Essay On The Future Of The Energy Industry

Currently, the Canadian government is taking several initiatives to control climate change. In 2017, Canada signed the Paris Accord and agreed to cut 30% of carbon emissions by 2030.

The oil production in Canada has several significant issues that depict the destruction nature of the industry. These issues can be categorized as environmental, political, economic, and social. The environmental issues lead the pack; in that the environmental destruction associated with the industry is extensive. The environmental problems are climatic, land, water and air related (Best & Hoberg, 2015). Under climatic effect, studies indicate that the development of the tar sides has resulted to three times more greenhouse gases (GHGs) than in production of conventional oil. These environmental issues are caused by the composition of the tar sands. Unlike the convention oil, tar sands are a mixture of bitumen and sand. The process of separating the two results triples GHGs emissions when compared to conventional oil production (Koring, 2013).

Diverse and multi-faceted, the Canadian business market is one of the strongest functioning mixed market economies in the world. Within the Canadian economy, the oil and gas sector stands as one of the largest and most influential sectors. The oil and gas industry is unique as it affects almost every person and sector of the economy worldwide, whether it is through commodity or material input costs. In Canada, this growing industry could allow for the country to be the one of the “biggest energy producers in the world” leading to a massive paradigm shift globally.

Firstly, Canada itself is a foreign nation. In the attempt to close our doors to foreign dependency on oil, we are actually becoming even more dependent on solely one foreign nation. The amount of oil we will receive from Canada is a substantial amount since it will replace overseas imports on foreign oil. Instead of being more reliant on our own oil, we are only shifting focus to rely on another nation that is not in economic or political turmoil. Secondly, the Keystone Pipeline itself is an export pipeline. Canada will be using the pipeline in order to transport crude oil to refineries in the Gulf Coast. Once the crude oil reaches the Gulf Coast, refineries will refine the crude oil into diesel and export it to Europe and Latin America. We will not be dependent on these countries anymore for their oil, but we will be involved in the importing and exporting of oil. In fact, this will actually pull the U.S. into a greater involvement with these nations. According to Oil Change International, the only way that we can actually reduce our dependency on foreign oil is to reduce our dependency on all oil as a whole. Throughout history, our energy sources have been constantly changing, from steam, to coal, and now to oil. We are in need of a new energy source and one that is actually reliable. Once we attain it, we will no longer be dependent on oil.

Keystone XL is a oil pipeline system in Canada and the United States, this system was commissioned in 2010 and now owned by TransCanada Corporation. An increased amount of oil from Canada would mean a decreased dependency on Middle Eastern supplies. According to market principles, if availability of oil is increased, that means lower price for consumers. This will create almost 28,000 more construction jobs. The prospect of the Keystone XL pipeline being approved by the incoming Donald Trump administration will have little effect on Justin Trudeau's plans to get the oil to market. Keystone XL is a controversial issue because the different political parties have different opinions, the Conservatives and the Liberals both agree that yes, Keystone

The other adverse effect of the Canadian oil sands is that pipelines and massive processes of refining oil sands in Canada are a source of pollution that pose a great threat to air, water, and land as well as human health. Additionally, the use of its products like natural gas that is used to run medium-sized turbines that produce electricity releases greenhouse gases. These emissions are mostly produced when steam is injected to reduce the viscosity of the crude and during refining. These further increases to the global warming effect that is already out of hand and it also negates the gains made by society by exposing them to the adverse negative

Canada has the potential to be a “sustainable energy superpower” due to the vast amount of resources it contains. It has a large landmass and diversified geography which can be used to produce renewable energy from such resources; watermill, wind, biomass, solar, geothermal, and ocean energy. Renewable energy is energy obtained from natural resources that are able to be naturally replenished within a human lifespan (Natural Resource Canada, 2014). Currently, fossil fuel burning is the major source of energy in Canada and although it can be re-used, the process is so long that it is considered to be non-renewable. Also, fossil fuel burning for coal, natural gas, and petroleum gas pollutes the environment with greenhouse gases on a large scale, causing global warming. Non-renewable energy is taken from sources that re available on Earth in limited quantity, likely vanishing within fifty to sixty years from today (Conserve Energy Future, 2014). Thus, it is important for Canada to invest their money on resorting to more environmentally friendly and renewable ways to make electricity. Being a developed country, Canada has the financial stability to purchase the technologies over time in order to produce renewable energy. In addition, many organizations and the government have taken a step to educate the society about issues regarding energy usage, and to create programs which conserve energy for the future. In the future generations, Canada will be able to generate sufficient

