How Canada Ranks vs. Other Major Global Energy Producers
The world will need oil & gas for decades to come. Who would you choose to supply your energy?
Oil & gas is more than just transportation fuel. It also provides:
- Fertilizer for our farms
- Medical products for our hospitals
- Thousands of other goods we all rely on daily
In other words, petroleum products underpin our modern-day lifestyle. Amid current global energy shortages, it’s clear the world needs more stable and responsible sources of supply.
The only winners in blocking Canadian oil & gas development and export infrastructure are other energy-producing jurisdictions.
But we don’t have to choose between supporting responsibly produced Canadian oil and gas or expanding renewables.
We must do both! Here’s why:
GLOBAL DEMAND IS GROWING
• Global oil demand is projected to grow to 104 million barrels per day by 2035, up by 4 million bpd compared to current levels.
• Global LNG demand is projected to grow 90% above 2021 consumption levels.
• The focus on Environmental, Social and Governance (ESG) leadership means the most sustainable producers, such as Canada, should be prioritized as suppliers of choice for the world’s energy needs.
• $26 trillion of new investment is needed for the oil & gas industry to keep ample supplies through 2050, even if demand does peak.
RECORD ON CLIMATE & ENVIRONMENT
• If minimal Canadian gas flaring standards were practiced worldwide, the global amount of GHG emissions from producing the average barrel of oil would drop by 23%.
• By using renewable electricity, Canadian LNG projects are expected to be among the least carbon-intensive facilities in the world.
• Canada’s oil sands sector has invested more than $9.3 billion in research and development since 2009 – notably higher than other major global oil producers on a per barrel basis.
• Oil sands emissions intensity has decreased 44% since 1995, and the Oil Sands Pathway to Net Zero is unprecedented among global oil producers.
• In 2019, Canada was home to approximately 40% of global oil production that was subject to carbon pricing.
SUPPORTING OUR COMMUNITIES
• Canada’s oil & gas sector has generated more than $500 billion in revenues for our governments since 2000.
• Canadian oil & natural gas exports were valued at $1.94 trillion between 1988 and 2019, creating immense wealth and prosperity for all provinces.
• Canadian oil & gas operators are a critical source of funding for our communities and social programs and are actively including Indigenous participation and promoting economic reconciliation.
CANADIAN ESG PERFORMANCE
Of the world’s top oil and natural gas producers/exporters, Canada ranks among the highest on the following Environmental, Social and Governance indices:
- Green Future Index
- Democracy Index
- Global Peace Index
- Rule of Law Index
- Corruptions Perception Index
- Global Press Freedom Index
- Sustainable Development Index
- Women, Peace, Security Index
- Yale Environmental Performance Index
- Social Progress Index
- World Bank Governance Index
With growing demand for oil & gas and an increasing global focus on sustainable supply chains, Canada is clearly one of the best choices for the world’s future energy needs.
Who would you choose to supply your oil & gas?