Canada is a producer and net exporter of oil. As such it does not keep reserves of petroleum.
Yet this national status masks an important regional divide; Eastern Canada is a net importer of oil, receiving up to 90 per cent of its oil from overseas, much of it from OPEC countries like Algeria, Iraq and Saudi Arabia.
And under NAFTA, Canada has to maintain its high level of exports to the United States even in the event of a domestic crisis of supply.
Gordon Laxer explains what the Canadian government needs to do to ensure that Canadians are protected from future oil shocks. >> get more info
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