Speed Dial

Canada’s Stephen Harper on the Keystone XL Oil Pipeline


The State Dept. is scheduled to rule by yearend on the Keystone XL pipeline. Will it be approved?
It’s hard for me to imagine that the eventual decision would be to not build. The economic case is so overwhelming. The number of jobs that would be created on both sides of the border is simply enormous. The need for the energy in the U.S. is enormous, and its alternatives are not good on every level—economic, political, social, even environmental.
 
If it doesn’t get built, do you have other customers?
The fact that there are these kinds of pressures is all the more reason Canada should look at trade diversification and, particularly, the diversification of energy exports.
 
Should we begin to be more scared of Canada as a world oil power?
Canada is already the largest supplier of energy to the U.S. We are the greatest factor in American energy and national security. We don’t use oil or energy projects as strategic resources to achieve political ends. An integration of Canadian and American energy markets is a great thing, not just economically but politically and strategically, for both countries.
 
Some Americans wonder how long that might remain the case if, say, more Chinese capital goes into developing the oil sands.
We watch these investments very closely. We will not have our resources used to further foreign policy objectives of other countries. We’re pretty clear on that. And obviously, we share broad strategic interests with the U.S.

Schatzker is a reporter for Bloomberg News.

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