Obama Singles Out Canada in New Energy Policy

The president announced plans Wednesday to cut U.S. oil imports by 30 per cent, but pledged to continue buying energy from Canada.

Middle Eastern countries bad, Canada good. That was the message that caught the attention of the Canadian energy industry Wednesday night when Barack Obama outlined his strategy to reduce the U.S. reliance on oil from the unstable Middle East. With unrest in the volatile region growing, U.S. gas prices jumped seven per cent this month and the president predicted more price hikes as China and India’s demand for energy grows. While promising to reduce oil imports by 30 per cent over the next decade, Obama hailed Canada as a “stable and steady” source and said that the U.S. would continue to partner with the country to ensure its energy supply. Canada is currently the biggest source of U.S. oil imports.