The Facts

Over the past two years, three insurance companies from Europe—Axa, Zurich, and Swiss Re—announced plans to stop insuring Canadian oil sands projects and reduce or entirely eliminate investments in the oil and gas sector.

 

Oil and natural pipelines are like light switches on the wall. You take them for granted, along with the expectation that once flipped, your lights will come on. Thus, in normal company and in normal times, few people would, over dinner, discuss something as arcane as tubes and wires. The exception might be a convention of electricians and pipeline workers.

Over the past several years, a plethora of naysayers have reflexively opposed the extraction and export of natural gas from Canada. Some academics and others have argued prices of liquified natural gas (LNG) should not warrant investment by Canadian companies.

 

When U.S. president Joe Biden recently revoked the presidential permit for Keystone XL, it was a reminder of how anti-oil and gas activism and politics over the years can kill Canadian (and American) jobs. It was also a reminder of how dependent Canada is on one major customer for oil and natural gas exports.

 

Canadian Energy Centre director of research Mark Milke was on the Danielle Smith show to discuss the findings of a new Fact Sheet examining the value of Canada’s oil and gas imports over a three-decade span.

You may have heard the narrative — it exists worldwide — that oil and natural gas is dead, or soon will be, and that it can easily be replaced with other forms of energy.

Canadian Energy Centre Executive Director of Research Mark Milke joined It’s Your Business host Mario Toneguzzi to discuss the findings of new research on the value of Canada’s oil and gas imports over three decades.