On February 29, Perrin Beatty, CEO of the Canadian Chamber of Commerce delivered a keynote address at the What’s Next for Western Canada’s Oil and Gas Industry conference in Calgary. Hosted by Milestone GRP, the conference brought together industry CEOs and executives, government leaders, First Nations representatives, community leaders, environmentalists and renowned experts to discuss financial, operational, technological and policy concerns that are affecting Canada’s top natural resource. During the opening luncheon, Perrin touched on the advantages of pipelines, including job creation, an improved national economy and fostering international trade. Today, while the oil and gas sector suffers, pipeline politics is taking the front seat. But, it’s not just western provinces that are affected; this has resulted in a negative impact on Canada’s competitiveness. As highlighted by Perrin:
“When times are good, the energy sector provided opportunity to people across the country. In 2014, before the slide in oil prices, Canada’s oil and gas industry supported 500,000 jobs across Canada…….When times are good for the energy industry, the direct and indirect impacts of capital investment and maintenance, repair and operation expenditures contributed $148 million dollars to the GDP of the Atlantic provinces, $470 million to Quebec, $717 million to BC and almost $2 billion in Ontario. But of course, times are not good.”
A complete transcript of Perrin’s address can be read here.