Natural Resources Canada

Natural Resources Canada

November 18, 2011 09:00 ET

Minister Oliver Discusses Benefits of Energy Resources to Canada's Economy

TORONTO, ONTARIO--(Marketwire - Nov. 18, 2011) - The Honourable Joe Oliver, Minister of Natural Resources, highlighted the many business opportunities provided by Canada's vast energy sector during a speech to the Ontario Energy Association today.

"Our abundant energy resources can ensure continued prosperity for Ontario and Canada, now and into the future," said Minister Oliver. "Our energy endowment provides Canada with a unique economic advantage — one that we are leveraging to strengthen our status as a global energy superpower."

The Minister underlined the fact that the energy sector has been and will continue to be a major contributor to the economic stability of Ontario and Canada. The Canadian Energy Research Institute projects that the oil sands industry alone will buy an estimated $65 billion worth of goods and services from companies in Ontario over the next 25 years, and that future development of this resource could support an additional 10,000 jobs per year in the province over that same period. Further economic opportunities will also stream from investment in energy efficiency, clean energy, natural gas and nuclear energy.

"We know that fossil fuels will be the dominant source of the world's energy for many years to come, but the transition to a low-carbon future is well underway," said the Minister. "Our government is committed to ensuring Canada is a leader in this transition, because the opportunities are there — developing and commercializing the cleaner technologies; exporting our knowledge around the world — enhancing Canada's reputation both as a first-class place to invest and as a responsible citizen of the world."

For instance, since 2007, through the ecoENERGY for Renewable Power program, the Government of Canada invested in a total of 47 renewable energy projects in Ontario, representing a federal investment of more than $465 million over 14 years.

"By continuing to invest in our vast energy resources, the federal government remains committed to the development of Canada's and Ontario's energy sector to secure our economic future for generations to come," the Minister concluded.


Speaking to the Ontario Energy Association in Toronto today, Natural Resources Minister Joe Oliver highlighted the many business opportunities provided by Canada's energy sector. He noted that the oil sands industry alone is projected to purchase an estimated $65 billion worth of goods and services from companies in Ontario over the next 25 years.

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