As an Alberta MP you should probably know we are the only G7 country without a strategic oil reserve because we are the only G7 nation that is a net exporter of crude. National strategic reserves are maintained to meet an obligation to the IEA to hold 90 days of net imports on hand. That obligation for Canada is zero barrels. There is ~95 million barrels of private storage in Canada. Strategic reserves protect importers from supply disruption, not cost. Product released from reserves still generally enters the market at the global price. To truly get the price down, we need to resolve global challenges with supply and refining capacity. We’re keeping prices down in Canada by pausing the excise tax on gas, giving a groceries and essentials benefit to those who need it most, and working with provinces and companies to increase global supply, alleviating upward pressure.
Why doesn’t Canada profit from releasing oil and diesel from our Strategic Petroleum Reserve? Because we are the only G7 with no reserve. Our Conservative plan changes that. Build a strategic reserve to profit Canada, boost our dollar, lower fuel prices, and make us more independent: conservative.ca/cpc/emergenc…
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Replying to @coreyhoganyyc
You're an idiot. The 95 million is tank space, not a reserve. IEA members must hold 90 days of net imports. Net exporters are exempt. Canada is a net exporter, so its stockholding obligation is zero. It has no public SPR and does not force companies to hold emergency stocks. The IEA says that outright. Canada's barrels are commercial working stocks at places like Hardisty and Edmonton. Western Canadian crude tank capacity is on the order of 100 million barrels (Alberta alone is about 91 million). That is how much the tanks can hold, not how much is in them, and it is not oil set aside for the IEA.

Oct 3, 2026 · 10:54 PM UTC

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