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Canadian oil will find new paths to American markets

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World 鶹ýӳ,


Canada continues to pursue all forms of energy transportation to markets in all directions. This increased market access will create jobs, economic benefits and government revenues by taking advantage of growth opportunities in Eastern Canada, the US Gulf Coast, Washington state, California and emerging global markets.

鶹ýӳWhile President Obama stated that the Keystone XL decision is not in the US national interest, Canada鶹ýӳs oil and natural gas industry is clearly in the Canadian national interest,鶹ýӳ CAPP President and Chief Executive Officer Tim McMillan said.

鶹ýӳThe Keystone XL pipeline deserved to be approved on the facts of its environmental, economic and energy security merits,鶹ýӳ McMillan said. 鶹ýӳComprehensive US reviews found Keystone XL will cause no substantive change in global GHG emissions or other undue environmental impacts.鶹ýӳ

Canada is a stable, democratic country that develops its abundant natural resources responsibly with a strong focus on safety and the environment.

Alberta set greenhouse gas emission regulations in 2007 and recently increased its carbon price. Among the top suppliers of oil imports to the United States (Canada, Mexico, Nigeria, Saudi Arabia and Iraq, Venezuela), only Canada has GHG rules in place.

鶹ýӳCanada has demonstrated leadership in GHG policy and technologies relating to the oil and natural gas industry.鶹ýӳ

President Obama failed to recognise Alberta鶹ýӳs leadership on climate policy. 鶹ýӳAlberta鶹ýӳs oil and natural gas producers have paid a levy on carbon for longer than Keystone XL has been under regulatory review,鶹ýӳ McMillan said.

In the oilsands, companies have found ways to reduce per barrel GHG emissions by 30% since 1990 and continue to seek more reductions through technology development. Companies are investing more than CAN$1 billion collectively into developing new technologies to improve environmental performance through Canada鶹ýӳs Oilsands Innovation Alliance.

鶹ýӳCanada has what the world needs 鶹ýӳ a reliable supply of energy that is produced safely and responsibly,鶹ýӳ McMillan said. 鶹ýӳCanadians will find a way to meet the demands of these global markets.鶹ýӳ

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