THE LATEST | CANADAPerrin Beatty and Fen Osler Hampson/The Globe and Mail: This is the moment when Prime Minister Mark Carney can lead to turn a crisis into a strategic response. Given Canada’s vast but still underdeveloped hydrocarbon resources, it is well placed to help allies manage some of the fallout from this conflict. And even if U.S. President Donald Trump backs off the U.S. campaign in the region and seeks an accommodation with Iran, as he said he is pursuing, the region’s underlying instability will remain; more disruptions are likely.
That is why Canada should take the lead in forging a new global energy security pact. This pact would marry European and Asian investment in Canada’s energy sector in exchange for a long-term commitment to provide assured supplies. It would be an alliance among trustworthy partners that would help insulate them against future disruptions. It would make Canada wealthier and stronger…