11:38:15 EDT Wed 16 Jul 2025
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Cenovus Energy Inc
Symbol CVE
Shares Issued 1,823,115,165
Close 2025-03-25 C$ 20.51
Market Cap C$ 37,392,092,034
Recent Sedar Documents

Globe says MEG, rivals seek change to IAAC's mindset

2025-03-25 07:12 ET - In the News

See In the News (C-MEG) MEG Energy Corp

The Globe and Mail reports in its Tuesday edition that the Impact Assessment Agency of Canada (IAAC) has not approved any projects since its inception in 2019, including over 50 initiatives like Ontario's Ring of Fire mines and Alberta's oil sands expansions. The Globe's Andrew Willis writes that Canada is trying to build an energy-based economy and fend off the advances of U.S. President Donald Trump with a regulatory approach defined by confusion and delay. Mr. Willis says that needs to change. Last week, chief executive officers of 14 major energy companies urged federal leaders to declare a Canadian energy crisis to facilitate project approvals. The logjam at the IAAC is central to the crisis. Before the federal election campaign, heads of the four largest pipeline operators and 10 major oil and gas companies urged politicians to shift the IAAC's mindset by designating key projects as in the "national interest." Supplying Alberta's natural gas to Europe via a Quebec terminal could cut carbon emissions and reduce Canada's U.S. dependence, making national interest outweigh regional concerns. The Impact Assessment Act and West Coast tanker ban are hindering development and need to be simplified said the CEOs.

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