NEW YORK — Today, the Honourable Joe Oliver, Canada’s Minister of Natural Resources, highlighted Canada's critical role in the future of the global energy supply during a keynote speech delivered at the Global Energy Summit in New York City. During his address, the Minister emphasized the pivotal contribution Canada’s diverse energy mix can make to North America’s economic prosperity, while also allowing us to make a significant contribution to global energy security and economic stability.
“Canada has the resources in place to meet its own needs and the growing energy demands of global markets,” said Minister Oliver. “We are aggressively working to enhance Canada’s position as a stable, secure and environmentally responsible energy supplier to North America and the world.”
This past September, the World Economic Forum ranked Canada’s financial system as the safest and soundest in the world for the sixth straight year. The Organization for Economic Co-operation and Development also revised its economic growth forecast projecting Canada to lead the G7 in economic growth for 2013.
Canada’s approach to the responsible development of natural resources includes supporting jobs, economic growth, environmental protection and the energy security of North America. Plans also entail reaching new markets for our energy resources to create opportunities for Canadian companies.
Canada is well-positioned to help fill demands for energy resources from countries who need them, with the third-largest known oil reserves in the world, fifth-largest production of hydroelectricity, fifth-largest producer of natural gas, the second largest producer of uranium and ninth largest installed capacity of wind power. The International Energy Agency predicts that, by 2035, global energy demand is expected to grow by 35 percent, with China, India and the Middle East representing 60 percent of this increase.
Since 2006, the Government of Canada has invested more than $10 billion on green infrastructure, energy efficiency, clean energy technologies and the production of cleaner energy and cleaner fuels. In a 2011 report, the International Energy Agency determined that Canada was second only to Germany in its rate of energy efficiency improvement among 16 countries.
As a result of its abundant energy resources, its strong, stable supply, and its commitment to responsibly developing natural resources, Canada is well-positioned to be a major contributor to the global energy market.