Issue
Canada has an abundance of natural resources that generate direct wealth for Canadians through production and export. Increasingly, these commodities represent a large contribution to Canada’s economic growth; however, Canada still spends billions energy imports annually. Access to markets for commodities, specifically electricity, oil and gas, represents a significant obstacle in Canada’s ability to secure a competitive position in the global economy. Further, failure to develop these projects leads to negative impacts on Canadian businesses and ultimately their families.
Background
In 2023, Canada imported $57.9 billion worth of energy products,160 while producing nearly twice as much energy as it used
Canadian energy resulted in approximately 697,000 jobs across the country in 2023 and contributed $279 billion to Canadian GDP. This highlights the importance of the energy industry for the wellbeing of Canadians.
Recommendations
That the Government of Canada:
- Prioritize supplying all Canadians with a secure and stable source of Canada’s natural resources.
- Support projects which ensure market access, whether national or international, for Canada’s natural resources. Remove any barriers to the trade of electricity and fossil fuel trade between provinces to improve energy security, increase affordability, and realize the full value of energy resources.
