Energy projections force technology to take center stage
Published on October 25, 2011
October 25, 2011, Medicine Hat Alberta...By 2030, worldwide energy consumption is projected to rise over 50 percent, which makes meeting that demand both increasingly difficult and expensive. According to the Canadian Association of Petroleum Producers (CAPP), oil and gas will continue to be an important part of our energy supply; however renewable and alternative sources of energy will also prove essential. The forecasted demand is in part due to population growths as well as lifestyle changes.
In September, the Economic Development Alliance (EDA) of Southeast Alberta hosted Alberta is Energy where Janet Annelsey, vice president of communications for CAPP, explained her organizations approach in meeting these demands. “We know as a community of oil and gas producers we cannot meet energy demand from hydrocarbons alone, that we need wind, we need solar, we need nuclear and we do need hydro as well as other sources that are coming in the future.”
Annelsey went on to explain that technology would be crucial in meeting demand as it would enable producers to find better, more cost effective ways to get the resources required; as well as aid in achieving environmental, social and economic goals that government, regulators and citizens expect. It was also stated that for an economy like Canada, who has an abundance of resources, it is positioned well to contribute to the overall energy supply of the future.
“We can meet our own needs and try to lower the carbon content of our own energy mix, but we can also contribute to nations who do not have their own natural resources and cannot be self sufficient. We can export to the United States and potentially over to Asia as well.”
Jonathan Seib, economic development officer for the EDA expressed optimism when it came to energy in southeast Alberta.
“Economic success in our region has hinged on the strength of our natural gas industry. With prices in their current state, it is easy for people to worry about the future. But the bottom line is that the gas market isn’t going anywhere. We have to tighten our belts, innovate, and find ways to produce gas better and cheaper but this will benefit us when prices do increase. And it will position us to help meet global market demand as well as our own domestic needs in the future.”
The EDA business team encourages companies in the oil and gas industry to contact them to find out ways to diversify your operations and position yourself well for the future. Contact Jonathan Seib, economic development officer at 403-488-7015 to find out more on the energy outlook or go to the EDA’s event page to view the PowerPoints delivered at Alberta is Energy.