Andrew Scheer—leader of Canada’s Conservatives who are currently in opposition but leading Liberals in the polls ahead of the October federal elections—has recently outlined his vision for Canada that includes the country becoming energy independent by cutting off all foreign oil imports by 2030.
Scheer’s pitch is that Canada not only has more than enough oil to replace all the crude it currently imports from "rogue states" but also to stop all "foreign oil imports once and for all" by 2030. "
While the Conservative leader says that "an energy independent Canada would be a Canada firing on all cylinders,” analysts are concerned that ending all oil imports—especially from the United States which provides the vast majority of those imports—would damage trade relations and steer Canada into a protectionist lane that is not compatible with free market policies.
Experts also say that getting Canada’s oil to the market by solving the constrained takeaway capacity would be far more important for Canada and its economy than cutting off foreign oil imports.
Pipeline bottlenecks cost Canadian oil producers US$20 billion, according to conservative think tank the Fraser Institute.
"Now, we can pretend that the world doesn’t need oil and gas anymore – as some would have you believe. But it’s simply not true," Scheer said in a speech earlier this month.
According to the Conservative leader, Liberal Prime Minister Justin Trudeau "would rather countries like Iran, Venezuela, and Saudi Arabia meet that demand and, in doing so, boost regimes that abuse human rights and take virtually no steps to protect the environment.
"And he would rather the United States fill the void in the North American market, ceding investment and jobs that should be ours to our biggest economic competitor," Scheer said.
The U.S. provided more than half of Canada’s 592,600 bpd average oil imports last year, according to National Energy Board’s data. Saudi Arabia came in second, followed by Azerbaijan and Norway. Canada hasn’t imported oil from Iran or Venezuela in years. In exports, all of Canada’s oil is being exported to its long-standing trade partner, the United States.
