Monday, March 20, 2023
No Result
View All Result
  • Media
Support Us
Macdonald-Laurier Institute
  • Home
  • About
    • Who We Are
    • Who Makes MLI Work
    • Tenth Anniversary
    • Jobs
    • Women’s History Month Fundraiser
  • Experts
    • Experts Directory
    • In Memoriam
  • Issues
    • Domestic Policy Program
      • Agriculture and Agri-Food
      • Canada’s Political Tradition
      • Economic policy
      • Health Care
      • Innovation
      • Justice
      • Social issues
      • Telecoms
    • Energy Policy Program
      • Energy
      • Environment
    • Foreign Policy Program
      • Foreign Affairs
      • National Defence
      • National Security
    • Indigenous Affairs Program
  • Projects
    • COVID and after: A mandate for recovery
    • COVID Misery Index
      • Beyond Lockdown
    • Provincial COVID Misery Index
    • Centre for Advancing Canada’s Interests Abroad
      • Dragon at the Door
      • The Eavesdropping Dragon: Huawei
    • An Intellectual Property Strategy for Canada
    • Competition Policy in Canada
    • Speak for Ourselves
    • Canada and the Indo-Pacific Initiative
    • DisInfoWatch.org
    • The Transatlantic Program
    • Indigenous Prosperity at a Crossroads
      • Aboriginal Canada and Natural Resources
    • Talkin’ in the Free World with Mariam Memarsadeghi
    • Past Projects
      • Justice Report Card
      • Munk Senior Fellows
      • A Mandate for Canada
      • Confederation Series
      • Fiscal Reform
      • The Canadian Century project
      • Fixing Canadian health care
      • Internal trade
      • From a mandate for change
      • Size of government in Canada
  • Events
    • Upcoming Events
    • Past Events
      • MLI Dinners
      • Great Canadian Debates
  • Latest News
  • Libraries
    • Annual Reports
    • Inside Policy Magazine
      • Inside Policy Back Issues
      • Inside Policy Blog
    • Papers
    • Columns
    • Books
    • Commentary
    • Straight Talk
    • Video
    • Multimedia
    • Podcasts
    • Leading Economic Indicator
    • Labour Market Report
    • MLI in the Media
  • Home
  • About
    • Who We Are
    • Who Makes MLI Work
    • Tenth Anniversary
    • Jobs
    • Women’s History Month Fundraiser
  • Experts
    • Experts Directory
    • In Memoriam
  • Issues
    • Domestic Policy Program
      • Agriculture and Agri-Food
      • Canada’s Political Tradition
      • Economic policy
      • Health Care
      • Innovation
      • Justice
      • Social issues
      • Telecoms
    • Energy Policy Program
      • Energy
      • Environment
    • Foreign Policy Program
      • Foreign Affairs
      • National Defence
      • National Security
    • Indigenous Affairs Program
  • Projects
    • COVID and after: A mandate for recovery
    • COVID Misery Index
      • Beyond Lockdown
    • Provincial COVID Misery Index
    • Centre for Advancing Canada’s Interests Abroad
      • Dragon at the Door
      • The Eavesdropping Dragon: Huawei
    • An Intellectual Property Strategy for Canada
    • Competition Policy in Canada
    • Speak for Ourselves
    • Canada and the Indo-Pacific Initiative
    • DisInfoWatch.org
    • The Transatlantic Program
    • Indigenous Prosperity at a Crossroads
      • Aboriginal Canada and Natural Resources
    • Talkin’ in the Free World with Mariam Memarsadeghi
    • Past Projects
      • Justice Report Card
      • Munk Senior Fellows
      • A Mandate for Canada
      • Confederation Series
      • Fiscal Reform
      • The Canadian Century project
      • Fixing Canadian health care
      • Internal trade
      • From a mandate for change
      • Size of government in Canada
  • Events
    • Upcoming Events
    • Past Events
      • MLI Dinners
      • Great Canadian Debates
  • Latest News
  • Libraries
    • Annual Reports
    • Inside Policy Magazine
      • Inside Policy Back Issues
      • Inside Policy Blog
    • Papers
    • Columns
    • Books
    • Commentary
    • Straight Talk
    • Video
    • Multimedia
    • Podcasts
    • Leading Economic Indicator
    • Labour Market Report
    • MLI in the Media
No Result
View All Result
Macdonald-Laurier Institute

Building optimism in Canada’s energy sector: Ken Coates and Sean Speer in the Globe

February 18, 2016
in Columns, In the Media, Latest News
Reading Time: 4 mins read
A A

Sean SpeerKen Coates and Sean Speer look beyond the short-term doom and gloom to find reasons to be hopeful in the long-term about Canada’s energy sector.