Ontario has its own creative and effective strategies to combat climate change. One of Ontario’s goal is a low-carbon future. To accomplish this the province started making carbon reductions in 1990 and are on track to reduce carbon emissions by 15% in 2020, 37 per cent in 2030 and 80 per cent in 2050 (Climate Change Action Plan, 2017). Ontario’s target of reducing emissions by 6% was met on schedule in 2014 (Climate Change Action Plan, 2017). One of the reasons this has been made possible is because of Ontario’s investment in carbon reduction. For example, in 2015 Ontario committed $325-million payment to Ontario’s Green Investment Fund to support programs that help households and businesses implement

Caprica is a 40-year -old company rooted in Charleston, West Virginia area. First 30 years, it only operated in Kentucky and Ohio. Starting from 1997, Caprica carried on an expansion strategy to Michigan, and in 2005 it applied the hydraulic fracturing technology on shale gas exploiting. Up till now, Caprica already have five years experience on using hydraulic fracturing technology.

Despite of trump’s decision to rescind the north america free trade agreement that would cause pain to american businesses and workers, US-canada free trade deal goes back into effect. Thirty five american states,most in the northeastern industrial belt, have canada as their largest export market.canada has not been on trumps trade radar in the past. American economic self interest dictates its commerce with canada remain unencumbered. It follows that international corporations looking for a toehold in north america may soon find canada a useful port of call. Trump is also supporting canada in building keystone XL pipeline as that is considered to be a cleaner and safer mode of transporting crude than rail.

Suncor Energy Inc. is a company that was founded in 1967; it is Canada 's premier integrated energy company, and the fifth largest North American energy company. Suncor provides thousands of well-paid jobs, puts millions of dollars in Canadian businesses every year, takes action on environment issues and supports our communities by funding local initiatives. (Suncor Website, 2012) Suncor is leading the way in oil sands operations and development while investing in technologies to improve environmental performance. A considerable part of Suncor’s portfolio is invested renewable energy

According to the center for international climate and environmental research Canada ranks 5th in having the largest carbon, fossil fuel, land and water consumption footprint in the world. Keeping this staggering stat in mind a few Canadian companies have begun to reverse this trend and lean towards a more sustainable means of operation. On such company is the Canadian national railway company, more popularly known as CN.

and its minimal impact on the movement of Canadian Crude Oil in the United States. The Keystone XL pipeline has been delayed, but it doesn’t seem to have much effect on the supply of Canadian Crude which has only increased 64% since the Keystone XL project was announced. The article also tells on the alternative routes of transporting Canadian Crude into US via trains and also by existing pipelines, where the operators are finding out newer methods to move oil faster through these pipelines. Though in the long term, the writer feels that the Keystone project will be a cheaper and safer route. Other players like Enbridge Energy Partners LP who have existing pipelines are looking towards a capacity expansion which will provide the same capacity as the Keystone XL pipeline albeit at a much lower capex

(CNG) along with liquefied petroleum gas (LPG) is used as a clean alternative to other

Bangladesh is a terra firma of some natural resources such as oil, gas, coal, hard rock, white clay, boulder etc. Bangladesh being the prime delta in the world, serves as a decent pool of Natural Gas. Exploration activities are undertaken by Bangladesh Petroleum Exploration and Production Company Limited (BAPEX) and some International Oil Companies (IOC). Production activities are undertaken by Bangladesh Gas Fields Company Limited (BGFCL), Sylhet Gas Fields Limited (SGFL), BAPEX and some International Oil Companies (IOC).