To reiterate its strong ties to the U.S. energy industry, Alberta Premier Ralph Klein led a trade mission to New York this month to meet with investment companies and business leaders to encourage continuing oil and gas investments that have made the province Canada’s energy capital.

Klein, in a speech before the Canadian Society, said that he believes that North America’s “key challenge of the 21st century is a secure, stable supply of energy to keep our economies prosperous and our communities strong.” He noted that the Alberta’s natural gas hub currently ships more than 17 Bcf/d to U.S. markets — 14 Bcf/d from Alberta alone — representing 15% of total U.S. gas consumption. “That natural gas hub, by the way, is also the key to unlocking the potential of Arctic gas, both in Alaska and the Northwest Territories, and delivering that gas to the Lower 48,” said Klein.

Oil sands production, the province’s newest resource to be developed, also is performing well, he said. This year, nearly half of the planned C$90 billion in energy investment in Alberta was slated for oil sands development. “That investment will help unlock the secrets to extracting the full potential of the reserves, just as investment from a few decades ago led to today’s success story,” said Klein.

The Alberta premier stated the province can ensure that the United States will attain its energy goals, pointing out that the province’s energy sector offers “two important products…secure, affordable energy and first-rate investment opportunities.” He also softly criticized development plans by some domestic producers to grow their companies overseas instead of in North America. “Much of the answer to your country’s search for a secure supply of energy in the 21st century lies not across the world, but just across the border, a single step outside the town of Sweetgrass, MT.”

Klein also took time to blast the Canadian government’s support of the Kyoto Protocol to reduce greenhouse emissions. Alberta has opposed the measure, which is expected to be ratified by the country. “We don’t believe the environmental benefits promised…justify the potential economic impact” the protocol could have on Canada,” said Klein. “If, as expected, Kyoto is ratified, Alberta will protect its economic and environmental interests.”

The “federal commitment to Kyoto,” said Klein, “has created some uncertainty in the Alberta oil patch and in investment circles. Investors are asking themselves whether the constrictions of Kyoto will make their plans uneconomic. These are legitimate questions, and they are one of the reasons why Alberta has charted its own course on climate change. Alberta will not let its place as a stable supplier of energy and a profitable place for investment be rattled by Kyoto. We’re committed to working with industry and other provinces on climate change in ways that protect and even enhance the economy.” He added, “real reductions in emissions have been made by the industry, long before Kyoto became a gleam in the federal government’s eye.

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