Tim Hodgson, the newly appointed federal energy minister, delivered an enthusiastic speech on Friday morning, emphasizing the importance of Canada's energy sector. Speaking to a packed audience in downtown Calgary, Hodgson highlighted his past experience in the industry and the urgent need for new energy projects.

"Energy is power. Energy is Canada's power. It gives us an opportunity to build the strongest economy in the G7, guide the world in the right direction, and be strong when we show up at a negotiation table," Hodgson stated, receiving loud applause from the business crowd. This event marked his first public appearance since being appointed by Prime Minister Mark Carney.

Hodgson, who was born in Winnipeg, has a diverse background. He served as a reserve officer in the Canadian Armed Forces from 1979 to 1985 and is well-known for his tenure as a banker with Goldman Sachs. He also advised Carney during his time at the Bank of Canada. His experience includes serving as board chair at Hydro One, Ontario's public electricity provider, and as a board member with MEG Energy, a major oil and gas producer in Canada.

Reflecting on his career, Hodgson recalled, "At Goldman, one of my first major deals is also one of the deals I am still the proudest of today: The Alliance Pipeline." This pipeline transports natural gas from Alberta and British Columbia to Chicago, and Hodgson noted its significant impact on the region's economy.

"We helped get that project off the ground. That pipeline closed the natural gas price differential, supported jobs, and brought Alberta better royalties and the federal government more revenue," he explained. He also referenced the Trans Mountain pipeline expansion, which was purchased and developed by the federal government under former Prime Minister Justin Trudeau.

Hodgson emphasized a shift in focus for the Canadian energy sector, stating, "In the new economy we are building, Canada will no longer be defined by delay. We will be defined by delivery." He reiterated the government's commitment to expedite decisions on major projects, aiming to reduce the timeline from five years to two.

He also addressed the global implications of Canadian energy exports, saying, "Every barrel of responsibly produced Canadian oil and every kilowatt of clean Canadian power can displace less clean, riskier energy elsewhere in the world." Hodgson highlighted the need for diverse energy sources, including nuclear power, and advocated for the Pathways project, a proposed carbon-capture facility in northern Alberta.

"All of us, governments and industry, need to get the Pathways project done. This government will not be a government of talk, but a government of action," he asserted. The Pathways organization includes major oilsands companies like Suncor, which is collaborating on this initiative.

Rich Kruger, CEO of Suncor, introduced Hodgson at the event, praising the government's focus on building as "music to our ears." Several industry leaders expressed optimism about Hodgson's appointment, viewing him as a strong advocate for the sector. Mark Scholz, head of the Canadian Association of Energy Contractors, remarked, "I haven't seen a federal cabinet minister talk about rig workers as much as Hodgson did in the last 10 years. It was a very encouraging speech."

Alberta Premier Danielle Smith and other provincial leaders have called for a political reset in Ottawa's approach to the West. Smith expressed concern over the appointment of new Environment and Climate Change Minister Julie Dabrusin, stating, "We are being forced to contend with yet another 'keep it in the ground' environment minister. This is a step in the wrong direction."

Despite the challenges, Hodgson's appointment is seen as a potential turning point for the energy sector. Industry insiders hope his blend of financial expertise and oilpatch knowledge will attract investment and foster policies that support growth. During the election campaign, Carney pledged to position Canada as the world's leading energy superpower, aiming to stimulate the economy and streamline regulatory processes for major projects.