The sector’s future depends less on Washington than on Canada’s own ability to build, diversify and compete, says industry insider

It's no longer about being big; it's about being fast. To thrive in this dynamic environment, companies must develop strategies to tap into new markets and talent, embrace the relentless pace of innovation and do it quickly.

Imperial Oil’s plans to cut 20 per cent of its workforce by the end of 2027 comes as part of a wider trend of industry job cuts as producers look to boost efficiencies amid lower oil prices and the availability of new technology.

Strategy has ancient roots, with one of the earliest documented discussions in Sun Tzu’s “The Art of War,” written around 400 B.C. This seminal work on military strategy has influenced strategic thinking for centuries.

Energy industry players and Alberta’s premier say they see promising signs in the first batch of projects announced under Ottawa’s new fast-tracked approval process, but environmentalists warn the inclusion of liquefied natural gas locks Canada into a high-carbon future.

Many businesses and industries will undergo significant changes in the coming decades as we navigate climate change, geopolitical uncertainty, artificial intelligence and other trends. Gaining ideas, inspiration and perspectives from the outside in is valuable.