2017 Canadian Energy Visions - who's in charge

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In the wake of changing fundamentals in the energy industry and increasing geopolitical uncertainties, it's becoming more difficult to assess who's in charge - Swing producer Saudi Arabia or the States? Government or groups? Carbon or capital?

In our eighth annual Energy Visions report, we take a look at the various factors competing for a voice in and share of the global energy market. Canadian energy CEOs and expert industry analysts provide insights on the market's current state and recommendations on how Canadian companies can take charge in the face of market uncertainty.

Key findings

- The trajectory of US shale supply, thus far is highly dependent on prices and is primarily reactionary to the actions and decisions of Saudi Arabia and core OPEC members. However, extreme price volatility and the very existence of a new significant source of non-OPEC supply coupled with geopolitical risks mean there's no singular driver of the global oil market at the moment.
- With so much out of control for Canada in regards to oil prices, producers must focus on things they can control: driving down costs, improving efficiency, continued investment in R&D and developing a strong innovation culture.
- Collaboration between government and industry is key to supporting sustainable resource development. Governments must set clear standards and regulations to decrease political risk and create an environment that is attractive for investment. They can also assist in bridging the dialogue between industry and community stakeholders.
- Market forecasts predict global oil and liquid-hydrocarbon demand to increase steadily over the next two decades, leaving Canada in a relatively good position to compete for long-cycle capital globally.

Companies that focus on satisfying basic business and supply/demand patterns and fundamentals will be well positioned to survive market volatility and succeed in this ever-evolving industry.

Contact us

Reynold Tetzlaff

National Energy Leader
PwC Canada

Tel: +1 (403) 509 7520

Matthew Wetmore

EUMI Industry Leader, PwC Canada

Tel: +1 403 509 7483

Calvin Jacober

Calgary Managing Partner, PwC Canada

Tel: +1 403 509 7531

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