The world wants Canadian oil and natural gas, according to an updated international research survey by Ipsos, conducted on behalf of the Canadian Association of Petroleum Producers (CAPP).
In the 2019 Global Energy Pulse, a follow up to its 2017 survey, Ipsos found respondents from 31 countries chose Canada as their No. 1 oil and natural gas exporter among the world’s top 11 energy-exporting nations, CAPP said in a news release.
“The results of the Global Energy Pulse once again confirm that people around the world want oil and natural gas made the Canadian way. Our industry is proud that people around the world want more Canadian oil and natural gas, and believe their lives will be better for it,” said Tim McMillan, CAPP’s president and CEO.
“With oil and natural gas expected to make up 52 per cent of total global energy demand by 2040, there is an opportunity for Canada to take a leadership role in providing the world with the energy it needs.”
The survey also found that 70 per cent of Canadians prefer Canadian oil and natural gas to imports from other countries. And among those with an opinion, 52 per cent believe Canada’s energy is the safest and most responsibly produced in the world.
“The production and consumption of oil and natural gas has been used by foreign-funded activists and politicians to create division and confrontation, but the majority of Canadians are rejecting their tactics. They agree with the rest of the world: Canada’s oil and natural gas industry should play a major role in meeting global energy demand,” added McMillan.
“We need to put the policies and infrastructure in place to get Canadian oil and natural gas to the global market. We are leaders in environmental stewardship, responsible development and sustainability. We have high expectations of our industry and that is recognized both at home and around the world.”
Globally, 71 per cent and 52 per cent believe natural gas and oil, respectively, will meet future energy demand, and about 50 per cent of those with an opinion agree our lives are better today because of what oil and natural gas make possible, said CAPP of the survey.
CAPP cited the following statistics:
- the International Energy Agency’s 2018 World Energy Outlook anticipates natural gas demand will rise by 43 per cent by 2040 and account for 25 per cent of overall energy supply;
- CAPP’s 2019 Crude Oil Forecast, Markets and Transportation report estimates Canadian oil production will increase by 1.27 million barrels per day (b/d) to 5.86 million b/d by 2035;
- Canada imported 575,000 b/d of oil and 2.4 billion cubic feet per day of natural gas from foreign sources during the second quarter of 2019;
- of Canada’s total exports, 99 per cent of its oil and 100 per cent of its natural gas goes to the United States;
- Canada is home to the third-largest oil reserves and is the fifth-largest natural gas producer in the world.
CAPP represents companies large and small that explore for, develop and produce natural gas and crude oil throughout Canada. CAPP’s member companies produce about 80 per cent of Canada’s natural gas and crude oil.
Mario Toneguzzi is a Troy Media business reporter based in Calgary.