Finance Minister François-Philippe Champagne says Ottawa’s energy infrastructure investments are meant to support Canada’s shift to electrification and next-generation technologies.
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Finance Minister François-Philippe Champagne says Ottawa is investing in energy infrastructure to build a foundation for the new technologies expected to power Canada’s future economy.
Speaking to a group of business people in Halifax, Champagne said history shows economies with abundant energy resources tend to do better over the long term.
He said the world is moving toward electrification across much of the economy, including transportation, manufacturing and industrial sectors.
Champagne pointed to growing interest from artificial intelligence companies in recent months, saying they are looking to spend billions building energy-intensive data centres that can take advantage of Canada’s resources.
He also noted volatility in financial markets, saying stock markets will fluctuate while emphasizing that investing in energy fundamentals is key to sustaining demand and economic benefits.
“When you invest in foundational pieces like energy, you cannot be wrong because energy will be key to power our economy for now and obviously the future,” Champagne told reporters following the event.
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