Canada an 'emerging energy superpower'

[jesseps]

Federal Finance Minister Jim Flaherty declared to an American audience Thursday that Canada is an “emerging energy superpower” ready to supply the world with a safe supply of resources, including those from the controversial oilsands.

 

He made the remarks in a mid-day speech in New York City, where he was attending a forum attended by many key players in the U.S. financial sector.

 

Mr. Flaherty boasted of Canada’s success in several critical areas, including: the banking sector and mortgage market; job creation and low corporate taxes; and declining deficit and stable debt-to-GDP ratio.

 

“But that’s not all our country has to offer,” he said, according to a written text of his speech released by the minister’s office.

 

“We are a world leader on the commodities front — an emerging energy superpower, as we like to say. In good times or bad, Canada is — and will remain — a safe, reliable source of the resources the world demands.”

 

Mr. Flaherty pointed to Canada’s dominant place in the world, noting that this country is:

 

• the largest producer of potash and one of the largest producers of uranium

 

• the second largest producer of nickel

 

• the third largest producer of aluminum

 

• the largest exporter of forest products in the world

 

• the third largest producer of natural gas

 

• one of the world’s largest producers of hydroelectric power.

 

Moreover, he reminded his audience that Canada has the “second-largest known petroleum reserves on the planet next to Saudi Arabia.”

 

“We are a stable, reliable and secure source of oil for the United States, the single biggest supplier of this country in the world at about 1.9 million barrels a day.”

 

Amid continual discussion about the need for alternative forms of energy, Mr. Flaherty said the International Energy Agency predicts that oil will remain an important part of the global energy supply for decades to come.

 

“Our western oilsands will remain an integral part of the Canadian economy and global supply,” said Mr. Flaherty. “The economic benefits are clearly large. Along with that, however, come environmental challenges to land, water and air.”

 

The finance minister said that technological innovation has reduced the costs of oil production and that expanded reserves means the oilsands will be “commercially viable.”

 

He said the Harper government is investing in carbon capture and storage demonstration projects in Saskatchewan and Alberta as part of its plan to ensure the environment is protected.

 

“Canada already has one of the cleanest electricity systems in the world, with three-quarters of our electricity supply emitting no greenhouse gases at all. We are bringing the same responsible stewardship to the development of one of the few largely untapped sources of oil left in the world, one the world will be able to count on well into the future.”

 

(Courtesy of The Financial Post)

 

 

Plus they forgot, soon to be one of the largest producers of lithium. Thing is the US could get all their "black gold" from the Bakken Formation (part of it is in Canada but the rest is in the US).

 

Here some info on the Bakken: Research

Modifié 9 décembre 2010 par jesseps

[LindbergMTL]

Les commodities ou matières premières sont hot et vont continuer à monter en valeur. Le Canada est en train de vivre une expansion et une prospérité comme on ne l'a jamais vu, au moins pour les 20 à 30 prochaines années. Heureusement, il n'a pas mentionné la rareté de nos couleuvres