Article: “Canada to watch from the sidelines amid ‘extraordinary times’ in global energy markets”

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Two major trends are unfolding in global oil and gas markets, but Canada seems unable to take advantage of the first one, and is already an unfortunate casualty of the other, says a new report.

First, the world’s energy demand will rise the equivalent of China and India’s current energy consumption over the next three decades — but Canada has limited direct conduits to connect those energy-hungry markets to its store of the world’s third-largest oil reserves.

The second development, which has already dented the Canadian oilpatch, is the rise of U.S. tight oil and gas that is taking dollars and focus away from the Western Canadian industry.

The global energy markets are in the midst of “extraordinary times”, writes Fatih Birol, executive director at the International Energy Agency in its annual World Energy Outlook, launched in Paris on Tuesday.

The benchmark report notes that with renewable energy technologies nipping at the heels of oil, natural gas and coal and a global push by policymakers to cut carbon emissions, juxtaposed with near-insatiable demand from a global population that will hit 9 billion within a few decades and the rise of the U.S. as the world’s largest oil and gas producer, the energy sector is experiencing disruptive times.

Amid these upheavals, Canada will likely remain a minor actor, its global plans dashed partially through self-restraint and rules, and also by its next-door neighbour who is upending global markets and disrupting Canada’s plans to export oil and gas in the process.

 

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  • Millie_Woods

    Looks like we can kiss the Kitimat LNG terminal goodbye too.

    http://www.washingtonexaminer.com/trump-oversees-major-natural-gas-deal-between-alaska-china/article/2640134

    Canada, working to Make America Great Again since October 19, 2015.

    • Bla Bla

      Looks like any sort of mining or energy exploitation industry will soon be dead. By extension, our socialist utopia will also come crashing down around our ears (which might not be such a bad thing afterall if it forces our ‘guests’ to look elsewhere for a free lunch)….

  • Bla Bla

    lol

    Pretty easy to see that our wonderful environmentalists are really foreign paid trolls, saboteurs, and traitors who are destroying are capability to exploit and sell our resources – and there by making us poor and ripe for takeover by external interests which have no need to ensuring our rights and freedoms into the future…

    • just_one_Sewer Rat_guy

      Excellent comment!

  • mauser 98
    • Bla Bla

      and that’s on a good day!

  • just_one_Sewer Rat_guy

    And we can thank every idiot who voted for trudeau and notley, and every lunatic in BC that thinks that they will be swimming in neck deep oil province wide if they allow a pipeline.

  • Exile1981

    What’s the point of oil going above 60 or 70 a barrel when there is no way to get it to market.

    I noticed that there is a bunch of brand new oil tankers traveling on the CP main line lately though.

  • WalterBannon

    trudeau is a treasonous douche who should be sentence to the gallows

  • canminuteman

    The only consolation is that the oil isn’t going anywhere. It will still be there in the future, and if there is still a Canada our grand kids can use it.