MISSISSAUGA, CANADA--(Marketwired - April 25, 2014) - Natural Resources Canada
The Honourable Greg Rickford, Canada's Minister of Natural Resources and Minister for the Federal Economic Development Initiative for Northern Ontario, today delivered welcome remarks during the Canadian Energy Pipeline Association Spring Meeting, where he emphasized the importance of safe pipeline infrastructure and diversifying Canada's energy markets. Minister Rickford stressed that Canada has a once-in-a-generation opportunity to become a 21st century energy superpower, creating jobs, growth, and long-term prosperity for all Canadians.
Minister Rickford outlined the Government's plan for Responsible Resource Development, ensuring world-class protection for Canadians and the environment while enhancing engagement with Aboriginal Peoples. Minister Rickford also highlighted the success of Canada's Economic Action Plan, which has helped to create more than 1.1 million net new jobs since the height of the global recession.
- Canada has 173 billion barrels of proven crude oil reserves, the third-largest reserve in the world.
- According to the International Energy Agency, oil will remain the dominant fuel globally for decades to come, even under its most stringent greenhouse gas (GHG) reduction forecast.
- In 2011, the Canadian Energy Research Institute concluded that over the next 25 years, the total value of the goods, services, and jobs generated by the oil sands could reach $2 trillion, or $85 billion a year.
- Canada has already announced meaningful action to enhance pipeline safety even further, including new fines that help preventatively address incidents, imposing a mandatory minimum financial capability of $1 billion for major pipeline operators and more.
- Under Responsible Resource Development, pipeline safety has been further enhanced by providing $13.5 million to the National Energy Board to increase the number of annual oil and gas pipeline inspections by 50 percent to identify issues before incidents occur.
- Budget 2013 provided an additional over $600 million in support of Aboriginal education, skills development and community infrastructure.
"Canada must develop new markets for its energy resources to create jobs, growth, and long-term prosperity for decades to come. Our Government is enhancing our world-class pipeline and marine safety regimes and increasing engagement with Aboriginal Peoples to ensure the safety of the environment and the safety of Canadians as we develop our unprecedented resource wealth."
Greg Rickford, Canada's Minister of Natural Resources and Minister for the Federal Economic Development Initiative for Northern Ontario
Oil Sands Fact Sheet http://www.nrcan.gc.ca/sites/www.nrcan.gc.ca/files/energy/pdf/eneene/pubpub/pdf/OS-brochure-eng.pdf
Pipeline Safety Fact Sheet http://www.nrcan.gc.ca/sites/www.nrcan.gc.ca/files/energy/files/OS-Pipeline_Safety_e.pdf
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