Oil Self-Sufficiency for Canada

To be self-sufficient in oil during the next few decades of the world's history would appear to have many advantages. Canada is one of the few industrialized economies which might seek such self-sufficiency.A significantnumber of economists, politicians, and businessmen advocate it as a feasible and desirable policy objective for this country, with the early 1990s as a target date for accomplishment. Costs as well as benefits would be involved and the case needs to be assessed. At the moment, Canada is moving rather alarmingly away from self-sufficiency. In 1979 consumption of petroleum products moved back up to an annual increase of over 4 per cent. Production from Canada's conventional oil reserves in present producing areas has passed its peak and entered a period of continuing decline. Decisions to undertake additional oil sands production projects beyond the two already in place have been delayed to the point where the new plants could make no contribution to the supply picture until at least the final third of the present decade. Current demand and supply patterns point, therefore, to an inescapable increase for several years ahead in Canada's dependence on highly insecure and certainly very expensive foreign oil. In the circumstances, two questions urgently need clear thought and early answers. Is self-sufficiency in oil for the last decade of this century and the early part of the next a feasible and desirable objective for Canada? If so, what policy initiatives by governments will promote its achievement, or, at a minimum, avoid inhibiting progress towards it

Business · Petroleum engineering · Political science · Self-sufficiency · Canadian Policy and Governance · Engineering · Environmental Science · Global Energy and Sustainability Research · Law · Natural Resources and Economic Development

• Moving Towards World Pricing for Oil and Gas

  Terrence E Daniel, Henry M Goldberg•Canadian Public Policy•1982

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