On December 15, 2015, Canada’s Minister of Natural Resources, Greg Rickford, was in Washington, D.C. to sign a memorandum of understanding that solidifies an energy relationship that will continue to prove beneficial for Canada, the U.S., and Mexico. According to the recent national news release, Minister Rickford highlighted the mutual benefit of the existing Canada-U.S. energy relationship while also going into depth to speak to the opportunities that exist for future cooperation between the two countries and Mexico. The continued relationship is said to have the effect of increasing energy security and environmental performance while simultaneously creating jobs for citizens of Canada, the U.S. and Mexico.
Efforts to Improve Energy Security and Environmental Performance Aims to Strengthen the Region’s Competitive Advantage
The signing of the memorandum “supports the recent commitment of North American leaders to build the most competitive and dynamic region in the world,” stated a spokesperson for the Minister’s office. The announcement of the trilateral relationship further outlined the benefits by grouping them into three distinct strategic areas:
- Developing North American energy public data, statistics and continental mapping of commodities and infrastructure;
- Responsible and sustainable best practices for the development of unconventional oil and natural gas; and
- Modern, resilient energy infrastructure for North America in all aspects — physical infrastructure as well as institutional infrastructure such as policies, regulations, workforce, innovation, practices to promote energy-efficient goods and services, and sustainable technologies.
Canada, US, and Mexico have Made Significant Progress to Date
Along with the announcement, the Ministry of Natural Resources released a host of related statistics that attest to progress already made by Canada, the US, and Mexico: Canada already lays claim to one of the cleanest electricity mixes in the world, with 65% coming as a result of renewable sources. Between 2005 and 2013, Canada’s crude exports have risen 64 percent, while dependence on foreign crude has decreased by 31 percent, while oil imports from each other are at record highs.
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