Natural Resources Canada

Natural Resources Canada

November 10, 2009 14:00 ET

Natural Resources Canada: Minister Raitt Concludes Successful Visit to New York

Promotes Canada's Energy Opportunities and Benefits of Cooperation

NEW YORK CITY, NEW YORK--(Marketwire - Nov. 10, 2009) - The Honourable Lisa Raitt, Canada's Minister of Natural Resources, concluded a two-day visit to the U.S. for talks about energy resources in Canada. Minister Raitt delivered a clear message to key business and national opinion leaders in New York: Canada is the largest supplier of crude oil to the U.S., focused on clean energy collaboration. And the source is right next door.

"Canada and the United States share the most successful trade relationship in modern economic history," said Minister Raitt to an event co-hosted by the Canadian Association in New York, the Canadian American Business Council and Canada's Consul General. "But a lesser-known fact is that Canada is the key to assuring North American energy security."

Canada has the second-largest reserves of crude oil in the world, after Saudi Arabia, and has access to approximately 175 billion barrels of oil. Extracting this resource is not without environmental challenges - land, air and water are all affected by oil sands development. Yet the Government of Canada and provincial governments, along with industry and academia, are making investments in technology to achieve a balance between economic development and environmental protection.

Canada is a world leader in the development and innovation of Carbon Capture and Storage (CCS), which is expected to decrease the GHG emissions from the oil sands sector. The Government of Canada and the Alberta Government have jointly committed over $3.5 billion to support the development and commercial deployment of CCS technology.

Minister Raitt highlighted the fact that the Government of Canada's Economic Action Plan has committed $1 billion for clean energy research and demonstration projects, including $650 million for large-scale CCS projects. The Minister also underscored the contribution of these new investments and developments to the Canada-U.S. Clean Energy Dialogue initiated by Prime Minister Harper and President Obama.

FOR BROADCAST USE:

Natural Resources Minister Lisa Raitt concluded a two-day visit to the U.S. for talks about energy resources in Canada. Minister Raitt delivered a clear message to key business and national opinion leaders in New York City - Canada is the largest overall supplier of crude oil to the U.S., focused on clean energy collaboration - and this secure source is right next door.

NRCan's news releases and backgrounders are available at www.nrcan.gc.ca/media.

Contact Information

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