This op-ed is based on their recent MLI commentary.

By Ken Coates and Sean Speer, Feb. 18, 2016

There is plenty of doom and gloom about Canada’s energy sector these days. Global prices have fallen and led to a sharp cut in investment and jobs in energy-producing provinces. The former Alberta premier has lamented that dithering governments, pesky environmentalists and obstinate First Nations have conspired to landlock our energy resources. And, of course, the Prime Minister has talked about shifting Canada’s economy from “resources” to “resourcefulness.” The mood is about as dark as a barrel of Alberta crude.

Yet there’s reason to be more positive. The current drop in global prices will eventually reverse itself and the long-term picture of worldwide demand for Canadian energy resources is projected to be significant. Progress on building support for resource development among aboriginal communities continues and new ideas – such as the potential for First Nations equity – present an opportunity for the first real prosperity-sharing in Canadian history. And, investments in new technologies and processes are leveraging Canadian resourcefulness in maximizing the economic and environmental benefits of our resources. The future ahead is bright if we make the right choices. As the Minister of Natural Resources has said: “That future is our responsibility.”

The mood is about as dark as a barrel of Alberta crude.

The energy sector has taken a big hit in the past several months as global commodity prices seem to fall lower and lower. Many workers and their families affected by the downturn are facing real hardship. Government programs such as employment insurance should be available to the workers experiencing short-term unemployment.

Ken CoatsBut it would be a mistake to flinch from resource development as a major source of investment and jobs in Canada. Consider, for instance, that natural-resource industries represented nearly 20 per cent of overall economic activity in 2010. This translates into 14 per cent of national employment and nearly two-thirds of overall investment and exports.

And these are more than mere economic statistics. Resource development represents opportunity for Canadians and their families in every province and every region. This is particularly true for aboriginal communities.

Resource development is already a major source of direct and indirect employment for aboriginal communities but that only scratches the surface of its potential benefits. It can be the centrepiece of aboriginal economic development and long-term self-sufficiency. Consider there are now more than 300 impact and benefit agreements between aboriginal communities and mining companies alone that provide jobs, training and social investments.

There is enormous upside to this economic partnership. Data from the federal government show that there are hundreds of major resource projects under construction or planned in Canada over the next 10 years. Virtually every one of these projects touches at least one aboriginal community. And new models of consultation and collaboration have the potential to get these projects moving and unlock substantial economic benefits for aboriginal communities.

Resource development is already a major source of direct and indirect employment for aboriginal communities but that only scratches the surface of its potential benefits.

As an example: A proposal to extend equity stakes in resource projects to affected communities is building growing support among aboriginal, business and political leaders. The concept requires further work, but it shows the type of goodwill and novel thinking that’s occurring.

As for cutting-edge innovation, Canada’s resource sector is proving to be a world leader. Resource development is a technologically and environmentally sophisticated process. Consider that between 1990 and 2011 greenhouse-gas emissions per barrel from the oil sands were reduced by more than one-quarter and are expected to decline over the coming years. This is a direct result of the ingenuity and brilliant engineering present in the sector. Advanced science and technological innovation is how we’ll stay ahead of the competition and control our carbon footprint into the future.

Canada’s energy sector is going through a rough patch. Some are dubious about its prospects. Not us. The Minister of Natural Resources has said that “developing our resources is truly a nation-building exercise at a critical moment in Canada’s history.” We share the minister’s optimism.

It means making the right policy choices with regards to taxes, regulations and environmental processes but we can and must do this. It’s in the national interest. Now and in the future.

