The Big Picture – World Energy Statistics Coupled with Canadian Oil and Natural Gas.

Posted: Jun 9, 2016

A wise man once said that you sometimes have to get out of the box in order to see inside the box.  As an energy industry that is currently going through some challenging times, we have to find ways to remove ourselves from the current situation in order to see the big picture.  After all, it wasn’t that long ago that our world energy industry was suggesting that we were running out of oil and prices could climb forever.  Oh how times do change.

Below are some very good stats pulled from the CAPP website that do a great job of putting things in perspective.  Looking at the big picture, or, getting out of the box to see inside the box in order to keep a proper perspective will always help us keep our eye on the ball and focused on the fundamentals of the future.

World Energy Statistics

image001

Global demand for energy is expected to rise by 33% by 2035 as economies in both developed and emerging countries continue to grow and the standard of living improves in the developing world. 

  • According to the International Energy Agency, the world will need to invest $48 trillion in energy supplies from 2013 to 2035. 
  • Meeting increased energy demand will require an increasingly diverse energy supply base – continuing reliance on conventional petroleum resources, unconventional hydrocarbons (oil sands, shale gas, natural gas from coal, etc.), alternatives (solar, wind, nuclear, hydro, etc.) – as well as improved energy efficiency across all sectors of the economy. 
  • “… fossil fuels continue to meet the bulk of the world’s energy needs …”

 

Canadian Oil and Natural Gas Statistics (2014)

  • 1.4 million barrels per day of conventional oil production
  • 2.2 million barrels per day of oil sands production
  • 14.8 billion cubic feet per day of natural gas production
  • $81 billion in capital spending
  • $17 billion in taxes and royalties paid to governments per annum
  • Oil and gas industry currently supports 500,000 jobs across Canada
  • Oil sands are forecasted to create 790,000 new jobs by 2038 (Canadian Energy Research Institute – 2014)
  • Oil and gas industry currently comprises about 12% of the Toronto Stock Exchange

Oil Sands CO2 Statistics

  • Oil sands industry contributes about 8.5% of Canada’s total GHG emissions
  • Oil sands industry accounts for just over 0.12% of global GHG emissions
  • Today oil sands fuel is around 9% more GHG intensive that the average crude oil consumed in the United States (IHS CERA)
  • On a well-to-wheel (lifecycle) basis, oil sands crude has a similar intensity to other heavy oils consumed in the United States (IHS CERA)
  • Emissions in 2013 were 62 megatonnes (Environment Canada)
  • Oil sands GHG emissions have declined 30 per cent per barrel from 1990 to 2013
  • Current Government of Alberta regulations require GHG emission reductions of 15% (from a year 2000 baseline average)

The statistics are from the International Energy Agency (IEA) and are current as of January 2015.

Information from
Canadian Association of Petroleum Producers