Here are six facts about Canadian oil and gas that every Canadian should understand about the issue:
- Oil and gas power the Canadian economy.
- Canada’s only international energy market, the United States, is on a path of declining imports.
- New opportunities lie in Asia, but Canada lacks the infrastructure to get there.
- Canada loses billions each year from its lack of energy transport infrastructure.
- Energy can be, and is, transported safely.
- The world is not running out of oil. Today’s energy companies must be the catalysts to move to a lower carbon energy future.
Today we are holding our International Trade Day event where we will discuss what it means to be an energy nation in the 21st century under the theme Responsible Canadian Energy in Global Markets. Balancing the essential contribution oil and gas makes to our standard of living with environmental and social responsibility is not easy. Within the next two years, decisions on the future of Keystone XL, oil transportation by rail, East-West pipelines and improving our environmental performance while increasing our economic growth will have to be made. The choices we make will shape our economy for years to come.
What is at stake for Canada is hundreds of thousands of jobs, billions in tax revenues and enormous other economic benefits. The cost of inaction is huge, and we all need to work together—work together now, quickly and effectively to secure our future.