To me the energy transition is happening and you need to embrace it and be a part of the solution,

Ana Villarreal-Escudero TC Energy Corporation’
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In recognition of his leadership in the protection of Canada’s marine and terrestrial life, we are pleased to present Prime Minister @JustinTrudeau
of Canada with the Planetary Leadership Award.

Today’s Headlines

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Main Headlines:

Ontario, Alberta face a growing split as economic interests diverge over fossil fuels

Ontario’s industrial, financial sectors will reap benefits from move to green energy

The people in charge of investing your money for the long term are in the throes of a wrenching internal conflict that is reshaping Canada and the world.

While new federal incentives for low-carbon investment as part of a COVID-19 recovery play a part, those in the know say the private sector is already embroiled in its own painful energy investment transition.

Part of the agony of the split in this country is that it inflames the long-term political fault line between those regions that depend on the oil and gas sector for their livelihood and those that don’t.

Sophisticated new analysis shows that the interests of the fossil fuel-based economy so important to places like Alberta no longer coincide with the well-being of the country’s centres of finance and industry, principally — but not only — in Ontario.

A changing mood in Ontario

As French energy giant Total adds its name to the list of companies expecting oil demand to peak in a decade as electricity use doubles, finance specialist Ryan Riordan sees a changing mood within the Ontario investment sector and within the Ontario government, which so recently fought an election against carbon pricing, low-carbon energy and the green transition.

“I think particularly the provincial government is at an inflection point,” Riordan, associate professor of finance at Queen’s University in Kingston, Ont., and author of a new research-based report for the Institute for Sustainable Finance, said in a phone interview last week.

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World News

How would an accelerated energy transition impact natural resource demand?

Every year, we publish our Global Energy Perspective to help our clients understand the implications of the energy transition. The perspective builds on our Reference Case, which captures our view of how energy demand will evolve over the next few decades. However, it is challenging to project the speed with which the transition will take place and the magnitude of the resulting shifts in our energy systems, as these shifts are inherently complex and can be affected or reinforced by other shifts. To account for a world in which the energy transition occurs faster and to a greater degree than in our Reference Case, we have developed this outlook, which reviews the impact of eight potential shifts that could further accelerate the energy transition.

5 Key Findings

  • In an accelerated transition, oil demand could peak before 2025
  • An accelerated transition leads to emissions to decrease by 1.1% per year
  • Gas demand grows to 23% of global energy supply in 2050 as its role in the energy system remains stable
  • Fossil fuel demand is disproportionally large compared with power demands increase.
  • In our accelerated transition, coal demand will decrease rapidly.

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