Canada's next government faces the dual challenge of leveraging the country's natural resources to mitigate global trade tensions while addressing the environmental and social issues associated with the oil and gas sector.

The potential exists for the new administration to transform environmental challenges into economic opportunities, particularly through the sustainable development of natural resources.

A major environmental concern is the tailings ponds from the Athabasca oilsands, which contain 1.4 trillion liters of fluid waste and are the largest source of methane emissions in Canada.

By processing tailings before they reach ponds, Canada could significantly reduce their volume and lower methane emissions by approximately 90%, contributing to a 4% reduction in the nation's overall emissions.

Moreover, developing a critical minerals industry through the reprocessing of oilsands tailings could generate an estimated $2 billion annually in GDP and create 144,000 well-paying jobs.

A strong domestic critical minerals sector would not only enhance Canada's competitiveness in global markets but also support value-added industries, particularly in nuclear energy and renewable power.

Canada's wealth of critical minerals and oil and gas is vital for North America's energy security and is produced under relatively high environmental standards compared to nations like Venezuela and Iran.

To foster innovation across industries, especially in energy, the government must establish a stable investment environment along with broad-based incentive structures, such as flexible investment tax credits.

Innovative technologies will be essential in overcoming these challenges, but without government incentives, Canada risks missing out on significant economic and environmental benefits.

Ultimately, effective federal leadership and supportive policies can enable Canada to enhance productivity, reduce environmental impacts, and reclaim its status as a global leader in resource management.