LONDON, UNITED KINGDOM--(Marketwired - May 10, 2013) - The Honourable Joe Oliver, Canada's Minister of Natural Resources, was in London, United Kingdom (U.K.), today to highlight the role energy plays in Canada's economy and its potential contribution to global energy security.
Minister Oliver addressed a business audience at an event hosted by the High Commission of Canada and met with Michael Fallon, U.K. Minister of State for Energy, Business and Enterprise, and Norman Baker, U.K. Parliamentary under Secretary of State for Transport.
"The International Energy Agency (IEA) projects that global energy demand will increase by more than one-third by 2035," said Minister Oliver. "Significantly, the IEA also projects that in 2035 - even under its most optimistic scenario for the development of alternatives - the world will still rely on fossil fuels for 63 percent of its energy needs. Holding the third-largest proven reserves in the world, Canada is a stable, democratic and environmentally responsible supplier of oil to the global market."
The Minister discussed Canada's position on the European Commission's proposed implementation of the Fuel Quality Directive (FQD). In its current proposal, the FQD singles out oil sands without sound scientific justification.
"Canada is transparent in reporting the GHG emissions of oil sands - scientific research and data are regularly updated and made available to the public," said Minister Oliver. "There is virtually no data from many countries that produce crude oils used in the European Union."
Measures which the government is putting in place means that Canada is one of the only major oil producers in the world with a transparent environmental monitoring regime and regulations that demand strong environmental performance.
Canada has a GHG reduction target of 17 percent from 2005 levels by 2020, and it is estimated that Canada is already halfway to meeting this target. Canada's GHG regulations will significantly reduce emissions from cars, light trucks and heavy duty vehicles.
"Canada is a safe and stable source of energy," concluded Minister Oliver. "Our Government has a plan to ensure that its natural resources are developed in a way that creates jobs, economic growth and long-term prosperity while protecting the environment."
The following media backgrounder is available at www.nrcan.gc.ca/media:
- Canada: An Environmentally Responsible Energy Supplier to the World