Jones: Canada should “make it a national priority to ensure we have the capacity to export our energy products beyond the US, and specifically to Asia.” Agree?
Director and Senior Fellow of the NYU Center on International Cooperation
No. The international market for energy is expanding in multiple directions, and it’s a global market. Ultimately, it makes far less difference where Canada sells its energy, than at what price – and that’s driven by global demand, not specific markets. There’s a growing strand of energy nationalism, but it reflects deep misunderstandings of the way global energy markets work. Besides, when President Obama refused to bow to Congressional Republican pressure to fast-track the Keystone pipeline, he very deliberately opened a window to apply for a different route. It’s most certain that Keystone will eventually be approved – which from a Canadian economic perspective is good; from an environmental perspective – well, not so much.
