PSAC, Ontario business leaders discuss future of energy in Canada
Vaughan’s business leaders emphasize need for increased investment into the oil and gas industry
The Petroleum Services Association of Canada (PSAC) recently met with business leaders gathered and hosted by the Vaughan Chamber of Commerce for a roundtable discussion. The conversation focused on the benefits to all Canadians of supporting the energy industry.
"The understanding amongst the Chamber's business leaders today about the significance of the Canadian supply chain for oil and natural gas that employs over 450,000 people from coast to coast to coast was evident," said Gary Mar, President & CEO of PSAC. "In particular, concerns of the impact that plunging capital investment in the industry is having on jobs for Ontario manufacturers and other businesses was recognized."
Participants at the discussion expressed a need for the government to support businesses within the energy sector that have tremendous spillover to the rest of Canada's economy, particularly the manufacturing industry and the many jobs it creates. As well, it was evident lack of critical infrastructure has led to Canada importing oil from foreign nations as opposed to buying from Canadian companies.
"The message today was clear: Canada is at the forefront of developing technology to produce energy driven by the highest ethical and emission standards which are both economically sustainable and beneficial for Canadians and our exports," said Brian Shifman, President & CEO of the Vaughan Chamber of Commerce. "We must invest further in the energy sector to reap the economic benefits of our largely untapped natural resources and help the world reduce reliance on purchasing from unscrupulous regimes."
There was a clear call from business owners to increase the capacity and infrastructure investment for the energy sector. By unlocking this investment and allowing Canada to build again, we will be able to produce and transport our energy supply across the nation.
Gary Mar added, "The need to find ways to champion the industry to facilitate the building of infrastructure to transport our vast natural resources to market to create jobs and economic benefits for all Canadians was echoed by all.