Key Takeaways From the "Wild Frontier" Energy Business Forum at CEEA '74

Written By Steve Major KC, Drew Broughton, Kevin Myson and Julia Pasieka

Canada is navigating a "wild frontier" in the energy industry, with a unique opportunity to forge successful and sustainable partnerships both domestically and internationally. This was the rallying call at the Energy Business Forum during the 74th Canadian Energy Executive Association (CEEA) conference in Banff, Alberta, where industry leaders gathered to share visions for the future of Canada's energy landscape.

As active participants, along with other thought leaders, Bennett Jones has compiled our key takeaways from the keynote remarks, forums and panels at CEEA 74.

Opportunities in Alberta’s Energy Industry

Keynote speaker Alberta Premier Danielle Smith expressed her strong belief that Alberta stands at a pivotal crossroads for energy growth, with expanding international interest in Alberta's energy supply, as well as its unique opportunity to shape the future through innovative thinking and forward-looking policies. By embracing its role as a leader in the Canadian energy sector, Alberta can drive meaningful, lasting change that benefits the entire country and helps fund social programs, hospitals, schools, community centres and infrastructure across the nation. To accelerate progress, Alberta and other provinces, as the actual resource owners under the Canadian Constitution, should also take a proactive approach by negotiating directly with international investors and government authorities. Premier Smith believes that direct engagement can streamline project timelines, align stakeholders and reduce delays often caused by the federal regulatory process, ensuring that critical energy initiatives move forward efficiently. While the federal government may have some involvement in establishing international trade rules, Premier Smith believes that the provinces should not wait around for the federal government to lead this charge.

While there is cautious optimism in the sector around the One Canadian Economy Act, energy leaders understand that optimism alone is not enough. The Act must be supported by decisive action with federal and provincial governments working collaboratively to, as one panel aptly put it, get "stuff" done. This requires a shared commitment to breaking down bureaucratic barriers and fostering an environment where energy projects can thrive. Presently, there is simply too much regulatory policy slowing down the industry.

Premier Danielle Smith also discussed how Alberta also has the potential to lead in renewable energy development, demonstrating that the future of energy is about an inclusive mix. By leveraging its existing expertise in energy infrastructure and innovation, Alberta is uniquely poised to integrate renewables into its energy portfolio while continuing to support traditional energy sources. This balanced approach ensures economic stability, environmental responsibility and long-term energy security, proving that growth in renewables and traditional energy can coexist and drive a sustainable future—an "all of the above" approach. Today's reality, however, is that the sun doesn't always shine, the wind doesn't always blow, hydro-power in Alberta is negligible and nuclear power (for example, small modular reactors) are still a decade away, meaning that our oil and natural gas will realistically have to power most of our Alberta energy and serve as our baseload in the near future.

Premier Smith explained to the attendees that our Confederation consists of equal federal and provincial levels of government, not superior/inferior ones, which has meant Alberta has had to challenge the federal government when it strays from its proper jurisdictional lane. She cited two recent litigation successes (the plastics ban and Impact Assessment Act challenge, the latter involving representation from Bennett Jones) where the courts have agreed with Alberta's constitutional views.

Former Texas Governor and US Secretary of Energy Rick Perry, another entertaining keynote speaker, shared valuable lessons and strategies from Texas's success in becoming an energy superpower, a magnet for investment-driven growth and building a strong and educated workforce. He emphasized that Alberta possesses the same potential to lead, both within Canada and on the global stage, by championing energy that is sustainable, clean and secure. Creating a pro-business environment will facilitate this growth by attracting investment, fostering innovation and enabling the development of a skilled workforce to support Alberta's energy leadership ambitions. Governor Perry drew interesting comparisons of the entrepreneurial, hard-working, and "can-do" approaches found in both Texas and Alberta. As Texas has flexed its economic muscle to grow, so too can Alberta. Governor Perry espouses the theory that a realistic energy mix is, and will continue to be, at the centre of global wealth going forward and also a key part of the solution to ending energy poverty. He also supports occasionally challenging the federal government in court and shared his own extensive record of having done so when he was leading Texas.

Expansion of Data Centers and Energy Supply

The ongoing emergence of AI was a major topic of discussion, highlighting the significant opportunity for Alberta to attract investment in AI-powered data centres. These facilities, with their immense power consumption, cannot simply rely on the main grid, as their energy demands and need for stability could rival the electricity usage of the entire province. Premier Smith emphasized the importance of "behind-the-meter" solutions—independent power systems that operate separately from Alberta's grid—to meet these unique energy needs, which present a remarkable opportunity for producers in the province. Premier Smith was encouraging attendees to bring their projects to the fore, with the assurance that there will be quick approvals for those that make sense.

