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Shell Canada president urges Canada to open doors to world market

Published by Steve Coleman on September 20, 2011

Shell Canada's president says Canada is missing a golden opportunity to cash in on Asia's growing thirst for energy.

Canada is the only major energy-producing country in the world not actively pursuing Asian, Shell Canada President Lorraine Mitchelmore said in a Sept. 18 speech during the annual general meeting of the Canadian Chamber of Commerce in St. John's, Nfld.

"We are the only major oil and gas producer in the world that does not have access to a global market," Mitchelmore said. "All our eggs are in one basket - the U.S. Right now, Asia is setting up its energy supply points and Canada is not one of them."

During the speech, she also urged the business community to lobby federal politicians to build a more competitive energy framework to help put Canada on the map. The suggestions included a more streamlined regulatory system.

Quoting energy economist Peter Tertzakian, she said Canadians currently lose about $50 million a day of revenue because Canada can't access global energy markets.

"It adds up to $18 billion every year of which $4 billion would be the government's take," Mitchelmore said. "In other words, that's $4 billion that could be used to provide services for Canadians."

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