Over the next 20 years, Canada’s National Energy Board (NEB) projects energy production levels to exceed domestic requirements, resulting in growing amounts of energy available for export.
Total Canadian energy production will grow substantially between now and 2035, with oil leading the way. Oil production increases by 75%. Natural gas production increases 25%. Canadian total electricity generation and supply increases over the projection period as well. Natural gas-fired power generation capacity increases substantially, largely at the expense of coal-fired capacity, and non-hydro renewable capacity doubles its share of the capacity mix.
Canadian energy needs increase as well, but at a slower rate than the historical trend. Canadian demand for oil and natural gas increases by 28%, with hydrocarbons continuing to be the primary source of energy to heat homes and businesses, transport people and goods, and many other functions.