Canada’s latest export data put a clear spotlight on just how big a role oil still plays in our country’s economy. Exports of all goods in March reached a new monthly record of $63.6-billion, Statistics Canada reported, surpassing the previous high of $58.7-billion, set in February.
The surge is powered by oil. Energy now accounts for more than a quarter of Canada’s exports, a level last hit in 2014, when crude prices were also on a tear. Back then, Stephen Harper was a vocal booster of the oil industry, and not much interested in talking about climate change.
Today, Justin Trudeau is the opposite. Yet for all the Liberal government work to try to cut Canada’s carbon emissions, the economy remains as dependent as ever on pumping oil.
Why? Because the world remains as dependent as ever on consuming oil. And Canada is among the world’s largest producers of oil. Whether you love that, as the Harper government did, or are vaguely embarrassed about it, as the Trudeau government sometimes seems to be, doesn’t change the facts of economics, geology and geography.
For the rest of this editorial: https://www.theglobeandmail.com/opinion/editorials/article-hi-my-name-is-canada-im-an-oil-superpower/?utm_medium=Referrer:+Social+Network+/+Media&utm_campaign=Shared+Web+Article+Links