Minister Rickford: Canada Committed to Continental Approach on Energy Security and the Environment

NEW YORK, April 14, 2015 /CNW/ - The Honourable Greg Rickford, Canada's Minister of Natural Resources, today delivered keynote remarks during the Bloomberg Future of Energy Summit 2015, where he reinforced Canada's support for a continental approach to enhancing energy security, economic growth and the environment. Canada represents a secure, reliable and responsible producer and supplier of energy to the world.

During his address, Minister Rickford emphasized Canada's economic fundamentals and the Harper Government's actions creating one of the world's most favourable investment climates by lowering taxes and opening new markets through free trade agreements. Canada recently leapt from sixth to second place in Bloomberg's ranking of the most attractive destinations for business.

The Harper Government's low-tax plan has contributed to Canada's position as the second-fastest growing clean energy market in the G20. Canada and the U.S. have already harmonized environmental standards ranging from vehicle emissions to home energy efficiency. A presidential permit was recently issued for the U.S. portion of a cross-border hydro line that could meet 10 percent of New York's electricity demand.

Minister Rickford also discussed Canada's contribution to global energy security through energy innovation and efficiency in the oil sands. He noted that Canada has the ability to deploy its energy expertise, technology and products in partner countries to advance responsible resource development and use.

The Minister reinforced the benefits of the proposed Keystone XL pipeline and highlighted that the U.S. State Department's acknowledgment that the project is environmentally sound will create jobs and will replace insecure — and same or higher-emitting — sources of crude from countries such as Venezuela with a secure, reliable supply from Canada, North Dakota and Montana.

While in New York, Minister Rickford also met with key energy sector stakeholders to promote investment opportunities in the Canadian energy sector.

Quick Facts

• Canada and the United States enjoy the largest energy relationship in the world — more than $140 billion annually.
• Last year, Minister Rickford and U.S. Energy Secretary, Dr. Ernest Moniz, signed a Memorandum of Understanding on Energy Cooperation enhancing bilateral energy collaboration in 11 areas.  
• Canada benefits from one of the cleanest electricity mixes in the world, with 65 percent generated from renewable sources — the highest level in the G7.
• Over the past decade, Canada's economy has increased while emissions have decreased. Canada's per-capita GHG emissions are now among their lowest level since tracking began.
• There are already 70 pipelines delivering oil and gas across the Canada–U.S. border every day —safely and reliably.
• Canada's overall tax rate on new business investment is the lowest in the G7.

Quotes

"North America is a secure, responsible and reliable producer and supplier of energy. We have deeply integrated economies, abundant reserves, shared infrastructure and common values that underpin our strong collaboration. The North American energy sector is undergoing a profound transformation that for the first time puts our energy independence within reach."

Greg Rickford
Canada's Minister of Natural Resources

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SOURCE Natural Resources Canada

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