10/04/2026
According to Bloomberg, the speed has been remarkable. Two weeks after Mark Carney's investment summit in Toronto, Shell-led investors formally approved doubling LNG Canada — a C$33 billion expansion. By Thursday, Carney was in Fort McMurray expediting approval for a new west-coast oil pipeline, with construction targeted for September 2027.
Stéfane Marion, chief economist at National Bank of Canada, told Bloomberg's Canadian Finance Conference in New York: "I'm the most optimistic I've been on growth prospects in Canada in over a decade because I think we're writing a new chapter on business investment."
Then he named the problem.
"You're putting a lot of pressure on your construction sector and that could be inflationary."
He was not alone. Ian Edwards, CEO of AtkinsRéalis: "Human capacity is going to be one of the real keys here." His company has almost tripled its nuclear workforce and still expects demand to outrun supply. Susan Reisbord, incoming CEO of Stantec: "With so many projects online or potentially online, it's about phasing them so that you don't create more labor shortages."
Two chief executives of Canada's largest engineering firms, at the same conference, saying the same thing: the constraint is no longer capital or permits. It is people.
The numbers back them. There were 98,600 job vacancies in trades, transport and equipment operator occupations in the second quarter — up 6.6 per cent on a year earlier. More than 70 per cent of businesses in construction, mining, quarrying, oil and gas have reported trouble hiring skilled workers, according to a government briefing note from March.
And the demand is only now arriving. LNG Canada Phase 2 alone will need more than 4,000 construction workers. TC Energy said this week it plans to nearly double the capacity of its Coastal GasLink pipeline following Shell's decision — another 2,100 at peak construction. Pacific Link, designated Thursday, is projected at up to 140,000 jobs across construction and operation.
Ottawa has seen this coming. The spring economic update committed up to C$6 billion over five years to recruit, train and hire 80,000 to 100,000 new skilled trades workers.
Training a journeyman takes four years. The pipeline needs people in September 2027.
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Canada has spent a decade being told it cannot get anything built. It is about to find out whether that was ever really about the permits.