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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?

By: /
6 February, 2012
By: Bruce Jones
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.

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