In mid-November, I had the pleasure of visiting a Cabot O&G rig site in Susquehanna County. Pennsylvania. Upon arrival, I immediately noticed the Alberta flag flying next to the American flag at the site. Why would an American company fly an Alberta flag at one of its sites in Pennsylvania? Just behind the flag, scrolled across the drill rig was the answer – Precision Drilling. Precision is an Alberta-based oil and gas field services company.
The Cabot-Precision partnership is just one of many examples of Canadian and American businesses working together to facilitate the development of our natural resources and contribute to North America’s energy security. Hundreds of Canadian-owned companies have invested here in the Commonwealth, many in the energy industry. Companies like Precision, Newalta, Talisman, Ridgeline Energy Services and many others employ thousands of Pennsylvanians across the state and are partnering with American companies to safely develop the state’s natural resources.
The U.S.-Canada, and more specifically, the PA-Canada energy relationship offers incredible economic opportunity. We share the potential for greater energy security than we’ve ever had and for economic expansion and prosperity that will keep us competitive for decades to come.
Canada – your neighbor, closest friend and ally – possesses the third-largest oil reserves in the world. Canada’s oil sands alone are the world’s largest private sector infrastructure project – and the broader Canadian resources sector anticipates $650 billion worth of investment in over 600 projects in less than ten years. Already almost 90 companies in Pennsylvania directly or indirectly support the Canadian oil sands and pipeline projects – that’s jobs created, tax revenue and GDP for the state. As Canada’s oil production grows we’re going to need American ingenuity to assist us in our mission to safely and efficiently develop our natural resources.
Pennsylvania companies are well positioned to do business in Canada. Pennsylvania’s strong manufacturing base is recognized and celebrated – and after navigating through the acute difficulties of recent years, including the global economic downturn, it is emerging as diversified and modern, with a skilled and educated workforce. Pennsylvania manufacturers and innovators should look toward Canada’s energy sector as an opportunity to expand their business and invest in their future.
Canada is already the U.S.’s largest energy partner and number one supplier of everything from oil to gas to nuclear to renewable power, but did you know Canada is a growing receiver of American energy? Ontario is purchasing an increasing amount of the Commonwealth’s natural gas and other provinces are looking into future import potential. This represents real, concrete, and immediate prospects for Pennsylvania businesses with America’s most reliable and productive partner.
Developing vast resources requires a sustained commitment to our environment and our climate, responsibilities that Canada takes extremely seriously. Canada remains dedicated to seeking out both policy innovations and technological advances that will further reduce our impacts and enhance our efficiency and sustainability.
As I think back to my visit to Susquehanna County, I am excited by the prospects for both Pennsylvania and Canada. I want to ensure we leverage every opportunity to increase our trade and commerce.
John F. Prato
Consul General of Canada in New York