Economy 52,889 Posted December 16, 2015 Share Posted December 16, 2015 http://www.financialpost.com/m/wp/blog.html?b=business.financialpost.com//fp-comment/piping-ever-more-petroleum-the-world-needs-canadas-oil-and-gas While the world is focusing on reducing Carbon emissions, clean electricity will affect mostly Coal not Oil. And even when cars go electric we will still use lots of oil for heavier transportation or other oil products! OPEC long term at best will only offset declines in other Nations and some OPEC Nations such as Saudi Arabia are exhausting their reserves at a rate in which a few years down the road, production will start to fall North America on the other Hand has more oil than anywhere else: US Shale: 2-3 trillion barrels Canada Oil Sands: 1.7-2.5 trillion barrels Canada Oil Carbonates: 500 Billion barrels While in Canada at this time 170 Billion barrels are considered extractible, and in the USA 40 billion... Technological improvements will keep unlocking more reserves and production in North America for decades to come will sustain world consumption!!!! Link to post Share on other sites More sharing options...
Luc 4,776 Posted December 16, 2015 Share Posted December 16, 2015 Yay? Link to post Share on other sites More sharing options...
Economy 52,889 Posted December 16, 2015 Author Share Posted December 16, 2015 12 minutes ago, Luc said: Yay? Lol if im happy its more National pride than anything else the part of Canada i live in doesnt really benefit from high comodity prices. If anything the higher currency we get when comodity prices are high puts pressure on our manufacturing sector (My Provinces main economic driver) Link to post Share on other sites More sharing options...
TiphEret 1,320 Posted December 16, 2015 Share Posted December 16, 2015 Economy and Oil - a modern love story Spoiler jking buddy, it's good we have someone informing us on that! Do you know any other sources of green energy that could potentially compete with oil? Or are they not developed yet? Sur le sable sur la neige, Sur les images dorées,Sur le front de mes amis, J’écris ton nom Link to post Share on other sites More sharing options...
Economy 52,889 Posted December 16, 2015 Author Share Posted December 16, 2015 20 minutes ago, TiphEret said: Economy and Oil - a modern love story Hide contents jking buddy, it's good we have someone informing us on that! Do you know any other sources of green energy that could potentially compete with oil? Or are they not developed yet? Well in time electric cars may be efficient enough to be cheaper than gasoline trucks and airplanes are unlikely to use anything other than oil fuels anytime soon though. Also the oil we use to make plastics, fertilizers, pesticides, asphalt, shingles etc will keep using oil Coal is likely to be outdated soon though because its the worst polluter of the fossil fuels and we have alternative forms of generating electricity now Natural Gas will have the greatest increase in consumption because its so cheap, aboundant, and cleaner than Crude Oil or Coal. Some Coal plants being shut down are being replaced by natural gas the way I see it for fossil fuels is this COAL: this fuel will have the greatest reduction in use Crude Oil: Gradually consumption will keep increasing until electric cars are mass produced. After that consumption will fall but stabalize because we will still use big amounts for other things Natural Gas: We will keep using it for heating and likely will be the only fossil fuel we will keep using for electricity. Theres lots of new Shale Gas reserves that are accessible now! We likely will use more natural gas than crude oil cause its cheaper, cleaner and very aboundant... But Crude Oil will be the hardest to remove if we wanted to because it has so many different uses while Natural Gas is mostly heating and Electricity Coal really needs to go tho. Its super toxic and we can peoduce electricity other ways easily now Link to post Share on other sites More sharing options...
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