Search results
- Higher crude oil and mineral prices combined to drive up the value of Canada's natural resource assets in 2021. Overall, the dollar value of selected natural resource reserves totalled $1,444 billion in 2021, a 149% increase from 2020. This increase came following a 30% decline the previous year during the COVID -1 9 pandemic.
www150.statcan.gc.ca/n1/daily-quotidien/221114/dq221114d-eng.htm
People also ask
How did oil prices affect Canada's natural resource assets in 2021?
How much did Canada's natural resources increase in 2021?
How did Canada's oil & gas industry perform in 2021?
Why did oil and gas prices rise in 2021 & 2022?
Nov 14, 2022 · Higher crude oil and mineral prices combined to drive up the value of Canada's natural resource assets in 2021. Overall, the dollar value of selected natural resource reserves totalled $1,444 billion in 2021, a 149% increase from 2020.
- NRAA
Asset accounts are one of the main elements of the United...
- Oil and gas extraction, 2021
In 2021, Canada's oil and gas extraction companies reported...
- NRAA
Sep 27, 2022 · In 2021, Canada's oil and gas extraction companies reported total assets of $452.9 billion, up 2.6% from 2020. Total capital assets increased 1.2% in 2021 to $380.0 billion as the industry reversed the write-offs incurred in 2020.
In the midst of the economic fluctuations and uncertainties in 2021-22, NRCan continued to deliver results for Canadians while supporting ongoing stabilization and economic recovery in Canada’s natural resource sectors.
- Canada’s Energy Transition
- Low-Carbon Electricity
- Wind and Solar
- Diverse Electricity Grids
- Crude Oil Production
- Natural Gas Production
- Fossil Fuel Demand
1. In the Evolving Policies Scenario, combustion of fossil fuels whose emissions are not captured falls 62% from 2021 to 2050, while use of low and non-emitting energy sources increases. While this...
In the Evolving Policies Scenario, Canadians reduce their energy consumption and adopt lower carbon sources (Figure ES.2). Total primary energy use falls 21% from 2021 to 2050 as energy efficiency improves. Low and non-emitting sources–including renewables, nuclear, and fossil fuels with carbon-capture and storage (CCS)Definition *grow to make up the strong majority of energy use. Unabated fossil fuel combustion (fossil fuel combustion without CCS) falls 19% from current levels by 2030, 45% b...
2. Canadians use more electricity, from increasingly low-carbon sources. Despite total energy use declining, electricity demand grows 44% from 2021 to 2050 in the Evolving Policies Scenario, much o...
Compared to the past two decades when electricity use grew very slowly, electricity demand grows quickly over the projection period in the Evolving Policies Scenario. This increase is driven by increased electrification of the energy system. Total electricity demand increases by 44% from 2021 to 2050, or by about 245 terawatt hours (TWh) (Figure ES.4). Half of this increase is driven by increased electrification in the industrial, residential, and commercial sectors. The other half comes from...
3. Wind, solar, and battery storage dominate electric capacity additions in all six net-zero electricity scenarios, making up between 82-85% of added capacity. With rising levels of wind and solar,...
The net-zero electricity scenarios each have a unique set of assumptions that examine many factors including technology, policies, level of electrification, and infrastructure. Figure ES.6 shows the net capacity additions for all six scenarios from 2019 to 2050. Consistent across all scenarios are large additions of wind and solar capacity, ranging from 100 gigawatts (GW) to 150 GW. These technologies are increasingly adopted due to their assumed low future costs in all scenarios. With large...
4. The net-zero electricity scenarios suggest that Canadian power systems will continue to be very distinct across the country, even in a low-carbon future. In each net-zero electricity scenario, t...
Figure ES.7 shows the generation mix for each province in the main net-zero electricity scenario. In British Columbia (B.C.), Manitoba, Quebec, and Newfoundland and Labrador, electricity generation continues to be primarily hydropower. Nuclear power remains limited to Ontario and New Brunswick and represents about 41% and 24%, respectively, of those provinces’ electricity supply in 2050. Natural gas-fired electricity generation remains a relatively important share, about 15%, of the electrici...
5. In the Evolving Policies Scenario, crude oil production grows much more slowly than in the past decade, rising 16% to a peak of 5.8 MMb/d in 2032. Afterwards, production declines slowly to 2050....
Canadian crude oilDefinition *production recovered to pre-pandemic levels by late 2020, after steep reductions in the spring of 2020. In both scenarios, production increases in the near term, but long-term trends differ significantly based on scenario assumptions, such as future price levels and domestic climate policy. In the Evolving Policies Scenario, Canadian production growth slows over the next decade peaking at 5.8 million barrels per day (MMb/d) in 2032, up from 5.0 MMb/d in 2021 (Fig...
6. Investment in natural gas production is spurred by assumed liquefied natural gas (LNG) exports in both scenarios. In the Evolving Policies Scenario, nearly 40% of Canadian natural gas production...
In the Evolving Policies Scenario, natural gas production remains near current levels of approximately 15.5 billion cubic feet per day (Bcf/d) through much of the next two decades. We assume that LNGDefinition * exports grow over that period, starting with 1.8 Bcf/d by 2026 and reaching 4.9 Bcf/d by 2039 in the Evolving Policies Scenario. The additional investment in production to feed these LNG exports sustains overall production levels. Without LNG, production would otherwise decline given...
7. As Canada’s energy system decarbonizes in the Evolving Policies Scenario, we use less fossil fuels. Coal becomes a negligible part of the energy mix. Use of oil-derived fuels declines, especiall...
In the Evolving Policies Scenario, total Canadian fossil fuel use declines over 40% from 2021 to 2050. However, projections differ across the various fossil fuels. Canadian demand for natural gas has seen relatively strong growth over the last decade, driven by increased use in the oil sands and power generation as coal was phased out. In the Evolving Policies Scenario, gas demand grows over the next two years, as Alberta electricity producers aim to no longer use coal for electricity generat...
Canada's top natural wealth contributor in 2022, making up one-third of the total resource value, followed by crude oil and natural gas which accounted for one-fifth of the total resource value. Mineral resources recorded an increase in value of 24% in 2022.
Mined bitumen production peaks in 2024 at 1.7 MMb/d, declining thereafter to 1.4 MMb/d by 2050, from 1.6 MMb/d in 2021. View our data on crude oil production by region, type, and scenario in our interactive visualization tool, Exploring Canada’s Energy Future.
Nov 23, 2022 · Following a trend of higher prices, Statistics Canada’s latest Annual Capital Expenditures Survey data indicates that Canadian oil and gas investment levels in 2022 are likely to be one-third higher than the 2020 lows.
