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Canadian oil will find new paths to American markets

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World Pipelines,

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.

“While President Obama stated that the Keystone XL decision is not in the US national interest, Canada’s oil and natural gas industry is clearly in the Canadian national interest,” CAPP President and Chief Executive Officer Tim McMillan said.

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

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.

“Canada has demonstrated leadership in GHG policy and technologies relating to the oil and natural gas industry.”

President Obama failed to recognise Alberta’s leadership on climate policy. “Alberta’s oil and natural gas producers have paid a levy on carbon for longer than Keystone XL has been under regulatory review,” 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’s Oilsands Innovation Alliance.

“Canada has what the world needs – a reliable supply of energy that is produced safely and responsibly,” McMillan said. “Canadians will find a way to meet the demands of these global markets.”

Edited from source by Stephanie Roker

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