Minister Rickford Delivers Remarks at Canadian Energy Summit

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The falling price of a barrel of oil will impact producers, governments and consumers
The falling price of a barrel of oil will impact producers, governments and consumers

The demand for energy must be tempered with the impact on the planet.
The demand for energy must be tempered with the impact on the planet.

CALGARY – BUSINESS – Greg Rickford, Canada’s Minister of Natural Resources, today delivered keynote remarks at the Economic Club of Canada’s annual “Canadian Energy Summit” in Calgary, Alberta. “Collaboration between governments and industry continues to create Canadian jobs, economic growth and long-term prosperity. Our substantial efforts must include supporting world-class environmental protection, global energy security, and energy market diversification,” stated Minister Rickford.

Minister Greg Rickford
Minister Greg Rickford

Minister Rickford emphasized the importance of Canada’s plan for Responsible Resource Development and strong partnerships in developing public confidence for oil and gas proposals. The Minister also highlighted Canada’s latest milestones related to creating jobs, economic growth and energy security.

He referenced this month’s launch of the Major Projects Management Office West to enhance engagement between governments, industry and First Nations Peoples. He also discussed the Government’s recent announcements regarding marine and pipeline safety, and new achievements resulting from government support for energy development and their benefit for Canadians.

The Minister also reinforced the importance of the private sector continuing to help build public confidence in major energy projects to help sustain Canada’s progress.

Background Facts

  • The oil and gas industry’s contributions to Canada’s economy add up to almost 7.5 percent of our country’s gross domestic product. It currently employs 360,000 Canadians directly and indirectly.
  • Canada’s overall business taxes are now lowest in the G-7; 46 percent lower than the US and 13 percent lower than the OECD average.
  • Canada has modernized regulatory review of major energy projects, eliminating duplication and providing investors with predictable, beginning-to-end timelines.
  • From 2005 to 2013, Canadian crude exports have increased by 63 percent and our country reduced our dependence on foreign sources of crude by 31 percent.
  • From a decade ago, United States imports of Canadian crude have increased 59 percent, and reached three million barrels per day for the first time in October 2014.
  • Since 2011, the National Energy Board has issued nine long-term liquefied natural gas (LNG) export licences to Canada projects, for a total of 135 million tonnes of annual LNG exports. Ten additional LNG export licence applications have been filed for Canadian projects.
  • Canada has a safe and reliable energy transportation system 99.999 percent of the oil transported via federally regulated pipelines is carried out safely.