Canada should not be 'embarrassed' by oil, Premier Wall says

Saskatchewan Premier Brad Wall says the energy strategy being discussed at the meeting of premiers and territorial leadersis a little light on one of the country's biggest natural resources oil.

He made the statement this morning as he arrived at the annual summer meetingin St. John's, where the country's leaders are hoping to agree on a nation-wide energy policy.

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"It doesn't look like a document from a country that's home to the third greatest oil reserves in the world," Wall told reporters.

Wall said it's almost as though Canada has become embarrassed that the country has the resource at all.

"On the strength of developing that asset we have funded innumerable social programs, we've created strong economies, we've had a period of growth in this country for a very long time," he said.

"It's almost like we've become embarrassed that we have this energy asset," Wall said.

According to the premier, not being able to get Saskatchewan's oil to tide water represents up to$300 millionin lost revenue every year, because the oil is worth more on the international market.

"That's lost money to the owners of the resource," he said. It's the people of the country, people own that resource and right now they're selling it at a discount because we can't move it to tide water."

Wall said he hoped the premiers would be able to reach an agreement on an energy strategy by balancing environmental considerations withthe benefits of transportingoil and gas to the country's east and west coasts.