Canada is gearing up for the Council of the Federation, which is three days of meetings that will take place in St. John’s. The major talking point will be the Canadian Energy Strategy. The countries top policy provincials and territorial leaders have crafted the strategy, and it’s a plan will determine the future of the oil, gas, and electricity in Canada.
According to The Globe and Mail, “Alberta and other oil-producing provinces are counting on the strategy to help them build more pipelines, get their resources to market and expand overseas exports.” The strategy may also include an agreement that promises all provinces and territories do their part to combat climate change, but The Globe and Mail claims they’ve obtained a confidential draft of the strategy, and there’s very “little concrete action on climate change.”
Canada Still Leading the Battle Against Climate Change
Despite the reported lack of climate change action in the Canadian Energy Strategy, Canada is still a world leader in low and zero emissions energy. Canada receives 79 percent of its electricity supply from non-greenhouse gas emitting sources, and it’s the third largest producer of hydroelectricity, according to the Canadian government’s official Climate Change website.
18 percent of Canada’s energy comes from renewable sources, such as wind turbines, solar panels, biomass, and geothermal technologies. Nuclear electricity provides 14.5 percent of the country’s electricity, which is far better than coal-fired electricity, which contributes to huge amounts of greenhouse gases per year.
Cashing in On Carbon Capture and Storage
Canada has innovated a unique way to capture carbon and store it for research. In the last seven years, the country has spent more than $580 million to capture and store carbon. The money spent was a worthwhile investment when you consider the country’s been able to lessen the amount of CO2 emissions and turn a profit by selling carbon.
Pipeline Approvals and Canadian Energy
Canada’s petroleum industry is hopeful the Canadian Energy Strategy will result in pipelines, which will significantly impact the financial growth of the country’s oil sands. It could result in huge profitability for the petroleum industry, or it could prove not to be a worthwhile investment.
ResourceWorks.com reports that the oil industry may be in decline, and that in four years that decline will be noticeable by all. Petroleum is not a renewable energy source, and therefore its production capacity is limited. It’s widely believed that markets currently relying on Canada’s petroleum industry, such as Quebec and the U.S. east coast, will begin looking for renewable energy sources when the decline hits.
Choosing Energy in Canada
Some residents of Canada have options when it comes to choosing their energy sources. Those of you who live in deregulated markets will find your energy suppliers are able to compete for your business, which results in more renewable options as well as lower price points.
In Alberta, no single resident has to conform to a dominate energy source; instead, there are options available to everyone. Residents can choose based on price or based on renewable options, or an amicable combination of both. Shop at Alberta power and compare suppliers to ensure you end up with the absolute best deal.
Despite being a leader in renewable energy sources and the battle against climate change, Canada is still a major energy consumer. Shrink That Footprint, an independent research group dedicated to reducing carbon footprints, reports that the average Canadian household uses twenty times the energy of the average Nigerian household, and “two to three times more than a typical European home.”
Hopefully, the discussion surrounding the Canadian Energy Strategy tackles consumption and climate change. If so, Canada will continue to rein as world champ in reducing energy consumption and providing cleaner energy solutions.