Canada’s energy: Living up to our superpower
Date: Oct. 6, 2023
Event: Enbridge CEO Greg Ebel addresses Toronto Region Board of Trade on Canada’s ‘obligation’ to address global sustainability via LNG exports.
Below: Selected excerpts from Mr. Ebel's presentation in Toronto.
Read the full speech here.
“Our country is uniquely positioned to be a leading exporter of LNG for decades to come. We have the supply. We have sustainable production. We offer short travel times. We are the complete package. But we have a choice to make. And let there be no doubt: inaction is a choice. Indifference is a choice. It’s time for our leaders in government and industry to rise to the challenge.”
“Our government has committed that Canada will be net zero by 2050—just like many others—and further refined its goals for 2030. But Canada accounts for 1.4% of the world’s CO2 emissions. And yet below the surface Canada has vast reserves of natural gas—and oil of course—that if used to displace coal in Asia and Eastern Europe could have a far greater impact on reducing global emissions than the impact Canada will have by achieving its own 2050 net zero commitment.”
“If the moment is urgent, you would think we would not hesitate. And you would think we would not actively work against our own interests for the good of Canadians. And for the good of the planet and for the millions and millions of people in the world who through no fault of their own find themselves without access to energy which is a critical enabler of education, health care, technology and a good quality of life.”
AT RIGHT: Enbridge President and CEO Greg Ebel, presenting to the Toronto Region Board of Trade on Oct. 6, 2023.
“There is a clear signal that LNG is part of the equation—part of the future. But even with the U.S. expansion, there’s still plenty of room for Canada to be a serious player. We have countries knocking on our door. Our allies are knocking on our door. Germany, Japan, South Korea . . . they’re not shy about it: They want to buy Canadian gas. And they’re not alone.”
“As an aside, two of these are G7 countries—our greatest allies. Canada is not a military superpower nor an economic superpower. We are an energy superpower and using that power for good when asked by our allies is more than a fair price to maintain our G7 status and reputation. In my experience, if you constantly decline invitations from your friends you soon receive no more invites.”
“In the past 15 years, switching from coal to natural gas has accounted for nearly two-thirds of all U.S. greenhouse gas emissions reductions.”
“Canadian LNG can help this happen around the world. We can play a positive role—and feel the pride of doing so. LNG can also help drive economic growth and opportunity—by connecting more people in the developing world to an affordable and sustainable source of power.”
