As the world looks on at events in Europe and energy shortages hit countries worldwide, policymakers are now taking a long, hard look at past choices they've made surrounding energy security and supply sources.
Europe - currently spending as much as $1 billion a day importing fossil fuels from Russia - is frantically looking for alternative producers to step in and take over supplying its energy needs.
Meanwhile, 940 million people globally still do not have access to electricity, and there are billions more who consume less energy than an American refrigerator does in a day. Additionally, roughly 3 billion have no access to clean cooking fuels.
If only there were another reliable producer that could fill in as an alternative energy source for Europe and the world?
Given current global events, global demand projections and a new global focus on Energy Security Guarantees (ESG), it's abundantly clear the world needs more energy, and lots of it - energy that should come from nations like Canada with world-class transparency, regulations and environmental protections.
But don't just take our word for it.
Here are several great resources talking about energy security and how Canada can and should play a major role as a top global energy producer.
Jonathan Wilkinson - Federal Minister of Natural Resources
"In fact, if you actually saw enhanced production from Canada, that's done in a low emissions way that can fit within our overall targets for climate.
It would actually be better for the global economy - or the global climate - because Russia doesn't do that. They do not pay as much attention from an environmental perspective."
Scott Moe - Premier of Saskatchewan
"The United States does not need to be sending representatives across the globe to find a steady supply of oil.
Saskatchewan is ready to replace Russian barrels of oil with some of the most sustainable, high-quality energy products in the world."
Andrew Furey - Premier of Newfoundland & Labrador
"Bay du Nord will be by far the best performer in the province's offshore from an emissions perspective. Emissions from Bay du Nord are estimated to be less than 8 kgs per barrel compared to an average of 13.8 kgs per barrel in the Newfoundland and Labrador offshore currently, and an international average of 16.1 kgs per barrel."
Jason Kenney - Premier of Alberta
"It’s time to add a second S to the ESG, and that is security. It’s something we can no longer pretend is immaterial to ethical investment in energy.”
Kaspars Ozolins - Latvia Ambassador to Canada
“We are trying to build a resilient energy system. If Canada is going to invest in LNG, we would wholeheartedly support it.”
Opportunity ripe for Canada to work on energy security with Indo-Pacific allies, says Japanese envoy
Kawamura Yasuhisa - Japanese Ambassador to Canada
“In a world where geopolitics and the geo-economy evolve quickly, it’s necessary for like-minded countries, such as Japan and Canada, to co-operate on energy security.”
Michael Yurkovich - Chief Executive Officer, TIU Canada
“As a proud Western Canadian and a leading investor in Ukraine’s energy sector since the Maidan Revolution eight years ago, I constantly think about Canadian-Ukrainian relations, specifically, how Canada can promote the national security and economic progress of both countries, and that of our Western allies.”
Deborah Yedlin - President & CEO, Calgary Chamber of Commerce - Chancellor, University of Calgary
“Moreover, if there really is concern for ESG — which one presumes there is because so many companies have left Russia in the last two weeks — can anyone honestly say Venezuela does a better job at stewarding the environment and paying attention to social and governance issues?”
Deborah Yedlin - President & CEO, Calgary Chamber of Commerce - Chancellor, University of Calgary
“Now is the time to change that channel. Because now is the time the world needs Canada's energy. Canada's energy sector, with current production of 4.7 million barrels per day of oil and 15.7 billion cubic feet per day of natural gas, is poised to play an important role in meeting the world's energy needs.”
Darryl White - Chief Executive Officer, BMO Financial Group
“Until 2050 and past, there’ll be an important international want for Canadian energy. Let’s make the alternatives at present to make sure that North American energy security is achieved, and that Canada can be the main producer it’s destined to be.”
Jack M. Mintz - President’s Fellow, School of Public Policy, University of Calgary
“We could provide greater support to Western security and at the same time boost the economy and reduce our deficit if we supplied more oil, gas and clean energy to our allies. We are already the largest energy exporter to the United States.
But less than five per cent of our energy exports go to countries other than the U.S. If we finished the Trans Mountain pipeline and built LNG export plants on the Atlantic and Pacific coasts, we could provide more energy to Europe and Asia, not just the United States.”
