Minister Oliver Highlights Canada’s Role as a Global Energy Superpower at the University of Toronto

TORONTO — The Honourable Joe Oliver, Minister of Natural Resources, this evening discussed the importance of Canada’s natural resources to the Canadian economy and global energy security at the University of Toronto’s prestigious Hart House Alumni Dinner Series.

Minister Oliver spoke to Canada’s regulatory system, noting that

“our Government believes that reviews for major projects can be accomplished in a quicker and more streamlined fashion, without compromising environmental protection or the duty to consult Aboriginal peoples.”

The Minister also focused on the importance of the fundamentals in Canada’s approach to economic prosperity: lowering personal and corporate tax rates, paying down debt, containing expenditures, reducing red tape, and promoting free trade and innovation. He added that the energy sector is one of the keys to Canada’s advantage in the global economy, now accounting for a sizeable share of our gross domestic product.

Minister Oliver also emphasized the pivotal role that Canada’s oil sands will continue to play in our energy future.

“Canada’s oil reserves are the most strategic of our energy assets — the oil sands in particular, where the majority of our proven reserve is located,” he said. “New energy markets and infrastructure offer tremendous benefits to Canada and Canadians.”