The Prospects for Canadian Self-Sufficiency in Oil over the Next Decade

Canadians have been accustomed to think of their country as having practically unlimited energy resources. It has come as a surprise and indeed a shock to realize that our resource potential may not be as extensive as was once thought, that it may be in forms or locations which do not correspond with our energy requirements or that the potential can only be realized at a very high cost or over a long period of time. In comparison with our major competitors we are indeed in an enviable position on balance we are in a net export position for all energy commodities taken together (oil, natural gas, coal, electricity and uranium) and we have an extensive resource base in all of these commodities. However, in terms of crude oil Canada is not in such a favourable position our exports of crude oil have declined rapidly since 1973 and from 1976 on we have been net importers of crude oil. While our crude oil supply position has deteriorated, our demand for oil products has increased at an average annual rate of about 2? per cent per year over the decade of the 1970s. A continuation of these trends will result in an increase in the level of our oil imports with adverse impact on our balance of payments, the federal government deficit and the rate of inflation. The question this paper addresses is whether Canada is likely to achieve a better balance in oil supply and requirements over the next decade

Economics · Natural resource economics · Political science · Self-sufficiency · Canadian Policy and Governance · Global Energy and Sustainability Research · Law

• Canada and the International Politics of Oil

  Open Access•David G Haglund•Canadian Journal of Political…•1982

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