Finance Minister promises support for Alberta oil industry, but does not offer specifics

CALGARY (660 NEWS) — Another top federal official paid a visit to Calgary on Tuesday, as people demand action on helping a struggling oil industry.

Bill Morneau spoke to the Calgary Chamber during a luncheon at the Telus Convention Centre, one week after Prime Minister Justin Trudeau came to the city for similar reasons.

In his speech to the Chamber crowd before a question and answer session, Morneau says the government remains steadfast in its commitment on building the Trans Mountain Pipeline Expansion, and finding any other possible solutions to a price differential dogging the Canadian oil market.

Morneau said that purchasing the pipeline is a way to show support for the industry, while also striking a balance with the government’s environmental goals.

“It was a decision on behalf of our whole country,” Morneau told reporters after his speech. “Recognizing that this sector is important here, in Calgary, but important to the entire country. We will continue to be resolute in thinking about ways we can ensure that we deal with the long-term success of our economy.”

The Minister maintained a focus on local workers who are struggling in this environment, and related the support to efforts made in improving trade so that we can make further deals with other countries.

“We want to deal with the biggest, most important challenge for this sector: getting our resources to international markets. But we are resolved that we want to help workers deal with very real issues they are presented with as well.”

Morneau said he understands the anxiety and anger present in Calgary, referring to protests outside on Stephen Avenue. However, there were not many specifics on how to directly address the issue. The Finance Minister was not too supportive of the idea to increase rail transport, as Premier Rachel Notley has proposed.

“We will be a team member in trying to make sure we are considering all opportunities, and what the appropriate federal role might be in doing that,” said Morneau. “Recognizing that the rail idea is one that might take some time.”

He believes it could be a possible short-term solution to increasing market access, but does little to support the longevity of the industry. Morneau says Ottawa is more focused on the long-term solutions, which is why they want to stay on the Trans Mountain project.

Morneau also faced questions about Albertans who are concerned the federal government will instead pay more attention to Ontario, after the announcement the GM plant in Oshawa would be shut down next year, with the loss of 2,500 jobs.

“I’m here recognizing the significant challenge facing the oil and gas sector here in Alberta and trying to make sure that we are considering ways that we can appropriately deal with the challenge.”

But the mood in the room during Morneau’s speech was unmistakable, as guests gazed at their phones and sat glassy-eyed, apparently not too impressed with the lukewarm message of support without any firm solutions yet on the table.