New report on Canada’s Energy Future: Supply and Demand Projections to 2040 — the first long-term energy outlook from the Canada Energy Regulator (replacing the National Energy Board) cer-rec.gc.ca/nrg/ntgrtd/ftr…
#CdnEcon
#CdnEcon
Key Findings of this report:
1. Energy use grows slowly in the next 20 years.
Energy use per person is expected to decline by 16% by 2040, while energy use per dollar of GDP is expected to decline by 29%. #CdnEcon
1. Energy use grows slowly in the next 20 years.
Energy use per person is expected to decline by 16% by 2040, while energy use per dollar of GDP is expected to decline by 29%. #CdnEcon
2. The mix of energy sources that Canadians use will continue to change over time:
Increasing shares for:
- Natural gas
Falling shares for:
- Coal and oil products
Increasing shares for:
- Natural gas
Falling shares for:
- Coal and oil products
....From 2018 to 2040, crude oil production is expected to grow by ~50%, to around 7 million barrels per day, led by in situ oil sands production.
Natural gas increases by over 30%, to around 21 billion cubic feet per day, led by tight and shale production.
#CdnEcon
Natural gas increases by over 30%, to around 21 billion cubic feet per day, led by tight and shale production.
#CdnEcon
...Crude oil available for export grows from 2.2 MMb/d to 6.2 MMb/d by 2040.
Rising share of renewables:
In 2005, wind and solar made up 0.2% of Canada’s total energy generation. Now they make up 5%, and that share is expected to grows to ~10% by 2040.
In 2005, wind and solar made up 0.2% of Canada’s total energy generation. Now they make up 5%, and that share is expected to grows to ~10% by 2040.
Relative to past projections, total fossil fuel demand is now expected to be lower throughout the forecast.
