Canada is a nation rich in energy resources. Oil, natural gas, hydro, uranium, coal, wind – Canada has abundant supplies of renewable and non-renewable resources. We are the largest foreign supplier of oil to the United States and the world’s third largest natural gas producer and exporter.
But the game is changing: shrinking US demand for imports, inability to service Asian markets, distribution bottlenecks, inefﬁcient regulatory processes, and labour shortages will impair the ability of Canadian energy producers to compete in global energy markets.
Does Canada need a comprehensive national energy strategy to tackle these challenges? The notion of a Canadian Energy Strategy (CES) has preoccupied public debate for much of 2012. In a recent report published by the Macdonald-Laurier Institute, we argue that the answer is no. Existing mechanisms and institutions have the capacity and authority to deal with the challenges facing Canada in all areas but one. It is clear that provincial disputes over allocation of resource revenues are going to continue to ﬂare up as the sector grows, and as infrastructure and risk cross provincial boundaries. This in turn may require new mechanisms of cooperation between provinces.
You can read our full report here.