Outlook

Fundamental shift in the global energy economy

Geopolitical conflict has highlighted the fragility of global energy supply and elevated energy security as a priority, reinforcing Canada’s potential role as a reliable supplier of diverse energy sources.

Market diversification and energy security takes centre stage

Canada is well positioned to supply energy to markets seeking alternatives to their traditional suppliers. New access to Asian markets, strong operational performance, long-term reserves and growing public support for exports strengthen the industry’s growth outlook. New or expanded energy infrastructure is needed to deliver on the potential.

Continued investment in emerging sector major projects

While established oil and gas remains central, investment in low-carbon energy and innovation continues. Supportive regulatory and incentive frameworks are enabling major projects in liquefied natural gas (LNG), carbon capture and storage (CCS), and low-carbon hydrogen to move forward.

Workforce impacts beyond industry activity

Industry is producing more with fewer workers. Productivity gains have been realized by technology adoption and consolidation across the industry. While corporate functions are most affected by merger and acquisition (M&A) activity, field and operations roles remain resilient. An increasingly complex business, regulatory and geopolitical environment is shaping evolving skill requirements.

An integrated energy system and workforce

Canada’s energy industry is increasingly integrated and so is its workforce. Foundational technology, equipment, skills and expertise are being expanded and applied in innovative ways to develop new low-carbon energy sources and deploy emissions-reduction technologies. Many of the qualifications required by Canada’s emerging energy sectors already exist within established energy sectors.

Monitoring leading indicators of industry activity

As Canada approaches a potential generational shift in its global energy role, Careers in Energy (CIE), along with industry collaborators, continues to monitor policy, regulatory, and investment conditions that influence energy production and workforce needs.