Atlantica Centre For Energy

A Global Vision for the Future of Canadian Oil and Natural Gas


Category: News
Posted by: atlanticaenergy

Report: A Global Vision for the Future of Canadian Oil and Natural Gas

The future of Canada’s oil and natural gas industry is important to all Canadians, in all regions of the country, and for all types of businesses or organizations.  Whether directly or indirectly linked to Canada’s oil and natural gas industry, you will recognize the significant economic contribution we make to the country.  Investing more than $40 billion annually, we are the largest private sector investor in the country.  

 
In Atlantic Canada alone, our industry provides more than 20,000 jobs, paid over $900 million in royalties in 2017 to the governments of Newfoundland and Labrador and Nova Scotia and supports more than 600 supply and service companies.
 
So whether you depend on our industry for jobs, to help manufacture your products, to get your products to market, get consumers to your stores or businesses or help move Canadians to and from work, or depend on the government to provide health care, education and social services, our vision of the future of Canadian oil and natural gas is important to you. 
 
This report looks ahead at a carbon-constrained future in which Canadian oil and natural gas can thrive under the right conditions. It addresses significant issues facing industry today such as competitiveness, market access, climate and innovation, and benefits to all Canadians and our Indigenous peoples.
 
There is a place for Canadian oil and natural gas in the future global energy mix but only if industry and government work together to strike a balance between environmental stewardship, energy security, and prosperity for all Canadians. 
 
The key issues addressed in our report include:
  • The Future Energy Mix – Canada’s role to help meet the future global energy demand as the world’s population grows to 9.8 billion people by 2050.  While renewable energy will play a larger role in the future energy mix, oil and natural gas will continue to account for 52 per cent of total energy demand.
  • Climate Leadership and Innovation – Innovation and the adoption of cost-effective clean technology will ensure the future of sustainable development of Canadian oil and natural gas. 
  • Market Access – There is an opportunity to supply the world with Canadian oil and natural gas but without access to emerging markets, a streamlined regulatory system, and a competitive tax structure we risk losing capital to competing jurisdictions.
  • Benefits – All Canadians benefit from a healthy and robust oil and natural gas industry. In 2015 the energy sector contributed more than $160 billion to the country’s gross domestic product, created more than 640,000 jobs, and invested $3.3 billion in 396 Indigenous businesses in 66 communities.
  • Competitiveness – Competition for global capital investment is strong in other jurisdictions such as the United States, and competes with Canada for the same traditional markets. Although the U.S. is Canada’s largest customer, it has now become our largest competitor. 
Canada is poised to become one of the world’s most sustainable energy suppliers at a time when environmental stewardship and responsible development are needed the most. In order for our oil and natural gas to be part of the global future energy mix, we must urgently address the challenges facing industry today. 
 


 

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