premier redford speech to foreign policy association in new york city

7/28/2019 Premier Redford speech to Foreign Policy Association in New York City

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MEDIA VERSIONCHECK AGAINST DELIVERY

SPEAKING NOTESHONOURABLE ALISON REDFORD

PREMIER OF ALBERTA

FOREIGN POLICY ASSOCIATION

NORTH AMERICAN ENERGY INDEPENDENCECONFERENCE

WEDNESDAY, JUNE 19, 2013

ST. REGIS HOTEL2 E 55TH

STREET AT 5TH

AVENEW YORK CITY

Check against delivery


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INTRODUCTION

Thank you very much Ken (Hughes) and good afternoon everyone. Thank you all

for coming.

Its a pleasure to be here to take part in the discussion on our shared energy

future.

And Im tremendously pleased that weve been able to work with the Foreign

Policy Association in making the conference happen.

I appreciate the Associations willingness to serve as host and bring us together,

because this conversation on North American energy independence is one we

need to have for reasons that have changed very dramatically very recently.

Energy independence has been a popular topic in Canada and the US for many

years. But for most of that time, the need to meet domestic demand reduced it to

wishful thinking.

North Americans looked out at a world developing rapidly and becoming

increasingly thirsty for energy.

And we wondered how we could guarantee our own security of supply, withoutprovoking instability or conflicts with rising powers.

We looked out at a world in which a significant proportion of energy production

occurred in countries run by governments that dont live up to our values.

And we regretted that so much of our money was going to enrich them.

Energy self-sufficiency was just a talking point, something we could only aspire to

until now.


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ENERGY INDEPENDENCE

Today, North American energy independence is close and getting closer thanks

to the discovery of new reserves, better technology, and a focus on innovation

that supports both trends.

Our way forward has never been clearer, the opportunities greater, or the odds

more in our favor.

We have to get this message out, so that people on both sides of the border

understand how much they stand to gain from resource development because

success depends on their understanding.

Governments and industry need to maintain the social license to expandproduction.

And we must ensure that people recognize that were proceeding down the path

to energy independence in a safe, sustainable way that benefits them.

Our responsibility must match our productive capacities, vast though they are.

And I have the utmost confidence that governments and industry can meet these

expectations.

Five years ago, this kind of optimism was missing from the discussion on North

American energy independence. We heard a lot of doom and gloom, amid

predictions of peak oil.

Fortunately, North American oil production is proving those predictions wrong.

The US is experiencing a renaissance in energy development as new sources of

tight oil are tapped.

And I know from my trips down here, and from many meetings with governors,

how hard states are working to provide the right climate to keep investment and

crude flowing.


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American production is at its highest level since 1996. And its projected to keep

growing rapidly through 2016.

By the end of the decade, the US will become the worlds largest oil producer,

churning out more than 11 million barrels per day. Thats a figure to be proud of!

In Alberta, were also seeing increased production.

Alberta is home to the worlds third-largest proven oil reserves with 170 billion

barrels most of it in the oil sands.

At present, were producing 2.5 million barrels per day; by 2022, that will rise to

4.2 million.

Canada is the single largest source for US oil imports, so as overall imports

diminish, youll be able to buy a larger portion of them from us.

Your money will go to a country with the same democratic values, and a lot of it

will return here, since the US receives 89 cents back for every dollar spent on

Canadian goods and services.

This is at a time when Europe is buying expensive Russian energy with contracts

tied to oil pricing, while China is building coal plants at an unprecedented rate,because it has few economic alternatives.

North America has a major advantage. And that advantage will only grow as

production expands and more jobs in sectors like manufacturing and

petrochemicals return in response.

REASONS TO COOPERATE

Theres no doubt that energy independence will bring us choice, certainty andsecurity in a world thats short of all three. And they make it worth pursuing.

However, there are even more compelling reasons, and the most important one

stems from the fact that Canada and the US share more than values. We share

growth and demographic destinies.


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And while Canadians and Americans may not know it yet, theyre counting on the

first to overcome the second.

The search for prosperity is urgent, because were both facing population shifts

unlike any weve encountered before.

North Americans are getting older in greater numbers, and living longer, putting

unprecedented strains on critical services and public spending.

It means more beds in hospitals and continuing care centres, more money for

advanced treatments that keep people with chronic diseases healthy . . .

. . . along with more for pensions and benefits, and help for seniors on fixed

incomes and those whove exhausted their savings.

