Canada’s natural resources could be our greatest strength—if only we’d retake the initiative

As published by The Hub

Canada is navigating a new world order marked by instability and uncertainty.

To succeed, we’ll need to shed our typically bashful Canadian reflexes and embrace the reality that we hold much of what the world needs. This is not a moment for humility or for quietly downplaying our strengths.

In fact, it’s the opposite. We need to expand our international reach and reframe our brand in the global community with confidence. To that end, the Business Council of Canada recently published a report, “Selling to our Strengths”, that provides a roadmap to get us there.The report is a call for policy coherence and recommends a whole-of-government strategy that links Canada’s admirable export ambitions to pragmatic policies that will bolster our capacity to produce, transport, and enrich the value of Canada’s energy, food, and mineral resources.

We have an abundance of natural riches, but we lack the infrastructure—both physical and regulatory—to fully leverage our natural assets and deliver the commodities our allies and trading partners need.

The federal government’s One Canadian Economy Act, Bill C-5, is a step in the right direction, but major improvements are still needed in how we approve and permit major projects.

For one, proponents and investors need clarity on which projects fall under federal or provincial jurisdiction. The Impact Assessment Act, Bill C-69, should be amended to expedite approvals for projects on existing industrial sites, rights-of-way, or previously approved zones. Regulatory clarity and predictability are nation-building tools.

We also need to recognize that the timely delivery of our products to global markets is Canada’s Achilles’ heel. A national trade infrastructure strategy and a public commitment to permanently resolving the start-stop nature of our supply chains are urgently needed to unlock a new cycle of investment and reframe Canada’s reputation as a reliable trading partner. Canada experienced 62 work stoppages in the transportation sector alone in 2023 and 2024, involving close to 20,000 workers. We can and must do better.

Canada’s energy and resources can anchor North America’s energy security. Our global competitive edge includes oil and gas, uranium, hydro, and nuclear technology. A safe and secure North America can serve as a platform to provide our allies with the necessary supplies to bolster their national and economic security.

We must also acknowledge that global mineral supply chains are under threat. Export controls, price manipulation, rising military demands, and low inventories are among the most pressing challenges straining supply chains. Canada has much to offer in this regard. We recommend that Canada work with NATO and the private sector to establish a strategic reserve of critical minerals for defence technology and military use. This would re-establish Canada’s standing in the global defence community and position our mineral base as a pillar of national and allied security.

Canada’s natural resources should not just power our exports but also fuel innovation. There is a generational opportunity to turn resource development into a launchpad for new technologies, higher productivity, and lower emissions. To do that, we recommend establishing a federal advanced research projects agency focused on clean energy, resource-linked technology, and productivity-enhancing innovation.

Canada has a unique and time-bound opportunity to increase its energy, agriculture, and critical mineral exports. Rising geopolitical tensions and the weaponization of energy and natural resources are forcing Canada’s trading partners to rapidly secure strategic resources. With an endowment in each of these areas, we can and should respond by positioning Canada as a stable supplier to its allies.

But success will be contingent on ministers and their departments coming together to achieve a common goal focused on unleashing the country’s economic capacity.

To borrow a sports analogy, it’s time to regain possession, go on the counterattack, and take our best game to competitors as they scramble to secure market share.

That requires a team approach and everyone on the playing field to do their part.