Canada Stunted By Eco-Fantasies

[Anonymous]

Global demand will continue to grow, but we will be shut out of supplying it thanks to True Dope.

Even the spread of alternative-fuel vehicles and increased energy efficiency won't quickly stop the growing international demand for oil, a speaker at an Edmonton energy symposium said Wednesday.



About five million electric and hybrid vehicles are expected to be sold this year, rising to 30 million cars, trucks and other vehicles in 2030, or approximately five per cent of the world's fleet, said Julie Afanasiff, senior vice-president of Sequeira Partners Inc.



This would cut oil consumption by 1.2 million barrels a day, or as much as 2.3 million barrels if these vehicles made up 10 per cent of the fleet, she told the audience at the event organized by her company.



Improving internal-combustion engines will likely eliminate the need for oil by a further six million barrels a day.



However, Afanasiff said analysts still see the demand for oil going up from about 100 million barrels a day this year.



Goldman Sachs predicts it will increase to 109 million barrels by 2030, the International Energy Agency sees it growing to 105 million barrels a day by 2040 and the U.S. Energy Information Administration expects 122 million barrels a day by 2050, she said.



"The consensus on that is we're unlikely to hit peak demand anytime before 2030 ... I think people believe there will be a decline at some point, but they're not sure when it will happen."



Rising populations and economic activity are the main reasons for higher oil consumption, although it's being tempered by switching to renewables and a continuation of the 30-year trend of using less energy to create economic growth, Afanasiff said.



Last week, a University of Waterloo expert on links between society, technology and nature urged Alberta to start shifting quickly out of the oilsands to avoid serious economic trouble as the world switches away from fossil fuels in coming decades.



Thomas Homer-Dixon said at a clean technology conference the province should focus on developing expertise in the renewable energy field as financial, legal and environmental pressures push countries to deal with climate change.



But Afanasiff said in an interview that a major shift into renewables will first require scientific innovations such as finding better ways to store wind power.



"At this point in time our thought process is there's a lot of technology that needs to happen before these areas are usable every day."



Current forecasts put the price of West Texas Intermediate oil between $52 and $56 (U.S.) a barrel next year, but with the price now about $55 (U.S.) those estimates could go higher, she said.



While Richard Spears of Tulsa, Okla., consultants Spears and Associates told the symposium his prediction has been for $50 a barrel oil in 2018, this figure was calculated last summer and he expects to boost it to about $60.



"We're drawing oil out of inventory every year ... I say there's a greater possibility to have an extremely high oil price, like $100, than an extremely low price like $30."

http://edmontonjournal.com/business/energy/even-with-electric-cars-world-oil-demand-expected-to-grow-for-years">http://edmontonjournal.com/business/ene ... -for-years">http://edmontonjournal.com/business/energy/even-with-electric-cars-world-oil-demand-expected-to-grow-for-years

[Anonymous]

Global demand will continue to grow, but we will be shut out of supplying it thanks to True Dope.

Even the spread of alternative-fuel vehicles and increased energy efficiency won't quickly stop the growing international demand for oil, a speaker at an Edmonton energy symposium said Wednesday.



About five million electric and hybrid vehicles are expected to be sold this year, rising to 30 million cars, trucks and other vehicles in 2030, or approximately five per cent of the world's fleet, said Julie Afanasiff, senior vice-president of Sequeira Partners Inc.



This would cut oil consumption by 1.2 million barrels a day, or as much as 2.3 million barrels if these vehicles made up 10 per cent of the fleet, she told the audience at the event organized by her company.



Improving internal-combustion engines will likely eliminate the need for oil by a further six million barrels a day.



However, Afanasiff said analysts still see the demand for oil going up from about 100 million barrels a day this year.



Goldman Sachs predicts it will increase to 109 million barrels by 2030, the International Energy Agency sees it growing to 105 million barrels a day by 2040 and the U.S. Energy Information Administration expects 122 million barrels a day by 2050, she said.



"The consensus on that is we're unlikely to hit peak demand anytime before 2030 ... I think people believe there will be a decline at some point, but they're not sure when it will happen."



Rising populations and economic activity are the main reasons for higher oil consumption, although it's being tempered by switching to renewables and a continuation of the 30-year trend of using less energy to create economic growth, Afanasiff said.



Last week, a University of Waterloo expert on links between society, technology and nature urged Alberta to start shifting quickly out of the oilsands to avoid serious economic trouble as the world switches away from fossil fuels in coming decades.



Thomas Homer-Dixon said at a clean technology conference the province should focus on developing expertise in the renewable energy field as financial, legal and environmental pressures push countries to deal with climate change.



But Afanasiff said in an interview that a major shift into renewables will first require scientific innovations such as finding better ways to store wind power.



"At this point in time our thought process is there's a lot of technology that needs to happen before these areas are usable every day."



Current forecasts put the price of West Texas Intermediate oil between $52 and $56 (U.S.) a barrel next year, but with the price now about $55 (U.S.) those estimates could go higher, she said.



While Richard Spears of Tulsa, Okla., consultants Spears and Associates told the symposium his prediction has been for $50 a barrel oil in 2018, this figure was calculated last summer and he expects to boost it to about $60.



"We're drawing oil out of inventory every year ... I say there's a greater possibility to have an extremely high oil price, like $100, than an extremely low price like $30."

http://edmontonjournal.com/business/energy/even-with-electric-cars-world-oil-demand-expected-to-grow-for-years">http://edmontonjournal.com/business/ene ... -for-years">http://edmontonjournal.com/business/energy/even-with-electric-cars-world-oil-demand-expected-to-grow-for-years

Oil and gas products areour biggest export by a wide margin. The US is building the infrastructure to handle  the growth and we are putting up roadblocks. The result will be a declining middle class in Canada.