Natural Resources Canada

Natural Resources Canada

July 19, 2012 17:22 ET

Statement by the Honourable Joe Oliver, P.C., M.P., on the Report of the Standing Senate Committee on Energy, the Environment and Natural Resources

OTTAWA, ONTARIO--(Marketwire - July 19, 2012) - "I want to thank Senator David Angus and the committee for this important report and the diligent work that went into it. I am pleased to see that our Government's initiatives and priorities are identified and endorsed in the report.

"The committee has understood that the moment is here for Canada to fully and responsibly develop its immense natural resources to ensure continued and future prosperity and energy security for all Canadians. That is why our Government has improved the assessment of major resource projects to ensure timely, efficient and thorough review.

"Under our Responsible Resource Development initiative, vital resource projects in the mining and energy sectors can proceed through the review process in a predictable fashion, and this will encourage investment in this crucial part of the Canadian economy. The committee is correct when it notes that Canada has the potential of being the most productive energy nation in the world.

"Over the next 10 years, more than 500 major resource projects, representing an investment of more than $500 billion, are expected to move forward. This will assure Canadians from coast to coast to coast of hundreds of thousands of new jobs, many hundreds of millions in revenues to government for vital social programs, and economic security and prosperity for generations to come.

"The committee has also underlined the need for Canada to diversify its energy markets into emerging economies in Asia and to build the infrastructure to do so. This is a top priority of our Government. Overall, the committee's report is a valuable contribution to the national discussion underway on Canada's emerging role as a global energy superpower.

"Already our Government has made tremendous progress on energy efficiency; advances in the areas of renewable and alternate energy; smart grids for electricity; new approaches for reducing GHG emissions, such as carbon capture and storage; and heightened environmental monitoring and protection in the oil sands and infrastructure, such as pipelines.

"Our Government is committed to continuing collaboration with the provinces and territories as advanced by Energy Ministers last year in Kananaskis on a wide range of shared priorities, including how we best leverage our energy assets for the benefit of all Canadians."

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