Eric Nuttall - Partner and Senior Portfolio Manager, Ninepoint Partners
“Market share that Canada voluntarily cedes due to any new restrictive legislation will be happily assumed by others that do not share our strong environmental stewardship, resulting in global emissions increasing, not decreasing, as the potential new policies intend.
Reducing hydrocarbon production also implicitly increases our dependency on renewables. The U.K.’s experience demonstrates that while renewable technology is promising, the required scale is just not there today to offer the necessary redundancies to be entirely relied upon.”
Grant Bishop - Founder of KnightForokay
“Finally, North America must ramp up our petroleum exports. By decarbonizing at home, we can free up supply for export, but we must build the infrastructure to pivot abroad.
Our federal government must prevent any disruption to LNG Canada and the Coastal Gaslink, commencing first flows as soon as possible. Other proposed LNG projects that are languishing under regulatory uncertainty should be accelerated.”
Joseph Quesnel - Senior Research Associate, Frontier Centre for Public Policy
“The Ukraine conflict reminds Canadians that access to stable and affordable energy has foreign policy importance. The good news is that the Western provinces can help address the problem.”
Mia Rabson - Canadian Press Journalist - Energy & Environment Reporter, Ottawa Bureau
“But even as the world’s fourth largest oil producer, Canada’s role in solving Europe’s immediate fossil fuel needs is going to be limited. Canada exports about 3.6 million barrels of oil a day, but 97 per cent of it goes to the United States.”
Boris Johnson - Prime Minister of the United Kingdom
“One of the things we are looking at is the possibility of using more of our own hydrocarbons, and you’ll have heard already about what the business secretary has had to say about licences for UK domestic production.
That doesn’t mean we are abandoning our commitment to reducing CO2 … We have got to reflect the reality that there is a crunch on at the moment. We need to intensify our self-reliance as a transition with more hydrocarbons.”
Jesse Kline - Deputy Comment Editor, National Post
“But experts seem to agree that our contribution will be marginal at best, because our energy industry has been starved of investment for years.
All because governments have scared away investors by consistently blocking proposed pipelines and LNG export terminals, which could now be supplying our allies in the U.S., Asia and Europe with oil and gas from a democratic country that abides by the rule of law, has strong environmental standards.”
Editorial Board - The Globe and Mail
“Amid all the challenges and complications, there has to be a sensible middle ground for Canada – one where we neither junk our environmental commitments nor shoot ourselves in the foot by forcing investors to take their money elsewhere.”
Ryan Tumilty - Parliamentary Reporter, National Post
“Europe is burning natural gas right now. It comes from Russia. If it is burning natural gas that comes from the United States or Canada, it is not emitting any more CO2 into the atmosphere than it was the day before it made that switch.”
Kelly Cryderman - Reporter and Columnist, The Globe and Mail
“...there are new calls for Western powers to get more serious about their defence policies. It will be just as important that they develop robust and realistic policies on energy.”
Adam Pankratz - Lecturer, University of British Columbia’s Sauder School of Business
“Canada has a real chance to become a world energy superpower if we build pipelines and encourage development and exploration. This will take great political will, but the benefits of resource development and energy sovereignty will accrue in our communities, our First Nations and our country for decades to come.”
Daniel Smith - President, Alberta Enterprise Group
“Will the Ukraine invasion finally be the wake-up call Canada needs to assert our role in the world and provide more secure, affordable, environmentally responsible energy?”
Yrjo Koskinen - Associate Dean of Research and Business Impact and BMO Professor of Sustainable and Transition Finance, Haskayne School of Business, University of Calgary
“Being able to export gas from the East Coast would put Canadian gas geographically closer to the European market than the U.S., which ships from the Gulf, or from the Middle East.
In the long-term, Canada can — and should — be a responsible global energy leader that provides clean energy with net-zero emissions from a democratic and reliable country. Will we finally take on this responsibility?”
The World Needs More Canada!
It’s abundantly clear that the world needs more energy from stable and reliable sources of supply. In other words, the world needs more responsibly produced Canadian natural resources!
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