Governments have promises to keep. The only way to pay for them is by

encouraging growth and investment.

Whenever the prospect of fresh development in the oilpatch comes up, its met

with complaints that business benefits at the expense of people.

We know thats false. We know that the outcomes of growth and investment are

jobs, taxes and opportunity, and that they fund the services people use every day.

Public acceptance is essential for expanded energy production; the easiest way to

obtain it is to ensure people understand whats at stake.

BEING GREEN

When it comes to winning approval for expanded production, how we attain

energy independence is just as important as why.

The science of climate change is settled and our obligation to protect the

environment and minimize energy productions footprint is undeniable.


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Industry and government must live by those truths. Our commitment to

responsible development has to be visible in everything we do.

Alberta, the home of the oil sands, has known this for a long time.

It was the first jurisdiction in North America to require large industry to curb

greenhouse gas emissions.

And since 1990, the provincial energy industry has reduced greenhouse gas

emissions per barrel of oil by an average of 26 percent. Some facilities have

achieved reductions as high as 50 percent.

Producers are even working together to accelerate reductions as part of a unique

private-sector initiative.

Through Canadas Oil Sands Innovation Alliance, theyre sharing intellectual

property worth hundreds of millions of dollars to improve each others

performance. Thats not somethingyoull see in many other industries!

In Alberta, were not just limiting pollution weve put a price on it. Weve put a

price on carbon and again, we were the first in North America to do that . . .

. . . helping us raise over $300 million to support clean energy technology projectsto reduce emissions further.

And even as oil sands production rises in the next 10 years, weve still found room

to set aside approximately 5 million acres in the region for conservation.

Were also bringing in a new monitoring system jointly run with Canadas federal

government, to uphold our commitment to being green.

This is a system that boosts our ability to detect changes in the environment . . .

. . . one which is subject to external review by independent scientists, and which

makes all data publicly available, so anyone can assess the oil sands performance

for themselves.


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There is really no room to compromise.

Governments and industry must be honest about the impact of production,

manage it and follow through on pledges to improve when we fall short.

BEYOND INDEPENDENCE

Theres one last thing to understand about energy independence: Cooperating

purely to satisfy domestic demand isnt enough.

Our ultimate goal should be developing our hydrocarbons to their fullest

potential, to turn North America into an export-oriented, global energy

superpower.

The world is really starting to notice the surge in US and Canadian productive

capacity.

Theyre eyeing it because they need it. Demand for energy will keep rising for the

foreseeable future as developing nations strive for higher standards of living . . .

. . . which translates into heightened concern for the environment, and an

emphasis on buying verifiable, responsibly produced energy.

Its a need Canada and the US can fill. In doing so, we can magnify the positive

outcomes for ourselves more revenues for essential services, more investment

in technology, and more jobs and growth.

Albertas oil sands are a central part of this picture.

40 percent ofthe worlds total refining capacity for heavy oil is located on the US

Gulf Coast. And were determined to reach it through the Keystone XL pipeline.

Were looking at other options too, possibilities that would see our oil move

north, east and west across Canada by rail and new pipelines.


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Continued oil sands development is expected to lead to an average of 138,000

spinoff jobs annually in the US over the next 25 years, and increase American GDP

by $521 billion.

In New York State that amounts to as much as $863 million extra for the economyper year, and as many as 8,000 jobs created or preserved on an annual basis.

And it means more opportunities for New York City, the worlds finance capital, as

companies look for investment to get the necessary infrastructure built.

New pipelines and enhanced transport links are critical, if were serious about

moving large enough volumes of oil to achieve true independence and

responsible prosperity together.

CONCLUSION

To echo remarks by President Obama, North Americans shouldnt have to choose

between jobs, growth and security on the one hand, and strong environmental

protection on the other.

Its up to all of us to nurture a deeply rooted partnership, and demonstrate that

our vision is broad enough to embrace the environment and the economy.

This is what the Canada-US energy trade is about. This is what our friendship and

our whole relationship is about.

We are striving to overcome the challenges of sustainable growth and

development.

And our best qualities, from New Yorks status as the worlds finance capital, to

Albertas expertise in environmental and energy regulation, will help us do it.

The best in all of us will make our path to energy independence our path to

economic recovery.

Its a matter of putting the facts into the debate, so everyone understands what

were fighting for.


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I look forward to expanding on this in the Q & A.

Thank you.

END

premier redford speech to foreign policy association in new york city

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