Calgary Chamber: Economic Tensions Demand Unity

CALGARY — The Calgary Chamber of Commerce is demanding that provincial premiers and Prime Minister Mark Carney stop fighting and start cooperating on the economy. With leaders set to meet in Ottawa, the Chamber says collaboration isn't optional anymore—not with economic and geopolitical storms gathering on the horizon.

The plea comes as Alberta wages an open war against federal climate rules. Premier Danielle Smith isn't backing down.

The Regulatory Cage Match

Two federal regulations have Alberta's government ready to invoke provincial sovereignty laws. The first is the Clean Electricity Regulations (CER), which would force a net-zero grid by 2035. The second is the draft Oil and Gas Sector Greenhouse Gas Emissions Cap Regulations, released for consultation in late 2024 with final rules expected in Spring 2025.

In November 2024, Smith announced her government would use the Alberta Sovereignty Within a United Canada Act to oppose the federal emissions cap. That's not bluster—it's policy.

And the economic toll? Corporate investment in Alberta's renewable energy sector collapsed by 99% in 2025 compared to 2023 levels. The province is staring at a $6.4 billion deficit for the 2025-26 fiscal year.

The Alberta Electric System Operator (AESO) previously forecasted the CER could add $30 billion in costs and spike wholesale electricity prices by 35% between 2035 and 2050. Meanwhile, Alberta maintains it sends a net average of $20 billion annually to the rest of Canada through federal transfers.

Translation: Alberta feels like it's funding its own economic strangulation.

Business Leaders Want Out

Deborah Yedlin, CEO of the Calgary Chamber of Commerce, has advocated for the withdrawal of both the CER and the emissions cap, citing regulatory uncertainty as a job killer. She's not alone. Lisa Baiton, CEO of the Canadian Association of Petroleum Producers (CAPP), has also argued that the emissions cap will deter investment and lower production.

The message from Calgary's business community is clear: These rules don't just complicate boardroom spreadsheets. They freeze hiring decisions. They shutter projects. They send capital south.

What Happens Next

Premiers and Prime Minister Mark Carney are scheduled to convene in Ottawa for a First Ministers' meeting. The gathering will take place before the federal government finalizes its oil and gas emissions regulations in Spring 2025—and before the mandatory review of the Canada-U.S.-Mexico Agreement (CUSMA) in Summer 2026.

Whether cooperation wins out over confrontation remains to be seen. But the economic clock is ticking, and Alberta is watching the deficit grow.