- Population growth will be a massive factor on increased energy demands
- The International Energy Agency states that at present we are “maintaining the 2021 energy crisis”
- The push for renewables as we head towards 2050 doesn’t eliminate the need and use of fossil fuels
- For a deeper dive, check out Thematic Insights Podcast, The Future of Energy with Jeff Nielson
Moving towards Canada’s goal to achieve net-zero emission goals by 2050, energy demands, consumption and supply are hot topics as we look at powering the future and reducing carbon emissions.
“Global energy consumption will increase through 2050 and outpace advances in energy efficiency.”
U.S. Energy Information Administration
In the aftermath of the pandemic, the world was in a global energy crisis. And the International Energy Agency states that we are presently “maintaining the crisis.” The 2021 global crisis led to increased prices in oil, gas and electricity, caused in part by rapid post-pandemic economic rebound and the Russian invasion of Ukraine. Natural gas reached record highs and oil prices hit their highest level since 2008.
Moving forward, population growth will be a massive factor on increased energy demands. Alongside the initiative to reduce fossil fuels is a strong push for renewable energy.
However, the push for renewables as we head towards 2050 doesn’t eliminate the need and use of fossil fuels. In the video above, we look at how oil and gas fit into the energy equation of the future, balancing the use of alternative fuels, and the concern over oil supply.
To find out more on the energy equation, check out The Future of Energy Thematic Insights report. As well, dive deeper with Jeff Nielson on the Stockhouse podcast.
WTI Crude Oil was last trading at US$81.53.
Join the discussion: Find out what everybody’s saying about energy stocks as well as other companies on Stockhouse’s stock forums and message boards.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.