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Canadian oil will find new paths to American markets

 

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Canada continues to pursue all forms of energy transportation to markets in all directions. This increased market access will create jobs, economic benefits and government revenues by taking advantage of growth opportunities in Eastern Canada, the US Gulf Coast, Washington state, California and emerging global markets.

dzԹWhile President Obama stated that the Keystone XL decision is not in the US national interest, CanadadzԹs oil and natural gas industry is clearly in the Canadian national interest,dzԹ CAPP President and Chief Executive Officer Tim McMillan said.

dzԹThe Keystone XL pipeline deserved to be approved on the facts of its environmental, economic and energy security merits,dzԹ McMillan said. dzԹComprehensive US reviews found Keystone XL will cause no substantive change in global GHG emissions or other undue environmental impacts.dzԹ

Canada is a stable, democratic country that develops its abundant natural resources responsibly with a strong focus on safety and the environment.

Alberta set greenhouse gas emission regulations in 2007 and recently increased its carbon price. Among the top suppliers of oil imports to the United States (Canada, Mexico, Nigeria, Saudi Arabia and Iraq, Venezuela), only Canada has GHG rules in place.

dzԹCanada has demonstrated leadership in GHG policy and technologies relating to the oil and natural gas industry.dzԹ

President Obama failed to recognise AlbertadzԹs leadership on climate policy. dzԹAlbertadzԹs oil and natural gas producers have paid a levy on carbon for longer than Keystone XL has been under regulatory review,dzԹ McMillan said.

In the oilsands, companies have found ways to reduce per barrel GHG emissions by 30% since 1990 and continue to seek more reductions through technology development. Companies are investing more than CAN$1 billion collectively into developing new technologies to improve environmental performance through CanadadzԹs Oilsands Innovation Alliance.

dzԹCanada has what the world needs dzԹ a reliable supply of energy that is produced safely and responsibly,dzԹ McMillan said. dzԹCanadians will find a way to meet the demands of these global markets.dzԹ

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