Minister Rickford Highlights Canada's Position as Secure, Stable, Responsible Energy Supplier

EDMONTON, Oct. 17, 2014 /CNW/ - The Honourable Greg Rickford, Canada's Minister of Natural Resources, today delivered remarks hosted by the Edmonton Chamber of Commerce, in which he discussed Canada's role as a secure, stable and responsible producer and supplier of energy.

During his address, the Minister highlighted three key frontiers for governments and industry to pursue: market diversification, environmental stewardship and community engagement. Strengthening Canada's position on each of these frontiers will maximize economic opportunities and maintain global competitiveness while successfully and responsibly developing Canada's natural resources.

Minister Rickford also reiterated the mutual benefit of Canada's energy relationship with the United States — one that encompasses two-way trade in a variety of energy resources, including crude oil, natural gas, nuclear power and electricity. He also highlighted that it stands to reason that Canada must also increase market access for Canadian crude beyond a single customer.

Between 2005 and 2013, Canadian crude exports have increased by 63 percent, and we reduced our dependence on foreign sources of crude by 31 percent.

Quick Facts

• Canada represents a secure, stable economy in which to invest. For the sixth year in a row, the World Economic Forum has rated Canada's banking system as the world's soundest. Three credit rating agencies — Moody's Investors Service, Fitch Ratings and Standard & Poor's —have reaffirmed their top ratings for Canada.
• In 2013, the energy sector contributed $175 billion, or 9.9 percent, of Canada's total gross domestic product.
• Canada benefits from one of the cleanest electricity mixes in the world, with 63 percent generated from renewable sources — the highest level in the G7.
• The federal government is taking action to lower emissions while growing Canada's economy. In 2012, emissions were 5.1 percent lower than 2005 levels, while the economy grew by 10.6 percent during the same period.

Quotes

"Canada represents an abundant and responsible source of energy that can make an enormous contribution to global energy security, economic stability and environmental responsibility. Our government is firmly committed to working with the provinces, First Nations and industry to enhance opportunities related to energy development for all Canadians."

Greg Rickford
Canada's Minister of Natural Resources

SOURCE: Natural Resources Canada

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