Trudeau's Rival Pledges Energy Independence by 2030



Trudeau's Rival Pledges Energy Independence by 2030
Canada's opposition Conservatives will seek to make the country oil independent within 10 years if they win power.

(Bloomberg) -- Canada’s opposition Conservatives, leading in the polls ahead of October elections, will seek to make the country oil independent within 10 years if they win power, the party’s leader said Thursday.

Andrew Scheer, the front-runner to unseat Prime Minister Justin Trudeau, said he’ll work toward that goal by creating a single corridor of energy infrastructure across the country that would simplify the construction of new pipelines.

Canada has enough oil “to put an end to all foreign oil imports once and for all,” Scheer said in a keynote address in Toronto, part of a string of planned speeches in coming weeks to roll out policy positions ahead of the vote. “An energy independent Canada would be a Canada firing on all cylinders.”

Energy is poised to become one of the most divisive issues in the federal election, and Scheer is trying to cast himself as a champion of an oil sector that is battling with lower prices for crude and capacity constraints.

Without providing details, Scheer pledged to repeal pipeline and oil shipping laws working their way through Canada’s Senate, and cancel federal levies on carbon introduced earlier this year by Trudeau. He also promised to establish clear timelines for regulatory approvals and “assert federal jurisdiction when necessary,” ostensibly a nod to more forcibly pushing pipeline projects through construction.

While Canada runs large surpluses in energy trade as a major producer of oil, it still imports some crude and refined petroleum. Last year, Canada exported C$76 billion ($57 billion) worth of crude while importing C$18 billion, Statistics Canada data show.

In his speech, Scheer also pledged to balance the budget largely by taking a “measured approach to spending growth,” eliminate the Canada Infrastructure Bank set up by Trudeau, and put an end to corporate handouts. He also pledged to “rework” mortgage qualification rules that have been tightened in recent years.

To contact the reporter on this story: Theophilos Argitis in Ottawa at targitis@bloomberg.net To contact the editors responsible for this story: Theophilos Argitis at targitis@bloomberg.net Chris Fournier



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Rudolf Huber  |  May 17, 2019
There is a growing sense that the current Climate and energy madness will not only cost us very dearly, but it might also even ruin us. people usually don't care for the costs of the system that they perceive as inalterable. Until the systemic cost gets so high that their very basis for a living is in danger. And when the prospect of blackouts and vehicles that only the very rich can afford tops it off, then people throw a switch. It has happened in the US, it has happened in Brazil, it's growing in multiple European countries and Canada is not immune. It's not aliens living there but regular living beings just like in any other country and as human beings, they are susceptible to pain. Canada might be Trumps new best friend.