Canada’s Rise as an Energy Superpower

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Canada is rapidly becoming recognized as one of the world’s energy superpowers. Our nation is now the leading foreign supplier of oil to the U.S., delivering nearly twice as much each year as Saudi Arabia. In addition, ninety per cent of natural gas imports to the U.S. originate from Canada. Oil sands production is at an all-time high and production from new sources of tight oil continue to increase exponentially. The increasingly prominent role that Canada plays on the world energy stage can be credited, at least in part, to the regulatory process that has evolved in Canada, which provides a relatively streamlined and predictable process for project approval, allowing for a high degree of flexibility and responsiveness to market forces.

Unlike the United States and Western Europe, large-scale Canadian energy development and transportation projects are able to move ahead expeditiously while addressing environmental, First Nations and community stakeholder concerns in a meaningful way through robust consultation processes.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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