Gary Lunn Plays Down Strategic Petroleum Reserve Idea

Canada imports 40% of the oil it uses, with almost half of that coming from OPEC countries. And there is a lack of infrastructure to move Alberta oil to Eastern Canada in response to a crisis. "The International Energy Agency (IEA), of which Canada is a founding member, requires member countries that are net importers to maintain emergency oil reserves of 90 days of net imports," Laxer said. "Unfortunately, unlike in most industrial countries, Canadian governments in recent years have not prioritized domestic energy security. Canada exports 67% of the oil it produces to the United States, and NAFTA...prohibits Canada's government from reducing this proportion, even in times of crisis. And there is not enough east-west oil pipeline capacity to transport western oil to Eastern Canadians in times of supply shock." ... http://www.platts.com/Oil/News/6746545.xml

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