Unlocking Canada’s oil and gas industry

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Is Canada becoming an energy superpower?

Over the last few years, Canada’s status as a strong global player on the oil and gas stage has risen significantly. The ongoing development of the oil sands and the explosive growth of shale gas and tight oil productive capacity are already influencing the shape of the oil and gas market in North America. Canada’s bitumen production is poised to reach approximately 6.5 million barrels a day by 2025.

And recently, there has been discussion of Canada’s potential to achieve not just “a major North American producer status” but to become a global energy superpower.

The numbers suggest Canada has the potential to become a superpower. We rank third in global reserves in terms of strength in liquids and we have the technology to extract conventional and unconventional oil and gas to get it to global markets.

But having the resources and the technology is only part of the equation to being an energy superpower. It requires the ability to utilize your petro-strength to influence geopolitical events, thus having some influence over global hydrocarbon markets, possessing regulatory and environmental oversight systems to ensure longevity and sustainability to a fiscal system that encourages investment, financial capital and labour expertise to make it all happen.

As part of this year’s Canadian Energy Report, we asked globally respected industry policy analysts and leaders to provide their views on Canada’s potential and progress toward becoming an energy superpower.

The report will discuss four pillars to superpower status: price realization, external geopolitical influence, technological capacity and a stable domestic policy environment.

Download reports from previous years.