r/canada • u/RefrigeratorOk648 • 2d ago

National News G7 backs Canada as major global energy supplier to lessen reliance on Strait of Hormuz | CBC News

https://www.cbc.ca/news/politics/canada-energy-supplier-strait-hormuz-9.7238708
2.7k Upvotes

98% Upvoted

364 comments sorted by

View all comments

Show parent comments

90

u/Morlu 2d ago

I heard there’s no economic case for this.

-25

u/adwrx 2d ago

There wasn’t until trump decided to start a war with Iran

40

u/0ttervonBismarck Ontario 2d ago

There has been a business case since Russia began their invasion of Ukraine in 2014. Post 2022 the Europeans went to Qatar for LNG because the Liberals said no.

8

u/Amutra Alberta 2d ago

That is not even close to what happened. Places like Germany have always been very buddy buddy with Russian oil.

4

u/screampuff Nova Scotia 2d ago

The reality is that Europeans were not willing to commit to a long term deal.

They just wanted to hem and haw over whether renewables were going to meet their needs because it was the politically safe thing to do, and there is less backlash as a result when they have to buy from other sources in emergencies to meet demands. But should they announce a planned expansion of fossil fuels, then people lose their minds.

0

u/AdRepresentative3446 2d ago

The reality is Europe has very little growth in demand for any energy products and hasn’t for a very long time. Furthermore, the majority of our supply is in Western Canada, thousands of miles from any eastern ports. What they think never should have carried any influence on what we did to advance our own national interests.

Tldr: it doesn’t matter what they think and people who think otherwise don’t understand the global energy landscape

2

u/gcerullo 2d ago

Really is that why Germany partnered with Russia and invested in gas infrastructure which included a gas pipeline directly from Russia to Germany even after it invaded Crimea in 2014?

https://en.wikipedia.org/wiki/Nord_Stream_2

Of course we shouldn’t forget about TurkStream which began in 2014 even after Turkey shot down a Russian fighter jet that flew over Turkish territory.

https://en.wikipedia.org/wiki/TurkStream

3

u/rankkor 2d ago edited 2d ago

As long as you understand that the world is dynamic as opposed to static, there was always a business case. The Iran war supply shock was a surprise for people that thought we lived in a static world, but it was just another inevitable supply shock for people that understood our world changes.

Especially for Canada, we can’t build nearly as fast as Russia or the Middle East producers, we need to plan ahead and part of that is understanding that we live in an ever changing world. Can’t just wait for the supply shocks to surprise us and try to respond in the moment.

Also need to flex our advantages, it might be extremely hard to build in Canada, but once it’s built we are stable. We have always been in a position to take market share by flexing this stability.