Energy Regulator Claims Canadian Oil Production Will Plunge 76% By 2050 ...Middle East

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Energy Regulator Claims Canadian Oil Production Will Plunge 76% By 2050
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The Canada Energy Regulator has issued a grim outlook that the country’s oil production will plunge 76% by 2050 thanks to the world moving to the clean energy transition, marking the first time the regulator has provided a long-term forecast for Canada’s crude output. The energy regulator has also predicted that global fossil fuel usage will decline by 65% between now and 2050.  The short-term investment outlook for Canada’s Oil Patch is just as bearish, with analysts predicting that earnings for the industry will decline…

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