Why the U.S. needs Canadian oil
The United States is the world’s largest oil producer, but it’s still one of the world’s largest oil importers, too.
Imports from other countries met about 45 per cent of U.S. demand for petroleum liquids products this June, according to the U.S. Energy Information Administration.
The good news is that most of that came from Canada, America’s close friend and ally.
Canadian oil is critical for U.S. energy consumers. While U.S. domestic oil production surged over the last decade, so did imports from Canada.
Americans are using more renewable energy, but the EIA still expects continued reliance on imported oil and gas over the coming decades.
Canada’s oil and gas producers are committed to environmental excellence, including reaching net zero greenhouse gas emissions in the oil sands.
Importing “heavy oil” from Canada’s oil sands has reduced costs for American consumers, according to a report published by the American Petroleum Institute.
But the future of our cross-border energy partnership is becoming uncertain.
U.S. oil imports from Russia and Saudi Arabia doubled since December 2020, according to EIA data.
Meanwhile, the US Administration canceled Canada’s Keystone XL oil pipeline.
Importing more oil from OPEC+ means that potentially hostile nations make decisions for Americans about their energy supply.
Look instead to Canada for safe, reliable and responsible energy that is committed to environmental excellence.
This material is distributed by Copithorne & Blakely on behalf of the Canadian Energy Centre pursuant to the Foreign Agents Registration Act (FARA).
