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Shockproofing Canada: Why the Keystone pipeline is just the start of making us energy self-sufficientWe could all surely use some "shockproofing "... COVID-19, may prove to be exactly what the Canadian oil patch needed in order to cure its tarnished image and to be appreciated once again after being taken for granted for much too long. Out of the rubble, a new dawn may be rising Worth a read in its entirety. Snippets. *************** "Canada needs to become more secure by becoming more self-sufficient. In a new series — Strong & Free: Shockproofing Canada — the Post examines how a country made wealthy by globalization and trade can also protect itself against pandemics and other unknown future shocks to ensure some of our immense resources and economic power are reserved for our own security." *************************** "As Kenney is using Alberta’s balance sheet in an attempt to protect the export supply chains out of his province, there are growing calls for the federal government to take similar steps on a national level. Oil and gas remain the country’s top export and the current coronavirus pandemic has exposed glaring vulnerabilities in Canada’s ability to cope with the type of market shocks currently battering the economy, including the combination of an oil price war between Russia and Saudi Arabia and a complete collapse in oil demand as commuters stay home." ****************************** "The coronavirus pandemic and Saudi/Russia oil price war may be highlighting Canada’s lack of energy self-sufficiency, but its deficiencies were also exposed earlier this year when rail blockades cut off Quebec and Eastern Canada’s propane supplies for heating in the middle of winter. “Those are -term problems that we about for a long time,” said Marla Orenstein, director of the Natural Resources Centre at the Canada West Foundation. “One of the things being shown by this crisis is we don’t have clarity on what our national objectives are for energy. We don’t have a clear objective of what we want for our energy future. This crisis has shown, in high relief, the importance of getting this right.” *************************** She said there may now be more support for energy projects — which can employ a lot of people — in the near term, given the country faces an economic crisis in the middle of a health crisis. Orenstein expects continued opposition to major natural resource projects after the coronavirus crisis ends, but public support for that opposition may wane as governments post large deficits and huge numbers of unemployed people look for work. “When I look at Maslow’s hierarchy of what people are going to need, the economic effects of this COVID-19 pandemic are going to be enormous,” she said. “The economic need and the need for jobs is going to be absolutely huge.” ********************* “Most importantly for me, it’s a real, concrete vote of confidence in the future of the Canadian energy sector. We’re in a crisis environment with a crash in prices, but the pandemic will end and global demand will return,” Kenney said. “When we reach that point, we absolutely must have a major pipeline in commission. That’s what this is about.” |
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Msg # | Subject | Author | Recs | Date Posted |
265079 | Re: Shockproofing Canada: Why the Keystone pipeline is just the start of making us energy self-sufficient | Naamkat | 3 | 4/4/2020 7:44:34 PM |