These are not just numbers. They represent real livelihoods in communities where energy development is often the primary economic driver. Our members provide high-paying skilled employment that supports families and local businesses.
For decades, indigenous representation has been integral to our sector. From indigenous-owned companies to partnerships, ownership stakes and training programs, our industry fosters meaningful economic participation and reconciliation. These opportunities build capacity, create wealth and enable self-determination in remote regions where energy exports directly translate to community prosperity. However, these benefits hinge on market access and competitive public policy. Without reliable export infrastructure, such as pipelines and LNG facilities, our sector faces volatility.
Competitive policies that accelerate critical projects, such as those under the Building Canada Act, are essential to diversify markets, attract investment and boost drilling and service rig activity.
Positive steps include the recent agreement to advance Newfoundland and Labrador's Bay du Nord offshore project and federal funding for E3 Lithium's Clearwater project in Alberta, both of which will create thousands of jobs and generate billions in economic wealth.
However, barriers persist. For instance, helium development could be unlocked by extending standard depreciation treatment and flow-through shares to this critical mineral, aligning it with policies for other resources.
Removing obstacles like the proposed oil and gas emissions cap, ensuring a globally competitive industrial carbon pricing model, and sensible methane emission regulations would provide stability, preventing investment flight to less responsible jurisdictions.
Streamlining regulations and harmonizing interprovincial rules, such as transportation and tax policies, would enhance workforce mobility, enabling our agile business model to thrive across borders.
Incentivizing innovation is equally vital. Our sector has pioneered technologies like high line power, battery storage and alternative fuels, reducing GHG emissions by up to 85% to 95%. However, exclusions from clean technology investment tax credits, simply because our equipment serves both traditional and emerging resources, undermine this progress. By supporting a full spectrum energy economy, we can ensure sustainable jobs that transition seamlessly from oil and gas to critical minerals and clean energy.
To close, CAOEC urges this committee to recognize the vital role of energy exports in sustaining jobs and communities. By building infrastructure and having competitive policies, we will secure economic growth, energy security and a bright future for all Canadians.
Thank you, and I look forward to the questions.