The deadly U.S.- and Israel-led attack on Iran has given way to a cold economic reality. According to the International Energy Agency, the war in the Middle East has created the biggest oil supply disruption in history. With oil markets in turmoil and fears of export restrictions growing as the conflict enters its third week, Canada suddenly has more relevance in the conversation around energy security.

This week, West of Centre host Kathleen Petty is joined by Gitane De Silva, the former CEO of the Canada Energy Regulator and Alberta’s former senior representative to the U.S.; and Heather Exner-Pirot, director of energy, natural resources and environment at the Macdonald-Laurier Institute.

When it comes to oil scarcity, both experts agree that Alberta has little to fear. While consumer prices are set to climb, the province’s abundance of oil and natural gas is critical to weathering the economic storm. And Canada’s reputation as a stable, reliable and predictable energy partner is becoming increasingly attractive to our global allies. As the Canada-United States-Mexico Agreement (CUSMA) comes up for review, Canada may find itself with a lot more muscle to flex at the table. 

Alberta Premier Danielle Smith says the conflict underscores the need for a new bitumen pipeline to the northwest B.C. coast, but does the crisis actually make the project more urgent and, more importantly, viable? There are big hurdles for new energy infrastructure in Canada. And as the April 1 deadline approaches for the federal and Alberta governments to come to an agreement on methane, carbon pricing and carbon capture, the industry is spooked over some key conditions for the project’s approval.

• Host: Kathleen Petty
• Guests: Gitane De Silva, Heather Exner-Pirot
• Producer: Diane Yanko