Energy alone supplied 27 per cent of Canada’s merchandise exports—and 23 per cent of total exports—last year.
energy exports
Within the energy basket, oil is by far the largest earner.
Biden’s climate plan aims to wean the U.S. off of fossil fuels.
Alberta has run nearly uninterrupted deficits since 2008/09.
The oil price and volume of production drive the Alberta and Saskatchewan crude oil royalty formulas.
British Columbia’s natural gas resources are substantial and the international market for liquefied natural gas is growing.
The expansion of the Trans Mountain pipeline will add an additional 590 thousand barrels per day of capacity.
The president-elect's position on the Keystone XL pipeline may be problematic.
Canadian natural gas, sold to markets in India and Asia, could displace some of their need to generate power with coal.
Trying to stimulate other sectors of the economy so their increased output will balance off the loss in energy will simply build in future problems of maladjustment in these industries.