'Incredibly important': U.S.-Canada relationship a focus at the Global Energy Show

Calgary Herald

a day ago

Canada's push to become an 'energy superpower' and the recently precarious trade relationship with the U.S. were discussed at the Global Energy Show.
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Among the events on the first day, Peter Mansbridge hosted several executives for a panel on U.S.-Canada relations and North America's energy future.
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Cenovus Energy president and CEO Jon McKenzie; Lisa Baiton, president and CEO of the Canadian Association of Petroleum Producers; Rona Ambrose, deputy chair of TD Securities; and Clay Sell, CEO of X-energy, all addressed the exhibition crowd on Tuesday.
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Ambrose said it's an opportunity, adding that the 'silver lining' of the tension between the U.S. and Canada is that it has resulted in Canadian unity that hasn't been seen in 'a long time.'
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She also noted that it has created a general consensus around the importance of energy, with more Canadians being engaged on the issue.
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Baiton described the current situation as a 'monumental shift' in Canada's current relationship with the U.S. and said the events of the past few months have 'fundamentally and likely permanently changed our long-standing partnership.'
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However, having traded oil and gas with the U.S. for about 150 years, Baiton argued that the highly integrated supply chain means the U.S. will always remain a major destination for Canadian energy.
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'Well over 90 per cent of our oil experts go to the U.S., and today, about 99 per cent of natural gas goes to the U.S.,' said Baiton.
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Sell, who is from the U.S., echoed Baiton's sentiment of how intertwined the two countries' energy systems are.
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'For over a century, we had a great trading relationship before the North American Free Trade Agreement,' said Sell, adding that 'challenges' in U.S. President Donald Trump's first term were addressed in the U.S.-Canada-Mexico agreement.
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In terms of Canada diversifying its energy customers, Sell said it's wise.
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'Security through diversity, I think that's a wise choice, as the US is also seeking to increase its energy security through diversity,' he said. 'But fundamentally, I don't think anything can really change the core of the U.S.-Canada relationship.'