U.S. Chamber President Calls for Increased Development of America’s Energy Resources at Global Business Forum
In Major Address, Donohue Says U.S.-Canada Energy Relationship is 'Critical to the Economic
Vitality and Security of North America'
BANFF, CANADA--Delivering the keynote address today at the annual Global Business Forum, U.S. Chamber President and CEO Thomas J. Donohue called for an immediate increase in domestic energy production and strengthening of the U.S.-Canada energy partnership.
"A solid foundation for a competitive and economically vibrant North America is an abundant and affordable supply of energy," Donohue told the crowd of international business, academic, and government leaders. "The U.S.-Canada relationship must remain a bedrock of that foundation. To ensure jobs, growth, and competitiveness for our continent, the United States must immediately begin increasing its domestic production and strengthening its energy partnership with Canada."
In his speech, Donohue noted that China, Brazil, Argentina, and Canada are taking steps to secure more energy to fuel economic growth while America is lagging behind. He highlighted the Chamber's efforts to move forward on the Keystone XL Pipeline, which would safely link Canada's oil sands projects to Gulf Coast refineries. The environmental review of Keystone XL has taken more than three years to complete. Last month, the Final Environmental Impact Statement was released and found that the pipeline would have no significant impact on the environment.
"More than anything else, Keystone XL offers Americans an opportunity to improve their energy security," said Donohue. "The United States has a choice: It can secure access to a stable and reliable supply of oil from Canada--where human rights and the environment are protected--or it can continue to be over reliant on imports from nations that do not share our interests or values."
The Chamber's Energy Institute has launched the Partnership to Fuel America to promote the benefits of Canadian oil sands and support investment in critical North American energy projects. The Partnership is comprised of American businesses that understand that Canada's energy resources can help the U.S. meet its growing demand for energy.
In addition, Donohue renewed the Chamber's call on the Administration to produce more of our own energy by allowing exploration of the Outer Continental Shelf; revise its five-year leasing program to include more areas in the Gulf of Mexico, Alaska, and Atlantic Coast; reverse recent policies that have significantly reduced areas available for oil and natural gas exploration on federal lands; and allow the private sector access to vast oil shale resources to develop and test new production methods with significantly less environmental impact.
"America is sitting on huge supplies of energy on its land and off its coasts," Donohue said. "It can access it through methods like hydraulic fracturing more cheaply, safely, and efficiently than ever before. And yet, we've locked most of it away and tossed the key."