The Globe and Mail reports in its Friday, May 2, edition that the heads of 38 Canadian energy companies have written to Prime Minister Mark Carney, outlining their requests for the sector following the Liberal Party's fourth term victory. The Globe's Emma Graney writes that this letter builds on a previous one from 14 energy chief executive officers, who called for an energy crisis declaration and the use of emergency powers to ease regulations, which they believe would boost domestic production and Canadian sovereignty. The latest letter emphasizes the need for simplified regulations and firm project approval deadlines, highlighting the importance of ongoing investment in oil and natural gas regardless of future demand changes. Without it, "global supply could fall by more than half within 10 years -- the question is, in what producing countries will investment occur, and the economic benefits realized?" they wrote. The group stated that current regulatory processes are "complex, unpredictable, subjective, and lengthy," hindering timely investments, increasing costs and creating market uncertainty. Mr. Carney pledged during the election campaign to fast-track approval processes for major resource projects.