International Context
1.1 Chapter Summary

• World energy demand has been growing and is expected to continue to grow at a sustained rate (1.6 percent annually to 2020). Most of the growth will come from emerging economies (e.g. China, India).
• As an industrialized country, Canada is expected to face growing energy demand, but at a slower pace (1.3 percent per year) than total world demand.
• Canada has a diversified and balanced portfolio of energy assets. It has great potential for supply development in key resources, including the following:

• Growing crude oil production with a resource base second only to Saudi Arabia’s in proven oil reserves, primarily in the form of oil sands

• World’s third largest producer and second largest exporter of natural gas, taking advantage of its proximity to the U.S. energy market

• Largest producer of uranium in the world, with high-grade uranium reserves amounting to about one tenth of the world’s proven reserves

• Second largest producer of hydroelectricity, with more than 70 gigawatts (GW) of installed capacity, and significant undeveloped potential and a corresponding opportunity to further leverage the electricity storage potential of its hydroelectric system

• Opportunities for significantly expanding the use of renewable energy resources, such as wind, bioenergy and ocean energy, provided by Canada’s large land mass and long coastline

• As an energy consumer, Canada has a high level of energy intensity. This high level means Canada uses a large amount of energy per person and per unit of activity. The high level is due in large part to a cold climate, long distances, an energy-intensive industrial structure and a high standard of living.