Energy Policy Institute of Canada: Connecting Canadian Energy to the World

CALGARY, ALBERTA--(Marketwired - April 18, 2013) - Earlier today Canadian Senator Doug Black delivered his first statement to the Senate Chamber on the pressing need for informed thinking on Canada's energy challenges. Specifically, he called attention to one of the most critical issues currently facing the future of Canada's energy sector: the lack of sufficient access for Canadian oil and gas to world markets. A problem, Senator Black points out, that will continue to have major implications for every province if our traditional trade partners no longer want Canada's energy products and there is inadequate infrastructure in place to deliver our energy products.

Dan Gagnier, the newly appointed President of The Energy Policy Institute of Canada (EPIC), commends Senator Black for championing this cause in his first Senate address, which covered many of the energy issues that are critically important to the future of Canada. "We are encouraged by Senator Black's comments and his commitment to advancing discussion around Canada's energy future at a time when constructive dialogue and decisive actions are so urgently needed," said Gagnier.

In his address, Senator Black discussed:

• The undeniable importance of the energy sector in Canada
• Job creation, research and development opportunities and revenue to governments as a result of energy development
• $112 billion from energy exports in 2011
• Forecast for the US to become the world's largest oil producer by 2017, and a net oil exporter by 2025
• $75 million per day in total that Canada is losing due to the lack of export infrastructure
• Estimated loss of $4 billion in federal tax revenue from discounted oil and gas prices
• Projected $50 billion that Canada will lose over the next three years
• The prospect of less government funds for schools, hospitals, roads, bridges, and the arts across the country

These points illustrate that Canada must take immediate action if we are to determine our own fate and control how our energy resources are to be utilized at home or traded to global markets. Diversifying trade partnerships is a crucial step towards long-term prosperity by ensuring Canada receives the highest possible price for our energy resources on the global market. Market diversification was one of the foundations of EPIC's recommendations put forward in A Canadian Energy Strategy Framework report, released in August of 2012.

"The role of Canadian energy in the future of our country and the world is far too important to let this conversation fall by the way-side as another victim of political sensitivities. We cannot just watch as this tremendous opportunity passes us by, it is imperative that we chart our own course towards responsible development and trade so that Canadians can enjoy the full benefits of our realized potential," added Gagnier.

The Energy Policy Institute of Canada (EPIC) is a non-profit organization formed by business organizations that are concerned about Canada's energy future. Our sole purpose is to develop a comprehensive, pan-Canadian approach to energy which will provide the foundation for recommendations to federal, provincial and territorial government authorities responsible for energy and environment policy. We believe better analysis, based on better information, will lead to better policy. Senator Black has been a long-time proponent for responsible energy development and an advocate for diversifying Canada's energy markets. He was founding president of the Energy Policy Institute of Canada, a not-for-profit, non-partisan organization dedicated to the development of a Canadian energy framework. Senator Black currently serves as the organization's volunteer chair.