Mexico, Canada Discuss Energy Needs
Speaking at a news conference in Mexico City, Canadian Energy Minister Ralph Goodale said Canada is confident it has enough hydroelectricity, gas and oil supplies for the future, even if demand increases.
Energy needs have dropped following the Sept. 11 terrorist attacks on the United States.
Mexico and Canada are among the four top suppliers of crude to the United States, along with OPEC members Venezuela and Saudi Arabia.
With California facing periodic, rolling blackouts, U.S. President George W. Bush suggested in January that Mexico might be able to provide its northern neighbor with electricity. However, Mexico has struggled to meet its own electricity needs.
During a meeting between the two leaders in February, the two agreed to work toward a comprehensive, regional energy plan.
Goodale said Canada is in a position to meet new supply opportunities, but added that "these are Canadian resources" and would be developed "with full respect for Canadian needs and priorities."
His Mexican counterpart, Ernesto Martens, said Mexico will also first see to its own energy needs.
Since 1998, Mexico has cooperated with OPEC on output agreements, first to cut production when prices approached historic lows, and later to replenish markets when they reached 10-year highs.
With OPEC currently mulling the possibility of cutting output to keep the price of crude within its established band, Martens reiterated that he is "convinced it is too soon," given instability in the market, to be able to make a decision.
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TIVERTON, ONT - The world’s largest nuclear fleet, became a little smaller Monday morning. Bruce Power has began the process to take Unit 6 offline to begin a $2.1 billion project to replace all the major components of the reactor.
The reactor, which produces enough electricity to power 750,000 homes, will be out of service for the next four years.
In its place, hydroelectric power and natural gas will be utilized more.
Taking Unit 6 offline is just the “official” beginning of a 13-year, $13-billion project to refurbish six of Bruce Power’s eight nuclear reactors.
Work to extend the life of the nuclear plant…
