News Analysis
Ottawa said last week it would do its part to ease upward pressure on oil prices amid the Iran war, but with no strategic reserve and limited capacity to boost production and exports, its impact may be limited.
This has fuelled a longstanding debate about whether Canada, as a major oil producer, should further develop storage and transport infrastructure for domestic stability and economic growth.
Amid conflict in the Middle East, Conservative Leader Pierre Poilievre has called on Ottawa to establish a strategic oil reserve. Prime Minister Mark Carney, meanwhile, has responded that Canada, as a net oil exporter, doesn’t need to.
