Net Zero World Seen Crushing Canada’s Oil Output 76% by 2050
Canada's oil production could fall by 76% by 2050 if the world takes sufficient action to limit global warming to 1.5C, while lower global oil demand and prices would cause the decline in oil production. Oil and gas account for as much as 7% of Canada’s economy and about a fifth of its goods exports
- Canada’s oil production could fall by 76% by 2050 if the world takes sufficient action to limit global warming to 1.5C.
- Output from the nation’s oil industry would face a less severe decline of 22% by 2050 if Canada achieves net zero by that date.
- Lower global oil demand and prices would cause the decline in oil production.
- Oil and gas account for as much as 7% of Canada’s economy and about a fifth of its goods exports.
- Majority of Canada’s crude production comes from the western province of Alberta.
Net Zero World Seen Crushing Canada’s Oil Output 76% by 2050
Canada’s oil production would plunge 76% in less than three decades if the world took sufficient action to limit global warming to 1.5C (2.7F), according to government projections released Tuesday, underscoring the challenges the country faces amid global efforts to curtail emissions.
Kevin Orland
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