“There’s a good reason the Alberta government has become proponent of a pipeline to the north coast of B.C.,” Enbridge CEO Greg Ebel told the Empire Club of Canada in Toronto the day after Alberta’s announcement.

“The previous [federal] government’s tanker ban effectively makes that export pipeline illegal. No company would build a pipeline to nowhere.”

It’s a big lost opportunity. With short shipping times to Asia, where oil demand is growing, ports on B.C.’s north coast offer a strong business case for Canadian exports. But only if tankers are allowed.

A new pipeline could generate economic benefits across Canada and, under Alberta’s plan, drive economic reconciliation with Indigenous communities.

Ebel said the tanker ban is an example of how policies have to change to allow Canada to maximize its economic potential.

Repealing the legislation is at the top of the list of needed changes Ebel and 94 other energy CEOs sent in a letter to Prime Minister Mark Carney in mid-September.

The federal government’s commitment to the tanker ban under former Prime Minister Justin Trudeau was a key factor in the cancellation of Enbridge’s Northern Gateway pipeline.

That project was originally targeted to go into service around 2016, with capacity to ship 525,000 barrels per day of Canadian oil to Asia.

“We have tried to build nation-building pipelines, and we have the scars to prove it. Five hundred million scars, to be quite honest,” Ebel said, referencing investment the company and its shareholders made advancing the project.

“Those are pensioners and retail investors and employees that took on that risk, and it was difficult,” he said.

For an industry proponent to step up to lead a new Canadian oil export pipeline, it would likely require “overwhelming government support and regulatory overhaul,” BMO Capital Markets said earlier this year.

Energy companies want to build in Canada, Ebel said.

“The energy sector is ready to invest, ready to partner, partner with Indigenous nations and deliver for the country,” he said.

“None of us is calling for weaker environmental oversight. Instead, we are urging government to adopt smarter, clearer, faster processes so that we can attract investment, take risks and build for tomorrow.”

This is the time for Canadians “to remind ourselves we should be the best at this,” Ebel said.

“We should lead the way and show the world how it’s done: wisely, responsibly, efficiently and effectively.”

With input from a technical advisory group that includes pipeline leaders and Indigenous relations experts, Alberta will undertake pre-feasibility work to identify the pipeline’s potential route and size, estimate costs, and begin early Indigenous engagement and partnership efforts.

The province aims to submit an application to the Federal Major Projects Office by spring 2026.

This article was originally produced by the Canadian Energy Centre. See the original article here.