New Report Calls for Canada to Set Up Strategic Petroleum Reserves
Canada is currently the most vulnerable country in the industrial world to short-term oil supply crises, and we need to establish strategic petroleum reserves to remedy the problem. This is the key finding of a report released today by Alberta’s Parkland Institute in conjunction with the Polaris Institute.
Canadian civil society organizations, including Alberta’s Parkland Institute, call upon Canada’s political leaders to respond clearly and unequivocally to US presidential candidate Barack Obama’s challenge to renegotiate NAFTA during this week’s Federal Leaders debates.
Despite the fact that we are running out of natural gas, and that we import 49% of the oil we consume, NAFTA dictates that Canada’s government cannot reduce the percentage of oil and gas we now export to the United States even in times of domestic shortages. A new report released today by the University of Alberta’s Parkland Institute and the Canadian Centre for Policy Alternatives (CCPA) says that the only solution to this and other potential scenarios is for Canada to pull out of NAFTA’s ‘proportionality’ clause.