Newman: Is American energy independence a threat to the Canadian economy?

By: /
25 January, 2013
By: Don Newman
Chairman of Canada 2020, Senior Columnist with

Not if we have other markets in which to sell our bitumen and gas. If we don’t, it will be.

American Energy independence will not mean independence in every type of energy twelve months a year. In fact, Americans usually count Canadian energy as theirs in any accounting they do.

Still there is no doubt that Americans will be taking less Canadian energy in the years ahead. Because we lack alternate markets, they will continue to buy that energy at discounts from the benchmark Texas crude price. That is why we need alternate markets taking large volumes of Canadian oil, bitumen, and gas to keep our prices high. Prices America will also have to pay to access our energy resources and not damage the Canadian economy.

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