DAILY BRIEFING | 06.24.26

 

Headlines

Tariff hope

Prime Minister Mark Carney expressed cautious optimism about tariff talks with President Trump, emphasizing fiscal discipline and long-term industrial investments as Canadians increasingly seek economic clarity over trade disputes. Discussing persistent challenges, uncertainty, and economic headwinds, Institute for Research on Public Policy (IRPP) President Jennifer Ditchburn’s podcast with David Chaundy explored Atlantic Canada’s transition toward bioscience, aerospace, and offshore energy and its role in the country's long-term progress.

Business uncertainty

Canadian banks have exceeded expectations this year, though executives warned that uncertainty over the Canada-United States-Mexico Free Trade Agreement (CUSMA) continues to weigh on Canada’s recovery, even as clearer tax policies drive growth in the United States. At the Scotiabank Financials Summit, bank leaders voiced measured confidence, outlining strategies from delaying loan provisions to expanding Mexican operations once trade talks conclude.

Liberal promises

Prime Minister Mark Carney had set seven national priorities, with affordability and housing strongly resonating with voters, but skepticism grew over the government’s ability to deliver, as confidence declined on housing and trade. Opposition leader Pierre Poilievre accused Carney of overspending and failing to meet promises on fiscal restraint, sovereignty, and transparency.

AI chatbots

Experts advocated for strengthened safeguards in AI applications and reminded users about the fictional nature of chatbot interactions, particularly when engaging with vulnerable populations such as children. Incidents in Canada and the U.S. underscore the urgent need for tighter regulations to combat online fraud and address the psychological risks posed by AI technologies, as exemplified by a fraudulent investment platform and AI-induced mental health concerns.

Labour program

Conservative Leader Pierre Poilievre pressed to end the Temporary Foreign Worker Program, with analysts arguing it suppresses wages and undermines youth employment. The debate unfolded as divisions persisted over remote versus full-time office work for federal employees, and labour productivity fell 1% in the second quarter of 2025, driven by downturns in manufacturing and wholesale trade.

B.C. job action

The British Columbia General Employees’ Union launched job actions disrupting services such as driver licensing in Surrey, pressing for higher wages for its 34,000 members, though only about 2,000 are on picket lines. The union seeks a 4% wage hike in the first year, rising to 4.25% plus cost-of-living allowance, citing wage stagnation and inflation, while Finance Minister Brenda Bailey highlights fiscal constraints.

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Electricity

Algoma Steel Unveils First Eco-Friendly Electric Arc Furnace, Pioneers Canada's Largest Industrial Decarbonization Effort

Northern Ontario Business - July 11, 2025

Algoma Steel Group has reached a transformative milestone in its 120-year history by producing its first steel from a newly constructed electric arc furnace at the Sault Ste. Marie facility, a key step in reducing carbon emissions by up to 70% with environmentally friendly "green steel."

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Canada Commits $16M to Boost Clean Energy and Indigenous Partnerships in Atlantic Provinces

Natural Resources Canada - July 11, 2025

On July 11, 2025, Minister of Energy and Natural Resources Tim Hodgson announced nearly $16 million in federal funding for energy projects across the Maritimes, targeting clean energy technologies, smart grid modernization, and Indigenous community involvement through the Energy Innovation Program.

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Ontario Enacts Bill 5: Balancing Economic Growth with Environmental Protections

Legislative Assembly of Ontario - June 8, 2025

Bill 5, the "Protect Ontario by Unleashing our Economy Act, 2025," has officially become law, signaling a major shift in Ontario's legislative landscape by integrating economic growth strategies with environmental protections and strategic deregulations in sectors like energy, mining, and conservation.

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Elocity Unveils HIEV-Nano: Ontario's Next-Gen Bi-Directional EV Charging System

Elocity Technologies has launched the innovative HIEV-Nano project, a bi-directional EV charging system for multi-unit residential buildings and commercial sites, backed by over $1.3 million in funding to enhance Ontario’s grid resilience and EV infrastructure while integrating solar energy and battery storage.

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Ontario Unveils Ambitious Energy Plan to Meet 75% Surge in Electricity Demand by 2050

In response to a projected 75% increase in electricity demand by 2050 driven by data centers and electric vehicle adoption, Ontario launched a comprehensive energy initiative in 2024 with the *Affordable Energy Act*, aiming to bolster infrastructure and safeguard vital resources, while pioneering the G7's first small modular reactor at Darlington.

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Ontario Unveils $70M Nuclear Investment to Establish World’s First SMR Centre, Boosting Jobs and Sustainable Energy

Ontario is set to become a global leader in nuclear innovation with a $70 million investment from GE Vernova Hitachi Nuclear Energy to build the first BWRX-300 Small Modular Reactor engineering and service centre, creating over 300 jobs and training 2,000 individuals annually in Durham Region. This initiative is part of Ontario's "Energy for Generations" strategy, aiming to meet rising energy demands and foster economic growth, while establishing the province as a clean energy powerhouse.

