Saudi Arabia’s Ambitions Pose Serious Threat To Future Of Canada’s Energy Industry

And the Trudeau government is crippling our ability to compete.

As the Trudeau government imposes a carbon tax and massively increases economically destructive regulations that are crippling the Canadian energy industry, Saudi Arabia is preparing to ruthlessly outlast all competitors in the oil market.

In a recent Axios report, it becomes clear how Saudi Arabia is determined that their oil producing giant Aramco will dominate the future of oil on our planet.

Here are some key aspects of the report:

“Saudi Oil minister says the world of energy may be changing, but Aramco will survive longest and pump the last barrel of crude.”

“OPEC’s dominant producer, Saudi Arabia, is reacting to a widely perceived threat from U.S. shale oil and forecasts that global oil demand could level off in little more than a decade, and then start to decline. In such a scenario, Saudi and the world’s other petro-states — already in their third year of low oil prices — could face even worse fiscal trouble. Saudi is saying: Even if the petro-world does comes apart, we will be the last man standing.”

It’s important to note that Saudi Arabia estimates that oil demand will grow a full 45% by the year 2050, and OPEC says it will increase through the year 2040 at minimum. When Trudeau, McKenna, and the other pathetic elites claim that the oil industry is fading, they are merely surrendering to other nations, and giving up tens (if not hundreds) of billions in future profit for our country.

Canada must realize we are in an economic war

While many so-called “leaders” like to act as if the global economy is some sort of wonderful system where everybody gets along, the fact is that competition is a huge factor in the economy, and in certain sectors (such as oil), we are in an economic war with other nations.

For example, it is a total outrage (and result of garbage leadership) that we import oil from Saudi Arabia. We should easily be totally able to handle all of our energy needs domestically, and we should be massively increasing oil production to ensure our dominance of the oil market and dramatically increase the wealth of our nation.

Yet, the Trudeau government is actively crippling the Canadian energy industry, through higher taxes and regulatory barriers that have killed tens of billions in investments, and destroyed tens of thousands of jobs.

This is extremely dangerous for the future of our country and our economy. The combination of expanding shale production in the United States, Saudi Arabia fighting to ruthlessly dominate the oil market at the expense of all others, and the Trudeau government crippling Canada’s energy industry, will leave Canada a far poorer and far more vulnerable nation.

At this point, what kind of future we have is still a choice, and greater prosperity, strength, and independence can be ours. However, that will require new leadership, and will require ensuring the defeat of Justin Trudeau.

Spencer Fernando

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