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Amid an energy crisis, the world is drawing on its oil reserves. Why doesn't Canada have any?

CBC | Top Stories News·@Cbc·2 months ago
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BusinessAmid an energy crisis, the world is drawing on its oil reserves. Why doesn't Canada have any?Because Canada is a net exporter of oil, it doesn't need to keep reserves. But some say that rule is outdated, and our at-capacity oil industry can't do much to help fill the gap created by stalled tanker traffic in the Strait of Hormuz.Increasing production to help fill gap isn't possible in short term, experts sayAbby Hughes · CBC News · Posted: Mar 13, 2026 4:00 AM EDT | Last Updated: 2 hours agoPlayListen to this articleEstimated 5 minutesThe audio version of this article is generated by AI-based technology. Mispronunciations can occur. We are working with our partners to continually review and improve the results.A pumpjack draws oil and gas from a well head near Cremona, Alta., on July 15, 2025. Canada is a major oil producer but doesn't keep any strategic oil reserves.…

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