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Ontario Pioneers G7's First Small Modular Reactor with New Darlington Project, Aiming for 2030 Completion

Fasken - June 4, 2025

Ontario has set a pioneering precedent in North America by becoming the first G7 nation to approve the construction of a small modular reactor (SMR), slated for the Darlington New Nuclear Project site, which is expected to be operational by 2030 and deliver 300 megawatts of power.

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BC Hydro Faces Power Challenges: Plans $36 Billion Investment Amid Rising Demand and Trade Tensions

The Canadian Press - May 20th 2025

Facing a projected 15% increase in electricity demand by 2030, BC Hydro grapples with challenges including drought, rising costs, and U.S. trade tensions, while assuring customers of its readiness through infrastructure investments and expanded renewable energy projects.

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Ontario Introduces Legislation to Prioritize Economic Growth in Energy Sector Amid Rising Demand

Global News - June 3rd 2025

Ontario is set to prioritize economic growth in its energy sector with the introduction of new legislation that allows for selective project prioritization, focusing on hydrogen energy and Canadian technology to secure affordable energy for future generations amidst rising demands from data centers.

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Ontario Announces Third Transmission Line to Power Downtown Toronto's Future Growth

CBC News - June 4th 2025

The Ontario government announced a plan to construct a third electricity transmission line for downtown Toronto to meet the area's projected doubling of energy demand by 2050, supporting infrastructure development and transit expansions, with proposed routes under consideration and a plan set to be finalized by August 2025.

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Oil and Gas

Canada Invests $21.5 Million in Alberta CCUS Projects to Boost Clean Energy and Job Creation

Office of the Minister of Energy and Natural Resources - July 4, 2025

The Canadian government has committed over $21.5 million to carbon capture, utilization, and storage (CCUS) projects in Alberta as part of a broader initiative, aiming to strengthen the country's energy sector, create jobs, and support its net-zero emissions goal by 2050.

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Debate Ignites Over Proposed Merger of Alberta River Basins Amid Environmental Concerns

CBC - July 10, 2025

A contentious proposal to merge Alberta's Peace/Slave and Athabasca river basins is stirring debate, as supporters argue it would streamline water use for oil and gas projects, while conservationists warn of significant ecological risks and call for thorough environmental assessments.

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Canadian Leaders Explore 'Grand Bargain' for New Pipeline and Climate Policy Amidst Conservative Pressure

CBC News - June 3rd 2025

In the Canadian Parliament, Conservative MPs pressed the government to greenlight a new pipeline, despite no specific proposal, as leaders discuss balancing climate goals with oil infrastructure development, echoing past strategies pairing energy projects with climate policies. Alberta Premier Danielle Smith proposes a "grand bargain" to expand pipeline capacity and support carbon capture efforts, amidst a backdrop of political critique and investment uncertainties.

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Alberta Wildfires Slash Oil Sands Output by 344,000 Barrels Daily, Disrupting Canada's Energy Sector

Reuters - June 2nd 2025

Wildfires sweeping through Alberta have slashed the province's oil sands production by over 344,000 barrels per day, about 7% of Canada's crude output, forcing evacuations and operational cutbacks for major companies amid a worsening national wildfire crisis.

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Canada Eyes New Pipeline to Boost Oil Exports, Integrating Green Investments Amidst Economic and Political Challenges

Financial Post - June 2nd 2025

At a recent summit, Canada's provincial leaders, supported by Mark Carney, Prime Minister, and Alberta Premier Danielle Smith, deliberated on a new pipeline proposal aimed at boosting oil exports to Asia, balancing economic gains with green investments, while grappling with political and environmental challenges. British Columbia's Deputy Premier and First Nations' concerns highlight the complexities entwined in advancing this infrastructure project.

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Canada Unveils Vast Natural Gas Potential in Newfoundland's Jeanne d’Arc Basin, Estimating Up to 11.3 Trillion Cubic Feet

Oil and Gas Journal - June 4th 2025

In a landmark assessment funded by a $4.7 million investment from the 2023 budget, Canada's Ministry of Industry, Energy, and Technology has unveiled an estimated 9.7 trillion cubic feet of natural gas in the Jeanne d’Arc basin, setting the stage for future exploration in offshore Newfoundland and Labrador.

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Mining

Intensified Deep-Sea Mining Debate Highlights Tension Between Economic Interests and Environmental Concerns

Associated Press - May 29th 2025

As The Metals Company showcases deep-sea ore samples in Japan to industry giants like Mitsubishi and Glencore, the contentious debate surrounding deep-sea mining intensifies, balancing the promise of critical mineral supply against looming environmental concerns.

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DRC Eyes US Investment, Peace Pact with Rwanda Amid Mineral Conflict

Reuters - May 25th 2025

The Democratic Republic of Congo is nearing a potential deal with the United States to attract investment in its critical mineral sector while seeking support to address a Rwandan-backed rebellion, aiming to finalize negotiations by June despite ongoing challenges.

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University of Michigan Study Warns of Looming Copper Shortage Amid Green Energy Boom

University of Michigan Press - May 22nd 2025

A University of Michigan study co-led by Professor Adam Simon warns that the skyrocketing demand for copper, driven by green energy transitions and infrastructure needs in emerging economies, could far outstrip current supply, underscoring urgent choices between essential infrastructure development and electrification efforts.

