ARC ENERGY IDEAS Mind the Energy Security Gap: How Dependent is Canada on the US?
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Feb 18, 2025 Explore Canada's energy security weaknesses and its heavy reliance on U.S. crude oil and natural gas. The hosts discuss the economic implications of tariffs and recent Canadian governmental efforts to enhance infrastructure. They emphasize the need for interprovincial trade improvements and capital investment to bolster energy independence. Geopolitical tensions and evolving carbon policies add complexity to the energy landscape, while the urgency of addressing electricity demands to support future ambitions is highlighted.
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Trade and Infrastructure
- Increase trade and build supporting infrastructure like ports.
- Attract private capital for these projects to avoid straining public finances.
Canada's Energy Security
- Central Canada heavily relies on US oil and gas, creating an energy security weakness.
- Ontario is particularly vulnerable as its crude oil supply transits through the US.
The Long Way Around
- During past oil crises, Canada had to ship western oil to the East Coast via the Panama Canal.
- This expensive workaround highlighted Canada's energy insecurity, detailed in Peter Tertzakian's "The Long Way Around".