CALGARY — Energy and Natural Resources Minister Tim Hodgson was optimistic on Canada’s energy future during an event in Calgary on Friday, arguing the country must urgently diversify its oil exports beyond the United States.Addressing energy sector leaders at a luncheon put on by the Canadian Association of Energy Contractors (CAOEC) and the Explorers and Producers Association of Canada (EPAC), the minister said, “This government and Canadians now understand that energy is the engine of Canada’s economy,” but added the country’s reliance on a single customer was leaving the economy vulnerable.“No one running a small business would think it makes sense to sell 90% — or in oil’s case, 95% — of what you produce to one customer,” Hodgson said in a Q&A session with EPAC President and CEO Tristan Goodman.“We have buyers around the world calling for Canadian oil.”He emphasized that expanding pipeline access to tidewater remains key to unlocking higher global prices for Canadian crude oil..Hodgson puts LNG at heart of Canada’s energy ambition during Calgary event.“It makes huge economic sense for Canada to get more of those resources to tidewater,” Hodgson said.“It is incumbent as a person to be able to sell natural resources to every ally we have, not just the ally next door. No one running a small business would think it would make sense for you to sell 90% — or, in the case of oil, 95% — of what you make to one customer.”He pointed to Ottawa’s backing of the Trans Mountain Expansion Project and ongoing work with Alberta to increase export capacity as examples of diversification.The minister’s comments come amid US President Donald Trump’s approval of the Bridger pipeline project, which will transport Canadian crude from the US-Canada border to Wyoming and will be using part of the existing route built for the Keystone XL pipeline.Calgary-based Sun Bow Energy is a partner in the project.Speaking to the media, Goodman said industry sentiment around the Bridger project and the possibility of shipping more Canadian crude south of the border is more positive than in previous years, but risks still remain.“Nothing's a guarantee anymore. There's always some degree of risk in these things, but I think it's looking fairly positive,” he said.“It's very different from the past, just given the international situation and where things are at. As you look out on energy security, and broadly at the North American context, there are a lot more opportunities there to develop oil and natural gas. This is part of it.”