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Nicola Mining Ramps Up Operations with Gold Ore from Talisker, Initiates Copper Exploration in BC

Mining.com - May 21st 2025

Nicola Mining is gearing up for full production at its unique milling facility in British Columbia, anticipating upgrades and a permit amendment to enhance operations as it partners with Talisker Resources and Ocean Partners UK while exploring its New Craigmont copper project.

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Nova Scotia Municipal Leaders Unprepared and Concerned as Province Opens Door to Uranium Exploration

CBC News - May 22nd 2025

Municipal leaders across Nova Scotia are grappling with unease and a lack of preparedness following the provincial government's surprise invitation for uranium exploration proposals, marking the first such initiative in nearly 45 years and inciting urgent calls for better communication and environmental assurances.

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B.C.'s Bill 15 Faces Backlash Over Fast-Tracking Infrastructure Projects, Raises Environmental and Indigenous Concerns

CBC News - May 29th 2025

Premier David Eby's proposed Bill 15, the Infrastructure Projects Act, has sparked controversy in British Columbia by granting the government authority to accelerate significant infrastructure projects amid criticism over potential bypassing of environmental assessments and Indigenous consultations. While the government argues the bill will boost public infrastructure and economic opportunities, opponents worry about its undefined scope and the risk of unchecked decision-making power.

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Deep-Sea Mining Debate Intensifies as Impossible Metals Tests AI-Driven Technology Amid Environmental Concerns

CBC News - June 6th 2025

In the midst of advancing deep-sea mining technologies, San Jose-based Impossible Metals finds itself at the center of a heated debate about the environmental impacts of extracting mineral-rich nodules from ocean floors, with experts warning of potential ecological consequences while global leaders prepare to tackle the issue at the United Nations Ocean Conference in France.

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Regulatory

Canadian Regulators Greenlight Next Phase for ARC-100 Small Modular Reactor, Paving Way for 2029 Commissioning

World Nuclear News - July 9, 2025

Canadian regulators have cleared a significant hurdle for ARC Clean Technology's ARC-100 small modular reactor (SMR), finding no fundamental barriers during a crucial pre-licensing review phase, paving the way for a demonstration unit at New Brunswick's Point Lepreau nuclear plant.

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AUC Launches Consultation to Streamline Micro-Generation Application Process and Address Sizing Concerns

Alberta Utilities Commission - May 29th 2025

The Alberta Utilities Commission has launched a written consultation process to revise Rule 024, addressing stakeholder concerns about micro-generation application delays and the need for standardized system sizing, with feedback due by June 26, 2025.

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Oshawa Power Seeks OEB Approval for 3% Electricity Rate Increase, Public Input Invited

Ontario Energy Board - May 20th 2025

Oshawa Power is seeking approval from the Ontario Energy Board for a rate hike that could increase household electricity bills by approximately $6.70 per month starting January 2026, inviting public participation in the review process by June 9.

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Canada Unveils Clean Energy Regulations Aiming for Net-Zero Electricity by 2050; Faces Provincial Pushback

Borden Ladner Gervais LLP - January 6th 2025

Canada unveils its final Clean Energy Regulations and "Powering Canada’s Future: A Clean Electricity Strategy," setting ambitious targets to slash greenhouse gas emissions in electricity generation by 2035 and achieve a net-zero system by 2050, amid opposition from provinces like Alberta and Saskatchewan over economic and constitutional issues.

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Alberta Enforces New Security Regulation for Critical Energy Infrastructure

Norton Rose Fulbright - June 9th 2025

Alberta's new regulation under the Responsible Energy Development Act mandates key critical infrastructure facilities to bolster their security measures by adopting the CSA Z246.1 Standard, with the Alberta Energy Regulator empowered to strictly audit compliance and enforce cybersecurity and physical security protocols.

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Ontario Passes Bill 214 to Boost Electrification and Affordable Energy

Borden Ladner Gervais LLP - December 18th 2024

The Affordable Energy Act, 2024, introduced by Ontario Minister of Energy and Electrification Stephen Lecce and given Royal Assent on December 4, 2024, aims to modernize the province's energy landscape with strategic amendments focused on electrification, infrastructure development, and cost management to address rising energy demands, notably from increased electric vehicle adoption.

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Comings and Goings

Alberta Energy Regulator Announces Key Commissioner Appointments and Reappointments for 2025

The Alberta Energy Regulator has announced key changes to its hearing commissioners team, with notable appointments including Harold Robinson's reappointment and the promotion of Brian Zaitlin and Shona Mackenzie to full-time roles, alongside new entries Shauna Cartwright and Jillian Campbell, under the leadership of incoming Chief Hearing Commissioner Andrew MacPherson.

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Creative Energy Appoints New Leadership to Drive Growth in Low-Carbon Solutions Across North America

GlobeNewswire - July 11, 2025

Creative Energy has announced key leadership appointments, naming Mike Crawley as Executive Chair and Kieran McConnell as President and COO, to drive future growth and advance its mission of delivering sustainable district energy solutions across North America.

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