century. On behalf of the Government of Canada, I welcome you to Calgary and to
Canada.
There could be no more fitting place to stage this event in Canada than
Calgary. A premier Canadian city. The heart of our $31 billion petroleum
industry. And a place we call the capital of the New West. Where the same
innovative and pioneering spirit that first tapped the oil fields of Alberta,
and helped make Canada one of the top 10 petroleum-producing nations in the
world, is now at work creating new, cutting-edge technologies. That will keep
Canada in the vanguard of a global energy industry that begins the new century
at a cross road of challenge and change.
While that spirit is strong here in Alberta. It is at work right across
Canada. Across the breadth of a nation rich in energy. Our vast and varied
geography has challenged our ingenuity over and over again. Our skills and
know-how have been proven and refined. Making us a prime choice for those
seeking new investment opportunities and strategic alliances.
Here in the West, over $25 billion of new oil and gas development is planned
over the next decade. There are over 600 million barrels of recoverable oil off
the east coast of Newfoundland and Labrador, and another 17 significant
discoveries in the region that are yet to be developed. And there are
significant natural gas reserves in the North.
In Saskatchewan, our Petroleum Research Centre is developing new methods of
extracting oil that cannot now be recovered, improving the yield from marginal
wells, extending the life of existing reserves, and making production more
economical.
We also want you to think of Canada as more than an oil and gas treasure
house. We want you to think of us as a primary source of know-how and expertise
that can be tapped to deal with the global challenge of climate change.
We in Canada believe that climate change is real. That we must adapt. And
that the demand for low carbon or carbon free energy will grow. It is clear that
many of you believe that as well. For example, BP Amoco is active in renewable
energy. Shell International has committed $500 million for investment in clean
energy. And here in Canada, Suncor has committed $100 million.
In Canada, we look upon this historic environmental challenge as an economic
opportunity. We are committed to making Canada the place to be for new energy
development and investment. And working in partnership with our research
institutes and the private sector, we are making it happen.
We have the most generous tax regime for research and development in the
world. We have developed state-of-the-art expertise in areas like fuel cells,
high-tech buildings and energy efficient technology. And we have established
programs that help innovators and potential users cover the cost of
demonstrating new technologies.
As you gather to exchange ideas, you will find that the desire of Canada for
new partnerships extends beyond investment and technology.
Our government and private sector are also working together to advance the
cause of corporate social responsibility. Our Minister of Trade, Pierre
Pettigrew, and our Foreign Affairs Minister, Lloyd Axworthy are at the forefront
of this global movement.
And they have found willing partners in Occidental Petroleum, Enbridge, the
Alberta Energy Company, and the Canadian Association of Petroleum Producers.
Their common effort and shared commitment should be a guide to others.
Ladies and gentlemen, Canada is proud of what we have to offer the world. Our
spirit of innovation. Our commitment to finding solutions that work for our
environment and our economy. Our commitment to social responsibility. And we are
pleased to have this opportunity to enhance our business contacts and build new
partnerships.
I know that the trademark warmth and hospitality of Calgary will make your
time here both enjoyable and productive.
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