CBTU believes in energy independence for North America and supports oil sands and other hydrocarbon developments in Canada.
We also believe that Canada needs a national energy policy based on a serious debate over the mix of energy resources that best serves our needs. As Canadians we need to decide how to balance hydrocarbon production with hydroelectric, natural gas, nuclear, wind, solar and thermal energy from sources across the country.
As energy users, we need to strive to reduce greenhouse gases and come to terms with sustainability issues. We also need to be mindful of the fact that this is a cold country with a small population spread over a vast area, and that we are therefore energy dependent.
- Canada is the fifth largest energy producer and has the third largest crude oil reserves, after Venezuela and Saudi Arabia.
- The oil and gas sector is the largest private investor in the country.
- The sector supports 550,000 jobs (direct and indirect) across the country.
- Worldwide demand for energy is expected to increase by 35% between 2011 and 2035.
- Canada’s oil sands are expected to create 905,000 new jobs between 2011 and 2035.
- Canada produces approximately 3 million barrels and consumes 1.6 million barrels of oil a day.
- Crude oil meets approximately 40% of Canada’s energy needs.
- Canada produces approximately 13.7 billion and consumes 7.9 billion cubic feet of natural gas a day.
- Natural gas meets approximately 30% of Canada’s energy needs.
Source: Canadian Association of Petroleum Producers