Canada Seeks Competitive Edge Amid 10 Years of Economic Malaise

Jeff Lawson, executive vice-president of corporate development and chief sustainability officer at Cenovus Energy, believes Canada has an opportunity to fight back against 10 years of economic malaise. In a LinkedIn article, he argued that the new memorandum of understanding (MOU) between Ottawa and the provinces is worth the effort.

Cenovus operates in Alberta, Saskatchewan, and Newfoundland and Labrador, regions that carry a significant share of Canada's energy output. Lawson has a clear view of what regulatory delay costs and what certainty could unlock. He noted that the MOU represents an opportunity for Canada to become more competitive, with real growth from an energy sector that will make massive contributions to the Canadian economy.

Lawson emphasized that the people who had opportunities during the economic recovery should put in the effort to pay it forward. He believes that Canadians' wealth is spread out more evenly among average citizens, unlike the United States where wealth is concentrated among a few individuals. However, the chart shows that Canadian economic performance against the US has been degrading for the past decade.