Canadian energy dilemma and policy direction
July 13, 2020 09:57 Source: "China Social Sciences", July 13, 2020, No. 1965 Author: Tian Huifang

Canada has rich oil and gas resources,It is currently the fifth natural gas production country in the world、The sixth largest crude oil producer、The third largest hydraulic producer and tenth largest renewable energy generation company,Occupying an important position in the world energy system。But the development of the Canadian energy industry is facing certain problems,From the middle and long term,Its energy production prospects are not optimistic。How to achieve a balance between energy transformation and economic growth,and through formulating better national strategic and regulatory policies to help the country succeed in global energy transformation,It is a question that Canada needs to consider carefully。

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Canada's proven oil reserves of about 179 billion barrels,ranked third in the world; the proven natural gas reserves are about 2.2 trillion cubic meters,According to the current mining speed,It can be used for mining for more than 200 years。According to the "Canadian Energy Future (2019): The Report on Energy Supply and demand in 2040" reported by relevant energy regulatory agencies,In the next 20 years,Canadian crude oil production will increase by nearly 50%,reaches about 7 million barrels per day; while driven by the growth of LNG exports,Natural gas output will increase by 30%。But from the current situation,The medium and long -term development of Canadian energy production faces four major crickets: high mining costs and low prices、Insufficient pipeline capacity、A single and larger greenhouse gas emission reduction pressure in the energy export market。

From the perspective of crude oil reserves and mining,More than 95%of Canadian crude oil reserves are oil sand,The cost of mining is much higher bet365 Play online games than the cost of $ 27 per barrel of oil per barrel,Even the cost of $ 65 per barrel of shale oil。2019 Canadian oil daily output is 4.36 million barrels/day,Saudi Arabia、Russia and Nissan more than 10 million barrels。

From the perspective of the construction of oil and gas pipelines,As of February 2020,There are nearly 50,000 miles of oil and natural gas pipelines in the world are under construction,Among them, more than 37,000 miles in the United States,accounts for about 75 %; the share of Canada is less than 2000 miles,Only 4 %。The proportion of natural gas exported by Canada through pipeline exports in the global market has decreased from 9.3 % in 2014 to 8.4 % in 2019; the share of the United States increased from 5.1 % in 2015 to 8.8 % in 2019 in the same period.,Russia has increased from 20.4 % to 23.2 %。It is estimated,If Canada cannot improve the ability to export oil and natural gas through pipelines,From 2023,The government and related producers will suffer more than 9 billion Canadian dollars every year。

From the perspective of energy trade,Unique geographical location、Energy Resource endowment and industrial policy impact,The United States and Canada have formed a close mutual supply relationship。More than 90 % of Canadian crude oil exports are facing the US market,and affected by oil quality and pipeline capacity,Petroleum prices (WCS) in Western Canada only have 20%-50%of US crude oil prices。This means American buyers who have mastered Canadian oil and gas,Canada does not make full use of its energy resources。

Look at the pressure reduction pressure from greenhouse gas,Although the Canadian greenhouse gas emissions have declined since 2000,But because fossil fuel emissions account for more than 80 % of the country's total emissions,Canada is facing further emission reduction pressure。The newly introduced "2019 National List Report" display,2017-2018,Canadian greenhouse gas emissions increased by 2 %,Only Bet365 lotto review achieved its promise of 2030 targets (reduced national emissions to 30 % of the level of 2005).。

May 2020,Norway Central Bank Investment Management Company (NBIM), which manages the world's largest sovereign fund, announced that it will no longer invest in four large oil sand companies in Canada,The reason is that these petroleum companies are too high in greenhouse gas emissions every year。Shell、Congene Petroleum and other well -known international investors constantly reduce holding Canadian oil and sand assets。Current,Facing the problem of energy transformation all over the world,Relevant changes require the Canadian oil and gas industry to make strategic adjustments。

  Develop a policy framework to meet new needs

December 2016,Canada released the "Framework of Clean Growth and Climate Change in Canada",This framework contains more than 50 action plans across the country and economic departments,It aims to provide guidelines and reference for the formulation of local energy climate policy。At present, the provinces in Canada have formulated a climate and energy strategy that meets their own needs,Including the climate leadership plan of Alberta (also known as Alberta Province)、Saskatchewan Province's climate change strategy、The climate and green plan of Manitoba Province、Slow climate change and low -carbon economic law in Ontario、Quebec's overall plan for 2018-2023,and 2030 energy strategy in the Northwest region。This framework mainly involves the following five aspects。

First,Carbon pricing。This is the core of the framework,It requires the province to flexibly design its own pricing system,Make sure carbon prices have gradually increased from $ 10 per ton in 2018 to $ 50 per ton in 2022。

