New Parkland Inst Report Calls For Canada To Set Up Strategic Petroleum Reserves

“We are virtually the only country in the industrial world without strategic petroleum reserves,” says Gordon Laxer, a political economist at the U of A and author of the report. “The combination of our energy commitments under NAFTA and the north-south flow of our pipelines virtually guarantees that Eastern Canada will face shortages during global supply shocks—this puts Canadians at risk.” Canada imports 40% of the oil it uses, with almost half of that coming from OPEC countries. This makes Canada very susceptible on a volatile region for a significant portion of its oil supply. And there are simply no pipelines or infrastructure in place to get Alberta oil to Eastern Canada in case of a crisis. “The sad reality is that our government continues to prioritize the energy security of the United States despite the needs of Canadians,” says Polaris Institute Director Tony Clarke. http://www.ualberta.ca/PARKLAND/mediareleases/PRJan31_2008SPR.htm full report here: http://www.ualberta.ca/PARKLAND/research/studies/SPR%20Report.pdf

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