Tuesday\u0027s report marks the first time the regulator has presented a long\u002Dterm outlook for Canadian energy using net\u002Dzero as a baseline.
“In a net-zero world, not only for Canada but for the rest of the planet, the supply and demand dynamic that we see today will be very different in the future,” Canada Energy Regulator chief economist Jean-Denis Charlebois told reporters Tuesday.
In that scenario, the CER said global oil prices will likely remain above US$60 per barrel all the way to 2050, with Canadian oil production declining by just 22 per cent.Article content Charlebois told reporters the three scenarios laid out are models, not forecasts, and the regulator has not made any predictions about which is most likely to become reality.“It remains to be seen whether it will actually look that way in the real world.”
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