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Varcoe: 'A more realistic look': New Canadian energy outlook sees more gas, rising LNG exports to the world

With growing concerns in recent years about global energy security, decarbonization and affordability, the agency’s report examined different scenarios for energy development in Canada

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Only a couple of years ago, talk about global oil demand hitting a plateau was widespread, with Canada’s natural resources minister at the time suggesting its use would probably peak in 2024.

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And it was only a few years ago when the country’s energy regulator issued a rather pessimistic outlook for natural gas, indicating production in Canada would remain flat until 2040, and then fall, under its evolving policy scenario.

Times have clearly changed.

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