Danielle Smith says Iran war underscores need for new Alberta pipeline to the coast

The threat of shipping disruptions have seen global oil prices jump since American-Israeli attacks on Iran over the weekend.

Smith says any disruption in the Strait of Hormuz, a key oil choke point at the mouth of the Persian Gulf, only underscores the need for a new pipeline that could bring her province’s pivotal export to Pacific shipping lanes.

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Escalating Israel-Iran conflict puts Strait of Hormuz into focus

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She says if the uncertainty continues, it only demonstrates that the world and Canada’s trading partners need to have a stable source of supply.

Depending on how much market volatility is to come with one month left in the province’s current fiscal year, Smith says her government’s expected $4.1-billion deficit could shrink.

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Last week, her United Conservatives projected a $9.4-billion deficit for the coming year based largely on sluggish oil prices.

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Leaders around the world ‘blindsided’ by US-Israel strikes against Iran