Ken Coates and Sean Speer are senior fellows at the Macdonald-Laurier Institute and co-authors of the recent essay, ‘From a Mandate for Change to a Plan to Govern: Defending the National Interest in Energy Resource Development’

Tags: energy sectorFrom A Mandate For Change To A Plan To GovernGlobe and MailKen CoatesSean Speer
Previous Post

Defending freedoms by countering terrorism: MLI paper by Christian Leuprecht and Sean Speer

Next Post

Infographics: MLI claims top marks in international think tank rankings

Related Posts

Oaths, trust and Canadian democracy: Stephen Van Dine and Karl Salgo for Inside Policy
Inside Policy

Oaths, trust and Canadian democracy: Stephen Van Dine and Karl Salgo for Inside Policy

March 17, 2023
Preparing for the Foreign Threats to Canadian Democracy: Straight Talk with Richard Fadden
Inside Policy

Canada and Japan’s common miscalculation in cyberspace: Koichiro Komiyama for Inside Policy

March 15, 2023
Defending against foreign interference in our elections: Marcus Kolga for Inside Policy
Columns

As Ottawa balks at an election interference inquiry, public trust in our democracy is draining away: Marcus Kolga in the Globe and Mail

March 15, 2023
Next Post
Infographics: MLI claims top marks in international think tank rankings

Infographics: MLI claims top marks in international think tank rankings

Macdonald-Laurier Institute

323 Chapel Street, Suite #300
Ottawa, Ontario
K1N 7Z2 Canada

613.482.8327

info@macdonaldlaurier.ca
MLI directory

Follow us on

Newsletter Signup

Support Us

Support the Macdonald-Laurier Institute to help ensure that Canada is one of the best governed countries in the world. Click below to learn more or become a sponsor.

Support Us

Inside Policy Magazine

  • Current Issue
  • Back Issues
  • Advertising
  • Inside Policy Blog
  • Privacy Policy

© 2021 Macdonald-Laurier Institute. All Rights reserved.

No Result
View All Result
  • Home
  • About
    • Who We Are
    • Who Makes MLI Work
    • Tenth Anniversary
    • Jobs
    • Women’s History Month Fundraiser
  • Experts
    • Experts Directory
    • In Memoriam
  • Issues
    • Domestic Policy Program
      • Agriculture and Agri-Food
      • Canada’s Political Tradition
      • Economic policy
      • Health Care
      • Innovation
      • Justice
      • Social issues
      • Telecoms
    • Energy Policy Program
      • Energy
      • Environment
    • Foreign Policy Program
      • Foreign Affairs
      • National Defence
      • National Security
    • Indigenous Affairs Program
  • Projects
    • COVID and after: A mandate for recovery
    • COVID Misery Index
      • Beyond Lockdown
    • Provincial COVID Misery Index
    • Centre for Advancing Canada’s Interests Abroad
      • Dragon at the Door
      • The Eavesdropping Dragon: Huawei
    • An Intellectual Property Strategy for Canada
    • Competition Policy in Canada
    • Speak for Ourselves
    • Canada and the Indo-Pacific Initiative
    • DisInfoWatch.org
    • The Transatlantic Program
    • Indigenous Prosperity at a Crossroads
      • Aboriginal Canada and Natural Resources
    • Talkin’ in the Free World with Mariam Memarsadeghi
    • Past Projects
      • Justice Report Card
      • Munk Senior Fellows
      • A Mandate for Canada
      • Confederation Series
      • Fiscal Reform
      • The Canadian Century project
      • Fixing Canadian health care
      • Internal trade
      • From a mandate for change
      • Size of government in Canada
  • Events
    • Upcoming Events
    • Past Events
      • MLI Dinners
      • Great Canadian Debates
  • Latest News
  • Libraries
    • Annual Reports
    • Inside Policy Magazine
      • Inside Policy Back Issues
      • Inside Policy Blog
    • Papers
    • Columns
    • Books
    • Commentary
    • Straight Talk
    • Video
    • Multimedia
    • Podcasts
    • Leading Economic Indicator
    • Labour Market Report
    • MLI in the Media

© 2021 Macdonald-Laurier Institute. All Rights reserved.