{"id":102312,"date":"2025-10-25T05:08:00","date_gmt":"2025-10-25T12:08:00","guid":{"rendered":"https:\/\/resourcework2.devstudio.work\/?p=102312"},"modified":"2025-10-25T05:08:00","modified_gmt":"2025-10-25T12:08:00","slug":"davies-calls-for-ambition-and-reform-to-build-a-stronger-canada","status":"publish","type":"post","link":"https:\/\/resourcework2.devstudio.work\/?p=102312","title":{"rendered":"After Trans Mountain\u2019s success, Canada has a chance to modernize how it builds"},"content":{"rendered":"\n

A shift in ambition<\/strong><\/h3>\n\n\n\n

A year after the Trans Mountain Expansion Project<\/a> came into service, Mike Davies, President and Chief Operating Officer at Trans Mountain<\/a>, told the B.C. Business Summit 2025 that the project\u2019s success should mark the beginning of a new national mindset \u2014 one defined by ambition, reform, and nation building.<\/p>\n\n\n\n

\u201cIt took fifteen years to get this version of the project built,\u201d Davies said. \u201cDuring that time, Canadian producers lost about $50 billion in value because they were selling into a discounted market. We have some of the world\u2019s largest reserves of oil and gas, but we can only trade with one other country. That\u2019s unusual.\u201d<\/p>\n\n\n\n

With the expansion now in operation, that imbalance is shifting. \u201cThe differential on Canadian oil has narrowed by about $13 billion,\u201d he said. \u201cThat\u2019s value that used to be extracted by the United States and now stays in Canada \u2014 supporting healthcare, reconciliation, and energy transformation. About $5 billion of that is in royalties and taxes. It\u2019s meaningful for us as a society.\u201d<\/p>\n\n\n\n

Davies rejected the notion that Trans Mountain was a public subsidy. \u201cThe federal government lent its balance sheet so that nation-building infrastructure could get built,\u201d he said. \u201cIn our first full year of operation, we\u2019ll return more than $1.3 billion to the federal government, rising toward $2 billion annually as cleanup work wraps up.\u201d<\/p>\n\n\n\n

At the Westridge Marine Terminal<\/a>, shipments have increased from one tanker a week to nearly one a day, with more than half heading to Asia. \u201cCalifornia remains an important market,\u201d Davies said, \u201cbut diversification is finally happening \u2014 and it\u2019s vital to our long-term prosperity.\u201d<\/p>\n\n\n\n

Fixing the system to move forward<\/strong><\/h3>\n\n\n\n

Davies said this moment of success should prompt a broader rethinking of how Canada approaches resource development. \u201cWe\u2019re positioned to take advantage of this moment,\u201d he said. \u201cPublic attitudes are shifting. Canadians increasingly recognize that our natural resource advantages are a strength, not a liability. The question now is whether governments can seize it \u2014 and whether we\u2019ll see that reflected in policy.\u201d<\/p>\n\n\n\n

He called for \u201cdeep, long-term reform\u201d to restore scalability and investment confidence. \u201cLinear infrastructure like pipelines requires billions in at-risk capital before a single certificate is issued,\u201d he said. \u201cCanada has a process for everything \u2014 we\u2019re a responsible country \u2014 but it doesn\u2019t scale for nation-building projects.\u201d<\/p>\n\n\n\n

Regulatory reform, he added, must go hand in hand with advancing economic reconciliation<\/strong>. \u201cThe challenge of our generation is shifting Indigenous communities from dependence to participation,\u201d he said. \u201cThat means real ownership, partnership, and revenue opportunities.\u201d<\/p>\n\n\n\n

Davies urged renewed cooperation between Alberta and British Columbia, calling for \u201cinterprovincial harmony\u201d on West Coast access. \u201cI\u2019d like to see Alberta see B.C. as part of its constituency,\u201d he said. \u201cAnd I\u2019d like to see B.C. recognize the need for access.\u201d<\/p>\n\n\n\n

He summarized the path forward in plain terms: \u201cWe need to stem the exit of capital, create an environment that attracts investment, simplify approvals to one major process, and move decisions from the courts to clear legislation. If we do that, we can finally move from being a market hostage to being a competitor \u2014 and a nation builder.\u201d<\/p>\n\n\n\n

<\/p>\n\n\n\n

An earlier version of this story mistakenly attributed to Mr. Davies comments from another speaker on the same panel. These have been removed. We apologize for the error.<\/em><\/p>\n\n\n\n

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