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Minister Oliver Discusses Canada-U.S. Energy Relations at Canada Energy Summit

CALGARY, ALBERTA--(Marketwire - Nov 30, 2012) - The Honourable Joe Oliver, Canada''s Minister of Natural Resources, today participated in the Canada Energy Summit 2012, hosted by the Economic Club of Canada. The Minister discussed the importance of the Canada-United States energy relationship in a session hosted by Claudia Cattaneo of the National Post.

The energy relationship between Canada and the United States is vital to our respective economies. The network of pipelines and transmission lines that cross the border support not only our energy needs, but also our long-term prosperity by using growing energy revenues to fund critical social programs, such as health care and education.

"Canada and the United States benefit from an extensive, mutually advantageous energy relationship," said Minister Oliver. "As a reliable and responsible energy producer, meeting America''s energy demands will always represent an important part of our approach to creating new jobs and supporting economic growth in Canada - as well as in the United States."

The Minister also discussed the International Energy Agency''s recently released World Energy Outlook 2012 report that found the United States will be "almost self-sufficient in energy, in net terms, by 2035." The Minister noted that Canadian energy exports to the United States will continue as new projects are pursued - 98 percent of our oil exports and 100 percent of Canada''s natural gas exports are currently going to the United States, but Canada must also begin to take steps to diversify its energy exports to protect its economy well into the future.

"Canada''s long-term prosperity requires us to invest in and further develop our valued energy relationship with the United States," added Minister Oliver. "At the same time, however, we must also work just as hard to open new markets to Canadian natural resources."

The United States Ambassador to Canada, David Jacobson, and several Canadian provincial energy ministers, also participated in the conference.

NRCan''s news releases and backgrounders are available at www.nrcan.gc.ca/media.