich country should behave—especially not now when our resources are more critical than ever to our economic strength, national security, and global influence.

Why This Matters Now More Than Ever

Canada’s natural resources are not just a source of jobs and revenue; they are our greatest strategic advantage in an increasingly uncertain world.

Economic Strength: Resource development is one of the best tools we have to stimulate our economy and create prosperity for all Canadians. As global markets face uncertainty, ensuring strong domestic industries gives us resilience against external shocks.

Leverage in Global Negotiations: Countries with stable, reliable energy supply and critical minerals hold power in international negotiations. Whether it’s oil and gas, uranium, or rare earth minerals, the world needs what Canada has. Instead of restricting development, we should be using these resources as leverage to secure better trade deals and partnerships, benefiting Canadian families and our country as a whole.

Energy Security and Stability: Many of the world’s most stable nations are those with secure energy production. Canada has the potential to be a global leader in providing a reliable source of energy and minerals—but only if we choose to develop them.

Ignoring these advantages is like a trust fund heir refusing to take over a thriving business, only to realize too late that the wealth is running out.

How Canada Can Break the Cycle 

Some family businesses avoid the third-generation curse. They do it by returning to their entrepreneurial roots, bringing in strong leadership, and balancing tradition with innovation.

Canada can do the same. Here’s how.

1. Reigniting Our Entrepreneurial Spirit

Instead of suffocating industry with overregulation, we should be encouraging new investment in energy, mining, and forestry.

We need to stop treating resource development as a liability and start treating it as an opportunity for innovation.

2. Prioritizing Economic Growth Over Ideology

Good resource policy should be based on economic reality, not political posturing.

Canada has the potential to be a world leader in energy development, mining for critical minerals, and forestry—if we let industry do what it does best.

3. Stop Taking Our Wealth for Granted

Trust fund families can run into trouble when they assume their money will last forever.

Canada needs to understand that if we keep rejecting investment, delaying projects, and over-regulating industries, the world will move on without us.

We should be competing to attract investment, not pushing it away.

4. Embrace Innovation While Protecting Our Strengths

Canada should be at the forefront of small modular nuclear reactors, oil and gas innovation, and advanced mining techniques—not just shutting down industries in favour of imported alternatives.

The smartest family businesses survive by modernizing without forgetting what made them successful in the first place.

It’s Time to Build Canada Up

Canada has been coasting for too long on the hard work of previous generations. If we don’t change course, we risk becoming the trust fund kid who wakes up one day to find the money is gone.

Our resources are our best leverage in negotiating with global powers, securing a strong economy, and ensuring stability for all Canadians in the future. But they will only serve us if we choose to develop them rather than putting up roadblocks that push investment away.

It’s time to move past our third-generation complacency and get back to being a country that builds, innovates, and leads. Because if we don’t, someone else will.

Lynn Exner is a spokesperson for Canada Action, a volunteer-initiated grassroots group dedicated to promoting natural resource development and economic growth in Canada.