Canada’s Greatest Export Terry Etam, author of The End of Fossil Fuel Insanity: Clearing the Air Before Cleaning the Air, columnist for the BOE Report and writer for Public Energy Number One, gives an update on the oil and gas activity north of the border.
Canada's oil production, particularly from Alberta’s oil sands, plays a crucial role in both domestic and global markets. As of recent data, Canada’s crude oil exports are increasingly important to U.S. refineries, making up a significant portion of U.S. crude imports.
However, Canada's oil and gas production faces shifts due to technological advancements, market dynamics, and evolving policies that aim to reduce reliance on fossil fuels.
Canada is engaged in carbon management and emission reduction initiatives as part of its climate goals. The country has been investing in cleaner technologies and exploring carbon capture and storage methods.
While these efforts are aimed at mitigating the environmental impact of its oil and gas industry, challenges remain in balancing economic growth and sustainability.
Canada is rapidly expanding its role in artificial intelligence (AI), particularly in cities like Toronto, Montreal, and Vancouver, which are home to leading research hubs.
The growth of AI-driven industries has also fueled the rise of data centers, which support the technology's needs. These centers demand large amounts of energy, often sourced from both renewable and non-renewable sources.
During Donald Trump's presidency, tariffs imposed on Canada, particularly on steel and aluminum, strained trade relations. Although the tariffs were later lifted, they still had lasting effects on certain sectors, particularly manufacturing and export-driven industries.
Canada's oil and gas sectors were indirectly impacted, as the tariffs raised the cost of energy infrastructure projects and disrupted supply chains, delaying some development efforts.
Etam also is wearing a Nine Inch Nails t-shirt, which prompts host Jason Spiess to ask him whether “Broken” or “Downward Spiral” is a better album.
Read more insightful analysis from Terry Etam here, or email Terry here.
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