If Canada were to make a priority of developing and exporting more oil and natural gas, it could displace half of Russia’s exports, says think tank SecondStreet.org. Russia is the source of about 14 percent of the world’s supply, according to the International Energy Agency (IEA).
“As long as the world requires oil and natural gas—and IEA estimates show this will be the case for decades to come—it’s better for consumers to rely on peaceful nations such as Canada to supply the resources,” stated a SecondStreet.org report published last week.
The think tank asked eight industry experts to estimate how much of Russia’s exports Canada could replace and how quickly. The experts were to work under certain assumptions. For example, that the government would not allow protesters to halt the building of pipelines or other infrastructure….