empty
 
 
28.09.2021 11:48 AM
New CEC campaign urges US to import oil from Canada

This image is no longer relevant

The first phase of the new campaign launched by the Canadian Energy Center (CEC) in the United States is urging Americans to primarily choose Canadian oil for cleaner energy production and cheaper prices. According to them, the US has a choice from where it imports oil, and that Canada is a better, closer, cleaner and friendlier option compared to countries like Russia and Saudi Arabia.

US reportedly consumes about nine million barrels of oil per day, beyond what is produced domestically.

Tom Olsen, CEO of the Canadian Energy Center, spoke on behalf of the citizens of Canada and America, alarmed that the US government has asked OPEC countries to provide more oil to contain the rise in gas prices, rather than cooperating with Canada.

Olsen added that the US government has closed the door for the Keystone XL pipeline, which would be the first zero-emission, renewable-energy pipeline.

While Americans would like the country to be truly energy independent, it is important to note that there is still a need to import oil from foreign countries. Of the top ten countries that the US bought oil from in June 2021, three were rated as expensive. These are Russia, Saudi Arabia and Iraq. Meanwhile, three are partially free - Mexico, Nigeria and Colombia. The campaign highlights that oil from Canada is America's best option.

WTI soared today to $ 77:

This image is no longer relevant

"It only makes sense for our friends and allies in the United States to use oil produced here, in place of that being imported from Russia, Saudi Arabia and other countries. Thousands of Indigenous people on both sides of the border benefit from the industry, through jobs and other benefits that help to address poverty. We are able to do so while ensuring the land is protected. Protecting the land is part of our culture. We believe climate change is a real issue. But we don't believe that cutting off oil and gas is the way to go to reaching a low-carbon future. Canada's energy industry can lead the way for the world," said Dale Swampy, CEO of the National Coalition of Chiefs (NCC).

Andrey Shevchenko,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback