Rest of Canada thinks it can live without Alberta oil — Jason Kenney needs to prove them wrong PTertzakian
Jason Kenney has taken over the keys to Alberta’s hydrocarbon pump house. Within those borders, the province’s new premier leads the interests of the world’s sixth largest producer of oil and natural gas combined. That’s big.
Policy matters, as they say in politics. Policy plus scale puts Kenney’s threat of turning down the oil valve to British Columbia — an inconsequential consumer on a world scale — in perspective. A quarter twist in Edmonton is all that’s needed to influence coastal petroleum prices big time. Despite Alberta’s significance, Canada is polarized in its attitudes towards hydrocarbons; that’s an understatement and an entirely contentious subject on its own.
Statistics Canada recently reported the value of all exports for 2018, by economic sector. Last year, Canadian exports of petroleum products topped $125 billion. That’s 65 per cent more than autos and nearly triple that of base metals, which is the closest resource-based comparable. From an energy lens, oil and gas exports dwarf electricity sales to the U.S., a mere $3 billion last year.
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