Inefficient policies and lack of market access are standing in the way of Canada meeting global energy demand CAPP
7he world’s thirst for energy is on the rise and Canada has an opportunity to meet the growing global demand for energy in an environmentally and socially responsible manner, but only with effective regulatory policies and increased market access, according to Canada’s 5ole in the :orld’s )uture (nergy 0ix, the second in a series of economic reports released by the Canadian Association of Petroleum Producers CAPP . 7he International (nergy Agency’s :orld (nergy 2utlook 01 anticipates the demand for all forms of energy ± oil and natural gas as well as renewables and nuclear ± will continue to increase as the global population grows to . billion by
0 0. (merging economies and urbani]ation in countries such as India, China and throughout Southeast Asia, along with rising gross domestic product, will increase total energy demand by 0 per cent from today.
Although the world’s energy mix is changing, oil will continue to grow and be the predominant energy source to 0 0, while natural gas production grows to become the world’s second-largest energy source overall, both essential to the development of emerging economies.
Canada has an opportunity to become the world’s energy supplier of choice -- serving global markets with responsibly produced energy that displace production from countries with poorer environmental performance.
7his can only be achieved if Canada’s oil and natural gas industry remains competitive -- attracting investment, spurring innovation, and gaining access to global markets to leverage our leadership position in environmental stewardship and responsible energy production.
CAPP wants the federal government to help define Canada’s vision for the future of oil and natural gas to meet the world’s growing energy needs. 7his vision includes
Collaboration between industry and government to create an effective policy and regulatory environment that encourages investment and access to world markets Cultivating support among Canadians for the responsible development of our natural resources and,
Adopting environmental policies that compete favourably with other Murisdictions, encouraging the types of innovation and investment that grow our brand as the global energy supplier of choice.
Canadian Association of Petroleum Producer president and C(2, 7im 0c0illan, said, “A healthy oil and natural gas sector creates Mobs and prosperity for Canadians, but the positive impact of our energy industry on the global stage could, and should be, broader.
It’s time to be realistic about Canada’s future. :e have an opportunity to be a global supplier but we are limiting our opportunity to meet global demand with policies that constrict future growth.”
7he demand for oil and natural gas will continue to play a significant role in the future energy mix and Canada could be the supplier of choice, but only if we take steps today to ensure our competitiveness for the future.”
Canada has an opportunity to ensure growing energy demand will be met by the most responsibly produced fuels possible. +owever, government costs and regulatory barriers are on the rise ± making it harder to grow our industry and support employment for Canadians.”