Canada stands at a crossroads in its energy future. The choices we make today—about what we build, what we sell, and what we preserve—will shape our nation’s prosperity, sovereignty, and climate commitments for generations.
As Prime Minister Carney explores the bold ambition of making Canada a global energy superpower, we would do well to look toward a proven model: Norway. With a disciplined commitment to public ownership, strategic investment, and long-term planning, Norway transformed oil revenues into the world’s largest sovereign wealth fund, now valued at over $1 trillion. More than just prudent financial engineering, it’s a national legacy that shields future generations from economic shocks and ensures broad prosperity.
Canada, too, has foundational pillars in place: the public utilities of Hydro-Québec and BC Hydro are among the most successful examples of government-owned enterprises on the continent. Their consistent revenues, accountable governance, and transparent operations are proof that Canadians both understand and support public ownership when it serves national interests.
With this context, the recent discourse around selling the Trans Mountain pipeline is puzzling. Rather than offload a critical piece of infrastructure, we should be expanding our public footprint in the sector. Retaining—and even building—pipelines to the West and East Coasts not only reinforces our energy independence but opens strategic corridors to international markets. These pipelines can be operated with environmental oversight, Indigenous partnership, and long-term public return in mind.
Moreover, Canada's liquefied natural gas (LNG) exports represent an often-underappreciated climate opportunity. Countries like India and China continue to rely on coal for energy. Canadian LNG, produced under some of the world’s highest environmental standards, can act as a transitional energy source—reducing global carbon emissions by displacing dirtier fuels abroad. We should lean into that role responsibly and deliberately.
But building pipelines and boosting LNG exports cannot stand alone. What Canada truly needs is a national energy legacy plan: a sovereign wealth fund built on public energy revenues, managed with independence and transparency, and invested in the long-term needs of the country—climate resilience, infrastructure renewal, innovation, and intergenerational equity. It would require courage to defy short-term political cycles and prioritize what we owe to the future.
Public ownership does not mean inefficiency, nor does it stifle private innovation. In fact, a stable, predictable, and revenue-generating public infrastructure backbone often provides the very certainty that investors and innovators seek. We’ve seen it in sectors like electricity and transit. Why not energy pipelines and processing?
Canada has the resources, the expertise, and—crucially—the democratic maturity to pursue this path. But it will take vision, collaboration, and a commitment to bold, nation-building policy.
Let’s not miss this moment.