The consensus among conference attendees was clear: Alberta's abundant natural gas reserves, along with its cooler climate, presents an ideal solution. By building gas-powered facilities adjacent to data centres, Alberta can provide direct, reliable and efficient power, positioning the province as a leader in supporting the infrastructure required for AI innovation, and the ideal place to encourage investment in this growing market.

Governor Perry was adamant that North America has to win the AI/Data Centre race with the BRICS consortium, citing historical lessons as to how the future could change if it does not. Although there are currently US/Canada trade tensions, we remain geographic and cultural neighbours who "will continue to live with, marry, and do business with each other".

Dr. Virram Mansharamani—Author of Boombustology and Yale Lecturer

Guest speaker Dr. Mansharamani's writings have appeared in Bloomberg, Fortune, Forbes, he was a previous lecturer at Harvard and is a current lecturer at Yale. He has made a history of following global trends and made it clear that at least in his opinion, the previous surge of globalism and multilateralism has left most average citizens unfulfilled, and has been, in turn, now leading to both nationalism ("they did it to us") and populism movements ("we are doing it to ourselves") world wide—the combination of which has further led to protectionism.

In Dr. Mansharamani's view, the world is now bifurcating into two global systems, not only based on geography but also shared values, and is fueling a growing US/China war (and proxy wars) along the lines of national security, trade and the various races of arms, space, critical minerals, deep sea mining, digital technology and fintech, AI, global food, pharmaceuticals, frontiers (e.g., Arctic), as well as affecting trade and climate policies. Consequently, Dr. Mansharamani admits it is time to think differently, for example along the lines of a Western Hemispheric strategy, particularly emphasizing the strength and breadth of our North America Hydrocarbon industry.

Indigenous Engagement in Energy Projects

Alberta has long been a leader in Indigenous engagement, and conference speakers underscored the importance of involving Indigenous partners from the very beginning and throughout the entire lifecycle of energy projects—not just in the final stages. By embracing this approach, Alberta can continue its leadership in advancing energy projects while fostering meaningful participation and achieving better outcomes for all stakeholders. The recent TMX expansion, finally completed, is held to be an example of extensive Indigenous engagement primarily through Alberta and British Columbia and is keeping the promise of real economic reconciliation with our Indigenous communities.

Former Chief Councilor Crystal Smith also shared powerful lessons in leadership from Cedar LNG, Canada’s largest Indigenous-led infrastructure investment and the world’s first Indigenous majority-owned LNG project. Under Chief Smith’s guidance, the Haisla Nation was involved from the project’s inception, setting a benchmark for how early and sustained Indigenous participation can lead to both reconciliation and practical success. Cedar LNG stands as a model for future projects, demonstrating how collaboration can drive innovation and shared prosperity.

Chief Smith also emphasized Nation-to-Nation negotiations, which recognize the diverse interests, values and priorities of different First Nations along project routes. This approach fosters collaboration not only within Alberta but also across jurisdictions, as Indigenous communities in Alberta can work with their counterparts in British Columbia and the Pacific Northwest to build relationships and facilitate cross-border, direct-to-market energy projects. By adopting these strategies, Alberta can strengthen its role as a leader in reconciliation and energy development.

Reducing Global Emissions Through LNG Exports

Canada has a significant opportunity to play a pivotal role in reducing global greenhouse gas emissions by exporting its natural gas to replace coal in developing countries with large populations, where new coal-fired power plants are still being constructed on a bi-weekly basis. The demand for Canadian LNG extends to other Asian nations who are actively seeking increased LNG volumes, underscoring the strong international appetite for reliable, clean Canadian energy. Global emissions do not have geographic boundaries.

Keynote speakers and panelists emphasized that Canada cannot afford to miss further opportunities to expand its LNG exports, and that Canada must act now to meet growing global demand. Doing so would position Canada as a key player in the transition to cleaner energy while avoiding the risk of losing market share to international competitors, some of whom are not as committed to reducing emissions. The attendees' consensus was that, in fact, there is a business case for cleaner Canadian LNG, demonstrated by a continuing international demand for our supply.

Bennett Jones Energy Group

Bennett Jones is Canada's premier energy law firm, with the largest dedicated energy group in the country, active in all sectors of the industry. We welcome a discussion about how these trends and patterns highlighted at CEEA '74 may affect or impact your business and organization and how to best strategize going forward. We invite you to contact any one of the above authors in this regard.

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