Canadian business leaders make pitch to U.S. on covering Ukraine invasion-related energy, food shortfalls

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Business Council of Canada president leads delegation to Washington to offer Canadian commodities such as oil, barley and potash as a means of coping with shortages brought on by Ukraine war

Canadian business leaders are pitching U.S. lawmakers on turning to Canada to cover energy and food shortfalls stemming from Russia’s war on Ukraine.

“In Canada we have the capacity to meet about 200,000 to 300,000 of those barrels on a daily basis. It would be shipped by rail obviously, but we feel we can help offset some of the inflationary pressures Americans are facing at the pump,” Mr. Hyder said.He said businesses are committed to a transition to a greener and more energy-efficient future. “But it’s going to take some time and during that transition you want to have access to a safe reliable supply of energy and Canada can provide that.

Mr. Toomey was a supporter of the Keystone XL Pipeline expansion project that would have carried more Canadian crude to U.S. markets but was rejected by successive Democratic presidents. Mr. Biden revoked the permit upon taking office in 2021. Mr. Toomey has recently called for the revival of Keystone.

The head of the business lobby said the message to the United States is: “At a time in which you are looking for reliable partners to build resilience in your supply chain, you don’t need to look very far.” Mr. Biden has blamed the latest spike on Russia’s invasion of Ukraine. U.S. consumer prices, including for rent and food, have also surged, and inflation is poised to accelerate even further as Russia’s war against Ukraine drives up the costs of crude oil and other commodities.

 

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