Canadian Research at a Glance - May 19, 2026

Research evidence excerpt

Canadian Research at a Glance - May 19, 2026

CANADIAN RESEARCH AT A GLANCE

Canada into an energy superpower. Enhanced oil export diversification and carbon

competitiveness in the oil sands remain shared policy objectives under the vision

of Prime Minister Carney and Alberta Premier Danielle Smith. In our view, these

initiatives are strategically sound, but should neither be mutually dependent nor

carried out in a manner which jeopardizes the global competitiveness of Canada’s

energy sector. From where we sit, Canada’s oil majors are unlikely to support such

policy thrusts until suitable regulatory and fiscal frameworks solidify. Simply put,

there is no substitute for regulatory reform when it comes to energizing investment,

as Alberta’s generic oil sands royalty regime has proven. This Energy Insights report

builds on Awakening the Northern Giant.

Sabahat Khan (Analyst) Forthcoming National Electricity Strategy

(416) 842-7880; sabahat.khan@rbccm.com Published May 18 2026 18:51:08 EDT

Read-through for industrials

Our view: The recent announcement of the formation of a new National Electricity

Strategy adds to the increasing volume of nation-building initiatives/programs

announced by the Federal government which are providing an increasingly

favorable setup for Canada-exposed infrastructure names in our coverage. While

these initiatives are in the early stages, the momentum is certainly building.

Michael Harvey, P.Eng. (Analyst) RBC Canadian E&P

(403) 299-6998; michael.harvey@rbccm.com Published May 19 2026 00:15:00 EDT

Weekly Review and Valuation Tables

Calendar 2026/27 WTI futures were +5.6%/+5.4% week-over-week, while calendar

2026/27 Henry Hub futures were 0.6%/-0.7% week-over-week.

Sabahat Khan (Analyst) Saba’s Industrials Intel