The world needs energy. Lots of it. This need has positive implications for Canada’s economy because our country is uniquely positioned to provide safe and secure energy – all kinds of energy – to customers across North America.
Energy production, from oil sands to renewables, must increase to meet growing demand. However, with energy demand in developing nations increasing, renewables alone won’t keep pace. All sources of energy, including natural gas and crude oil, are needed.
Canada is the only OECD (Organization for Economic Co-operation and Development) country with growing oil production, which means more jobs and investment. For example, oil and gas currently provides jobs for 500,000 Canadians, and that number is expected to grow.
Read more about our industry's national economic contribution
Global Energy Needs
Global economic growth will require more energy of all kinds.
Energy supply mix:
- Increasing role for renewables
- Continuing reliance on oil and gas
- Declining conventional supply means increasing role for unconventional crude oil & natural gas
Source: EIA – International Energy Outlook 2009
(www.eia.doe.gov)
Canada’s Rank in World Energy
By most measures, Canada consistently ranks among the top 10 energy producers in the world. Our production exceeds domestic consumption and we are the largest supplier of oil and gas to the U.S. Canada has more stringent environmental regulation than many other suppliers to the U.S. and our policies and regulations continue to evolve.
The World Needs Energy
- Canada is uniquely positioned to provide safe, secure and reliable energy.
- Global demand for energy is expected to increase significantly, as economies in both developed and emerging countries continue to grow and standards of living improve.
- Access to conventional petroleum reserves is declining.
- Meeting increased demand will require an increasingly diverse energy supply base – conventional petroleum resources, unconventional crude oil and natural gas, alternative forms of energy – as well as improving energy efficiency across the economy.
- The challenge we all face is how to reduce GHG emissions while the demand for energy is increasing and we transition to lower carbon energy supply sources.
- This challenge will take a significant effort by all Canadians.