Alberta Premier Danielle Smith says the war in Iran underscores the need for a new pipeline connecting her province’s oil reserves to the West Coast.
The threat of shipping disruptions have seen global oil prices jump since American-Israeli attacks on Iran over the weekend.
Smith says any disruption in the Strait of Hormuz, a key oil choke point at the mouth of the Persian Gulf, only underscores the need for a new pipeline that could 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 need to have a stable source of supply.
Depending on how much market volatility is to come with one month left in the province’s current fiscal year, 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 coming year based largely on sluggish oil prices.
