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The Alberta Energy Regulator is urging pipeline operators to do a better job of developing and maintaining programs to discover leaks after it examined nearly two dozen spills over the last three years. (Daniel Acker/Bloomberg)
The Alberta Energy Regulator is urging pipeline operators to do a better job of developing and maintaining programs to discover leaks after it examined nearly two dozen spills over the last three years. (Daniel Acker/Bloomberg)

'Canada will not succeed' if energy sector declines, pipelines not built: RBC CEO Add to ...

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Royal Bank of Canada chief executive officer David McKay waded into the increasingly emotional national debate over the future of the country’s oil and gas industry Monday with a passionate speech in favour of innovation and growth in the domestic energy sector, and building new pipelines.

Canadians will see their standard of living fall and economy falter if industry executives, politicians, First Nations leaders and environmentalists cannot work together on developing the country’s oil and gas resources, Mr. McKay told the Edmonton Chamber of Commerce. It’s unusual for corporate leaders to take sides in issues that evoke strong, opposing passions among clients and shareholders, and the head of the country’s largest bank said he is “speaking out because Canada will not succeed if Alberta does not succeed, and Alberta will not succeed if its energy sector does not succeed.”

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