To help solve the global energy crisis, Canada says it can provide more oil, gas, and uranium.
According to Canada’s natural resources minister Jonathan Wilkinson, many countries are committed to helping as much as we can in terms of displacing Russian oil and gas.
The world’s fourth-biggest oil producer has committed to exporting an extra Two lakhs barrels of oil. ‘It would also export an additional One lakhs barrels of natural gas. We expect that by the end of the year we will be fully up to the Three lakhs barrels,’ said Minister Wilkinson.
Canada’s pipelines are running near full capacity so Canada is limited in how much oil it can export. Mr. Wilkinson says sending it via the United States is an option. Canada’s biggest pipeline company Enbridge is prepared to do anything to increase energy security for both North America and Europe.
Prices have soared as a result of Russian supplies being squeezed because it invaded Ukraine. Canada has joined the US and UK in introducing a ban on Russian oil. That has seen prices pushed up as high as almost $130 (£98.56) a barrel since the war in Ukraine began.
Also, Canada is prepared to export more uranium. Mr. Wilkinson explained, “our uranium producers actually do have excess capacity and certainly could ramp up to help to fill the gap that Russian supplies will provide”.
