Canadian Chamber of Commerce President and CEO, the Hon. Perrin Beatty, issued the following statement regarding the urgent need to support Canada’s oil and gas sector:
“The Canadian Chamber of Commerce urges the federal government to launch the long-promised support package for Canada’s oil and gas sector.
Despite the recent international agreement to reduce production, COVID-19 will continue to put extreme pressure on global demand.
Canada must consider the steps it can take to ensure that low prices and insolvency amongst Canadian oil and gas producers does not jeopardize the resiliency of Canada’s energy system.
March saw an unprecedented number of new jobless claims. Over a million Canadians have lost their jobs and must navigate futures that are far less certain than they were just one month ago. Canada’s energy sector has long been a key engine in Canada’s economy, creating value chains that spread from service providers in the prairies to aluminium producers in Sudbury Ontario.
The sector not only supports these extended value chains, but also forms a crucial part of Canada’s critical infrastructure, providing the fuels that keep grocery shelves stocked, and the natural gas used to sanitize hospital equipment. The federal government has a significant opportunity to stop further job losses in the sector and ensure Canada’s energy security both today and in the years ahead.
The new reality that we all face together requires us to reset Canada’s energy policy. Canadians live in an increasingly uncertain world. Navigating the next decade will demand an energy strategy that will see Canada achieve its climate ambitions while harnessing its energy resiliency and security. We can and must achieve both.
The federal government can lighten the dark days ahead by sending a clear signal that Canadian oil and gas will play a vital role in our economic future.”
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About the Canadian Chamber of Commerce – Because Business Matters
The Canadian Chamber of Commerce helps build the businesses that support our families, our communities and our country. We do this by influencing government policy, by providing essential business services and by connecting businesses to information they can use, to opportunities for growth and to a network of local chambers, businesses, decision-makers and peers from across the country, in every sector of the economy and at all levels of government, as well as internationally. We are unapologetic in our support for business and the vital role it plays in building and sustaining our great nation.
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