Energy experts from The Heritage Foundation and the Montreal Economic Institute (MEI) have urged leaders from the United States and Canada to leverage the upcoming G7 summit in Kananaskis, Alberta, to reinforce their shared energy objectives. Diana Furchtgott-Roth, director of the Center for Energy, Climate and Environment at The Heritage Foundation, emphasized the importance of energy cooperation among Canada, Mexico, and the United States for Western energy security. She said that both President Trump and Prime Minister Carney prioritize energy within their administrations.
Furchtgott-Roth advocated for G7 members to focus on energy abundance by collaborating on expanding energy infrastructure. She suggested implementing streamlined permitting processes to facilitate necessary capital investments.
Daniel Dufort, president and CEO of MEI, highlighted how Canada's and the United States' complementary energy resources enhance prosperity and security. He noted that expanding pipeline networks could reduce reliance on Chinese and Russian energy by supplying European and Asian allies.
Currently, Canada exports 2.8 million barrels of oil daily to the U.S., which is refined into various products for domestic use and export. Additionally, Canada supplies 8.7 billion cubic feet of natural gas per day to the U.S., which is then exported as liquefied natural gas from ports in Louisiana, Texas, and Maryland.
The proposed strategy would see Europe purchasing more high-value light oil from the U.S., supported by Canadian heavy oil imports. Meanwhile, Asia would increase its consumption of Canadian LNG, reducing China's and Russia's influence over the region.
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