We will need all forms of energy to meet the world’s growing energy needs. Canada is uniquely positioned to provide an abundance of safe, secure energy.
The world relies on an energy mix that includes oil, coal, natural gas, hydro, nuclear and renewables. All forms of energy production must increase to meet growing global demand. Canada is uniquely positioned to provide an abundance of safe, secure energy.
As long as we are using oil to power our lives and improve our quality of life, we must develop it in a way that benefits us economically and is environmentally responsible.
The International Energy Agency (IEA) forecasts that global demand for energy is expected to increase 31 per cent by 2040 as economies in both developed and emerging countries continue to grow and standards of living improve. Canada has the third-largest oil reserves in the world. Of the 171 billion barrels of Canadian oil that can be recovered economically with today's technology, 165 billion barrels are located in the oil sands.
Canada is one of the few countries in the Organization for Economic Co-operation and Development (OECD) with growing oil production. Continued to be managed properly, this means more jobs and investment is anticipated for Canada.