Weekly Energy Charts
June 10, 2022
Sign up here to get on our email list
Featured Stories
Net Zero Oil Sands?
Marc Vermette
Canada’s largest oil sands producers have agreed to work together to reach a net-zero emissions target by 2050, in line with Canada’s 2035 goal.
The challenge is significant, however, as oil sands are among the most emissions-intensive sources of oil in the world.
Graph by Pembina Institute
In the first phase of their Net Zero pathway, the oil sands producers expect to eliminate 22 megatonnes of annual emissions by 2030, with 10 megatonnes coming from CCUS projects.
“Research is going to be required for us if we’re going to win the energy transition — and we’re going to win it,” (James Dunn, Imperial Oil’s director of sustainable technology integration)
A majority of the technology needed to lower oil sands emissions is understood, but the key will be making the finances work.
“[Ultimately, there] will be a preference for stable, secure hydrocarbons from countries like Canada…” (Jackie Forrest, executive director of ARC Energy Research Institute)
Forecasted energy production in Alberta
Erica Beattie
The Edmonton Journal’s recent article reports that energy output in Alberta is on the rise, with production to top $163B in 2022.
The Alberta Energy Regular released their annual energy outlook for 2022 just last week. It forecasts that Alberta will see an increase in the production of most energy sources through 2031. Domestic hydrogen production in particular is expected to increase by over a million tonnes in the next decade with several projects announced this past year in Alberta.
Due to increases in global energy demand and strong prices, AER also forecasts higher capital expenditures by the oil and gas industry.
Energy Sector Capital Expenditure and Supply
Energy Week
Erica Beattie
June 6th-10th is officially Energy Week in Alberta. The government declared this week to recognize the importance of the energy sector to Alberta’s past, present, and future. We in Alberta are blessed with an abundance of energy resources and the province’s energy sector supports nearly a quarter million jobs. So it seems only right that there be an entire week dedicated to energy in Alberta.
India-Canada Climate Agreement
Debosree Mukherjee
On June 2nd, India and Canada signed a Memorandum of Understanding to increase cooperation on climate action and environmental protection. Both countries have agreed to collaborate in areas such as
- increasing renewable energy capacity,
- decarbonizing heavy industries,
- reducing plastic pollution,
- supporting the sound management of chemicals,
- ensuring sustainable consumption.
This new agreement gives Canada an opportunity to export its renewable energy technologies to India, the world’s third-largest emitter of GHGs. However, it leaves out the production and consumption of coal in India, a key environmental issue. Coal produced about 40% of the world’s emissions in 2020, and India is the second largest producer and consumer of coal. Due to challenges regarding India’s growing population, energy demand, and poverty, the country continues to rely heavily on coal. Emissions from coal power in India has nearly tripled from 2000 to 2020. Coal is now responsible for almost half of India’s total carbon footprint. In contrast, emissions from coal power in Canada have decreased from 109 million tonnes in 2000 to 35 million tonnes in 2020. Canada’s Environment Minister has stated that although coal is not in the agreement, Canada will be looking to export renewable energy expertise to help India phase out its dependency on coal-fired electricity.
New Energy Modelling Centre
Yousaff Habib
The University of Victoria, Polytechnique Montreal, and the University of Calgary received an investment of $5 million from Natural Resources Canada and have formed a national energy modelling hub. This will allow energy researchers to create models and simulations that can give them insights concerning energy sources 20 to 50 years in the future, and will influence policy decisions regarding the decarbonization of Canada. It’s hoped that the hub will become the central institution for all energy modelling in Canada moving forward. Each university will be playing a specific role, with the University of Victoria leading the technical aspects, Polytechnique Montreal acting as the central administrative hub, and the University of Calgary addressing the economic and political analysis. Despite the key roles of these institutions however, the project is open source, allowing their work to be available to anyone in the field. This marks another step towards reaching net zero emissions by 2050 in Canada, by informing policymakers about the environmental and economic impacts of their decisions before they happen.
Oil
Weekly Crude Prices
Feature Crude
Alberta Crude
US Crude
Global Crude
Oil Price Differentials
Brent-WTI
WTI-WCS
Maya-WCS
WTI Cushing vs MEH
Forward Curves
WTI
Brent
Canadian Crude Supply and Disposition
Production
Imports
Exports
Rail Exports
US Oil
Production
LTO Production by Play
Net Imports
Oil and Product Net Imports
Inventories
Refined Products
Canadian Gasoline Prices
Map
Historic Gasoline Prices
Historic Diesel Prices
Canadian Refinery Runs
Canadian Refinery Runs
Western Canada Refinery Runs
Natural Gas
Natural Gas Market Summary
Feature Gas
Global Gas
North American Gas Hubs
Forward Prices
Henry Hub
Alberta (NIT) ($CAD)
Alberta (NIT)
BC (Stn 2)
Ontario (Dawn)
US Natural Gas
Shale Gas Production
Storage
Power
AESO Market Summary
Supply Mix
Prices and Loads
Wind Forecast
AESO Forward Prices
