Did you know that Canada holds the world’s third largest oil reserves? And yet, our country spends billions of dollars each year on costly foreign oil imports.
Last year, Eastern Canadian refineries paid:
- $2.5 billion for oil shipments from Saudi Arabia
- $1.8 billion on Iraqi oil imports
- $1.4 billion on Norwegian crude
Why is Canada spending all that money on foreign oil?
Because our country has no continuous pipeline connecting Western Canada’s oil patch to Eastern Canada’s oil needs.
Energy East will displace foreign imports and provide a secure supply of oil in the safest way possible – by pipeline.
Energy East can fix this costly bottleneck.
The proposed 4,500-kilometre long pipeline will connect Western Canadian oil fields to Quebec and New Brunswick. It would put an end to the absurd situation our country finds itself into:
- Western Canada exports 97 percent of its oil production to a single trading partner – the United States.
- Eastern Canada imports approximately 75 percent of its oil supply from foreign countries.
Energy East will displace those foreign imports needs, provide Eastern consumers and businesses with the energy they need and position Canada to be a responsible supplier to the rest of the world.
You can also read this blog in French