If Canada manages to achieve its climate goals, it could become an absolutely crucial supplier of oil to the whole world. Fatih Birol, the head of the International Energy Agency (IEA), thinks so.
Canada is currently the world’s fourth-largest oil producer and could become a major exporter of black gold by the middle of this century. It wants to become a carbon-neutral country by 2050, which means, among other things, that it is unlikely to consume as much oil as it does today.
“Canada is among the oil-producing countries in the top league when it comes to tackling the climate challenge. And we should want its strategies to be implemented,” said IEA chief Fatih Birol. According to him, the rest of the world will still need oil and natural gas for some time to come.
And at that moment, there will be a great interest in these commodities in countries that are characterized by reliability, stability and the ability to deliver them with the lowest possible burden on the environment. That is why Canada can be considered a key global supplier of oil and gas in the near future.