Canada Minister of Natural Resources emphasizes key role of oil sands in the country’s energy future
Speaking at the at the University of Toronto’s Hart House Alumni Dinner Series, Canada Minister of Natural Resources, Joe Oliver, emphasized the pivotal role that Canada’s oil sands will continue to play in the country’s 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. New energy markets and infrastructure offer tremendous benefits to Canada and Canadians.—Minister Oliver
Minister Oliver also 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.”
He 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 sizable share of the country’s gross domestic product.