Alberta Premier Danielle Smith says the war in Iran underscores the necessity for a brand new pipeline connecting her province’s oil reserves to the West Coast.
The specter of shipping disruptions have seen global oil prices jump since American-Israeli attacks on Iran over the weekend.
Smith says any disruption within the Strait of Hormuz, a key oil choke point on the mouth of the Persian Gulf, only underscores the necessity for a brand new pipeline that might bring her province’s pivotal export to Pacific shipping lanes.
She says if the uncertainty continues, it only demonstrates that the world and Canada’s trading partners must have a stable source of supply.
Depending on how much market volatility is to return with one month left within the province’s current fiscal yr, Smith says her government’s expected $4.1-billion deficit could shrink.
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Last week, her United Conservatives projected a $9.4-billion deficit for the approaching yr based largely on sluggish oil prices.
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