Global energy demand will increase, driven by growing economies and improving living conditions in Asia, particularly China and India. With Canada’s oil sands projected to increase supply by more than 1.5 million barrels per day by 2030 (CAPP, 2016), Canada has an opportunity to become a supplier of choice to these emerging markets, while generating long-term economic benefits and prosperity for Canadians. Exporting oil overseas has the added benefit of diversifying markets and ensuring Canada gets fair market prices for its oil.
Why pipelines to Canada’s West Coast are needed
Growing oil production in Canada matched with growing energy demand in Asia gives Canada an opportunity to become a supplier of choice to new markets.