The Globe and Mail reports in its Tuesday edition that Royal Bank of Canada chief executive officer David McKay waded into the increasingly strained debate over the future of the country's oil and gas industry Monday with a passionate speech in favour of building new pipelines. The Globe's Andrew Willis writes that Canadians will see their standard of living fall and economy falter if industry executives, politicians, first nations and environmentalists cannot work together on developing oil and gas resources, Mr. McKay told an Edmonton audience. Mr. McKay said that while Canada can continue to be a leader in renewable energy and fighting climate change, "for all our strength in renewables, we also need to appreciate the strength of our oil and gas sector and how essential it is to our economy -- and the 700,000 Canadians who rely on the sector, directly or indirectly, for their jobs. Our oil and gas production is critical to our economy and to government revenue; it will also be critical to helping finance the sort of innovation we need for a cleaner economy." RBC's CEO was particularly critical of the lengthy approval process around pipelines, noting that Canada has not built a major pipeline since 2010.