Energy security is key in Canada's economic recovery

By Linda Horn

TRENTON ONT (18/05/2011 -The Honourable Perrin Beatty, President and Chief Executive Officer (CEO) of the Canadian Chamber of Commerce poses for pictures after a luncheon speech he presented. Quinte West Chamber of Commerce hosted the luncheon. Local business people, government officials and member from surrounding chambers attended to hear Beatty speak. Photo by Linda Horn.

The Honourable Perrin Beatty says the Canada- United States border and energy security are key issues in Canada’s economic recovery.

Beatty, president of the Canadian Chamber of Commerce and a former Minister of National Defence, spoke to a luncheon in Trenton on May 18 with local business people, government officials and members of surrounding Chambers of Commerce in attendance.

Beatty told the crowd that is he is encouraged by Canada’s recovery and growth since the global recession.

“We weathered the recession better that the western industrialized countries, we will have our books back in balance in the next three years, “ said Beatty.

He also warned that even though we are expecting Canada’s economy to grow by 3% in 2011 we should not be complacent. Canadians should expect higher economic growt and should benchmark themselves to be the best in the world.

Policies and procedures are in place to ensure that Canadians can compete any where in the world, he said.

Beatty said there are two main key issues in making Canada more competitive.

The first issue is maintaining a healthy Canada-United States border relationship.

“We do as much business with one American company, Home Depot, as we do with France,” said Beatty.

It is an incredibly important relationship with eight million jobs in the United States and three million jobs in Canada depending on the trading relationship. There’s a need for a free flow of goods and services across the border, he said.

“The border in the future has to become a process not a barrier,” said Beatty.

The other key issue said Beatty is energy security. Energy security is directly linked to economic competiveness and job growth.

“We have seen the upheaval of the affect of the price of oil. The great irony is that Libya, a major cause of the latest increase, exports virtually no oil to North America,” said Beatty.

The United States has allowed itself to become too dependent on energy supplies from some of the most unstable parts of the world, said Beatty. That’s one reason he said he would like to see the Keystone XL pipeline is built.

The pipeline would run from the oil sands in Alberta to the refineries in the Gulf Coast of Texas.

“The Keystone XL pipeline would allow Americans to replace 40% of imported oil, they get from the Middle East to be replaced with Canadian oil. It would also create jobs in both our countries and fuel prosperity here,” Beatty said.

As a former Minister of National Defence, he talked about how the base at Trenton injects tens of millions of dollars into the community.

Beatty said his visit has personal meaning to him and he expressed his admiration of the residents of the area for their strength and dignity for the hard times this area has gone though the past year.

Beatty also congratulated the Chamber of Commerce branches across Canada for all their hard work.

“This {the Chambers of Commerce} is the main street of Canada and the most important link for the government at any level has with the business community.”

“It is truly the voice of Canadian business,” said Beatty.