2,Promote the development of renewable energy and clean power generation。The Canadian government announced in November 2016 that it will gradually eliminate all traditional Bet365 lotto review coal -fired generators by 2030,And promised to invest $ 100 million for deployment and demonstration for smart grids。At present, most Canadian provinces have developed a clean power production plan,Including new energy efficiency regulations in British Columbia、Auction Plan for Renewable Energy in Alberta Province、Quebec's new energy policy and action plan, etc.。

third,Improve energy efficiency and implement the R & D strategy of zero -emission vehicle (ZEV)。March 2017,The Canadian government has released a draft regulations revised to implement heavy vehicle emission standards,All provinces have also started the clean energy vehicle incentive plan。For example,Quebec province proposes a draft regulations for determining the standard of zero discharge years,and set the target to the 10,000 vehicles in 2020。

Fourth,Increase infrastructure investment,Enhance climate adaptability。The Canadian government launched the "Investment in Canada",Provide 9.2 billion Canadian dollars to all provinces and regions,Supporting climate adaptation and recovery project。other,There is also a $ 16.35 million transport asset risk assessment plan。

Fifth,Support clean technology innovation and product export。The Canadian government allocated $ 14.5 million to formulate a clean technology data strategy,It also lists the "Cleaning Technical Table",The target is to double the export value of the clean technology industry by 2025,Make it one of the five major export industries in Canada。

But in the energy field,Different from other countries,Canada establishes a hidden competitive federal system。Each province formulates its own energy policy,and have constitutional jurisdiction over its territory of natural resources and power; the federal government's management of the energy market is mainly reflected in its inter -provincial and international trade and business activities (including Bet365 app download foreign investment)、International Treaty Formulation、Taxation and the jurisdiction of energy development of offshore and border areas。Therefore,From the perspective of the regulatory system in Canada,It has a relatively decentralized jurisdiction on energy problems。Under this arrangement,There are often different interest differences and conflicts between the state and the province,Policy coordination is difficult,It is also the lack of a unified national energy strategy in Canada、Energy Development 桎梏 The root cause of it is difficult to solve effectively。

  Focus on balanced energy transformation and economic growth

The "shale revolution" in the United States has greatly changed the energy pattern of North America,The United States is not only the largest customer in Canada,It has also become its biggest competitor。Uncertainty of Canadian energy policy and the continuous opposition of the Aboriginal people to resource development projects,It is threatening the competitiveness of Canada in the field of oil and gas。At the same time,major changes in the global energy market,Energy demand begins to transfer to Asia,and geopolitical factors continue to bring risks to the energy market,At the same time, climate change triggers global decision makers、Wide attention of investors and enterprises。Reduce the uncertainty of the oil market、Continue to promote energy transformation、Promoting the diversification of oil and natural gas export markets、Enhance competitiveness、Looking for a new growth point,It is expected to become a focus point in the future energy policy of Canada。

Introducing the Economic Stimulation Plan,Reduce short -term uncertainty risk。In order to support the energy service company that supports the most affected by the economic recession,The Canadian government has announced in April 2020 that it has allocated funds to multiple provinces,Used to clean up abandoned bet365 Play online games and "orphan" oil and gas wells,Develop green energy project。It also set up a 750 million Canadian emission reduction fund,Help solve the funding problems faced by some oil companies。Canadian Commercial Development Bank also issued policies,Provide energy companies with a commercial loan worth 15 million to 60 million Canadian dollars。

Continue to promote low -carbon transformation in the energy industry。The focus of the Canadian government in the future may include continuous implementation of carbon pricing system,Formulate and finalize various regulations、Policies and plans,Including power grid interconnection、Cooperation strategies in architectural specifications and zero -emission vehicles and start new plans to support adapting to climate change,Promote green infrastructure investment,Accelerate the participation of clean technology innovation and ensure effective cleaning technology investment。

Increase pipeline infrastructure investment,Make market channels more diversified。The improvement of the development capabilities of the Canadian oil and gas industry urgent policy support,In particular, it is necessary to transfer the Canadian oil and gas market to pipeline construction policy outside the United States。Canadian Prime Minister Trudeau has clearly said,I hope to complete the cross -mountain pipeline expansion project as soon as possible,transport crude oil and natural gas to the market outside the United States,To this end will consider inviting representatives from Alberta and Saskatchewan to join its cabinet,in order to fully take into account the policy needs of oil provinces in the western part。

Enhance economic innovation。The Canadian government has invested nearly 50 million Canadian dollars to support technological innovation in oil and natural gas industries,The provinces have also increased their investment in cleaning technology bet365 live casino games within their own jurisdiction。For example, British Columbia has established an innovative clean energy (ICE) fund, etc.,Quebec will promote the export of cleaning technology as a priority area for the province's export strategy from 2016-2020。Many major energy manufacturers in Canada have also begun to develop downstream of the energy ecosystem,Some companies are still trying to develop hydrogen fuel cell technology。

(Author Unit: Institute of World Economics and Political Research, Chinese Academy of Social Sciences)

Editor in charge: Cui Cen
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