Canada is better equipped than almost every other country on the planet to address the twin challenges of a warming climate and strained global energy supplies, a new World Energy Council report has decided. The county ranked third out of 94 countries for its ability “to balance the three dimensions of energy sustainability extremely well.” Canada came behind Sweden and Switzerland for its policies promoting “energy security, social equity and environmental impact mitigation.” The council pointed to Canada’s high reliance on hydropower and nuclear energy, its relatively high numbers of clean technology patents, and B.C.’s carbon tax.

A new assessment published by the US Geological Survey says Alaska may have undiscovered, technically recoverable resources of nearly 30 billion barrels of crude oil, about 179 trillion cubic feet of non-associated natural gas, and 40 trillion cubic feet of associated natural gas.

US crude oil production appears likely to reach 7.5 million bpd in 2013.

The International Energy Agency’s chief economist said this week “Oil demand is growing so strongly worldwide that I think the world needs every single drop of Canadian oil” which will include Alberta’s tar sands crude oil.

Mexico’s national oil company (PEMEX), the fourth-largest crude oil producer in the world, has announced that it has discovered a crude oil deposit in the southern part of the country that could provide as much as 1 billion barrels by the time exploration and extraction is complete. This is the company’s third major find in the past three months, following two deep-water deposits in the Gulf of Mexico, where it estimates there is 26.5 billion barrels of untapped crude oil.

Saudi Arabian oil minister Ali Naimi has expressed concern about the kingdom’s domestic energy use as oil consumption was growing at ‘a frightening level’.

A large tanker carrying liqufied natural gas (LNG) is about to become the first ship of its type to sail across the Arctic. The Ob River, left Norway in November and has sailed north of Russia on its way to Japan. The specially equipped tanker is due to arrive in early December and will shave 20 days off the regular journey.

Energy Minister Craig Leonard said there may be enough shale gas in the Canadian province of New Brunswick to fuel the province’s energy needs for the next century. The province has at least 80 trillion cubic feet of natural gas locked within its borders, 15 million of which can be economically extracted at this time.

India’s Oil & Natural Gas Corp plans to pay as much as $5 billion to ConocoPhillips for part ownership in a Kazakhstan crude oil project. This move could be the start of more such deals by Indian energy companies seeking to offset declining domestic production.

With renewable energy prices rising in Europe and electricity and natural gas prices falling in the US because of the abundance of shale gas in the latter, European manufacturers are having to pay substantially more for electricity and natural gas supplies than their North American rivals. European business observers say that the rising energy prices will not only affect energy intensive industries but also the entire industrial value chain on the continent.

OPEC member Qatar will ask firms to tender for a 1.8 GW solar energy plant in 2014 costing between $10-20 billion as the world’s highest per capita greenhouse gas emitter seeks to increase its renewable energy production.

Energy used by the average household in Ireland has declined 16% since the economic crisis began in 2007 according to the country’s Sustainable Energy Authority. The plunge in energy consumption is due to a mixture of factors, including the Great Recession and improved efficiency in homes, cars and factories.

The average UK household is paying 63% more for energy than it did 5 years ago. The average household energy bill has reached £1,334 a year, with heating accounting for almost half (44%).

Waste Management, the largest recycler and landfill owner in the US, produces more renewable energy than the entire U.S. solar industry.

 

with h/t Tom Whipple

 

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