{"id":16873,"date":"2022-03-27T08:32:06","date_gmt":"2022-03-27T08:32:06","guid":{"rendered":"https:\/\/tahrir2day.com\/news\/2022\/03\/27\/canada-pledges-to-help-countries-stop-using-russian-oil-2\/"},"modified":"2022-03-27T08:32:06","modified_gmt":"2022-03-27T08:32:06","slug":"canada-pledges-to-help-countries-stop-using-russian-oil-2","status":"publish","type":"post","link":"https:\/\/tahrir2day.com\/news\/2022\/03\/27\/canada-pledges-to-help-countries-stop-using-russian-oil-2\/","title":{"rendered":"Canada pledges to help countries stop using Russian oil"},"content":{"rendered":"
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Canada says it can supply more oil, gas and uranium to help solve global energy crisis.<\/b><\/p>\n<\/div>\n

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Prices have skyrocketed as Russian supplies have come under pressure from the invasion of Ukraine.<\/p>\n<\/div>\n

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Canada’s natural resources minister said many countries are determined “to help as much as possible to oust Russian oil and gas.”<\/p>\n<\/div>\n

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The world’s fourth largest oil producer has pledged to export an additional 200,000 barrels of oil.<\/p>\n<\/div>\n

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Its natural resources minister, Jonathan Wilkinson, told BBC News it would also export an additional 100,000 barrels of natural gas.<\/p>\n<\/div>\n

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  • The EU signs a US gas deal to curb dependence on Russia<\/li>\n
  • Could the world get by without Russian oil and gas?<\/li>\n
  • The Saudi oil giant wants to ramp up energy production<\/li>\n<\/ul>\n<\/div>\n<\/div>\n
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    It is following calls from its allies at a meeting of world energy ministers at the International Energy Agency (IEA) in Paris, who pledged to accelerate the clean energy transition.<\/p>\n<\/div>\n

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    “We expect to hit 300,000 barrels by the end of the year,” says Mr. Wilkinson.<\/p>\n<\/div>\n

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    But that’s just a fraction of the three million barrels a day the IEA says will be removed from global markets by next month due to sanctions on Russia.<\/p>\n<\/div>\n

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    Canada’s ability to export oil is limited as its pipelines are near full capacity, but Mr Wilkinson says shipping via the United States is an option. <\/p>\n<\/div>\n

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    Canada’s largest pipeline company, Enbridge, told the BBC it was “ready to do whatever it takes to increase energy security for both North America and Europe.” <\/p>\n<\/div>\n

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    The impact of Canada’s additional shipments “will be relatively limited given the regional nature of Canadian crude, which is likely to remain in the North American market,” said Louise Dickson, a senior oil analyst at consultancy Rystad Energy.<\/p>\n<\/div>\n

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    \u201cThe main energy crisis is playing out in Europe due to supply shortages, and in Asia where demand is poised to recover if Covid-19 lockdowns can be kept in check,\u201d adds Ms Dickson. <\/p>\n<\/div>\n

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    Canada has joined the US and UK in introducing a ban on Russian oil. This has pushed prices up to almost $130 (\u00a398.56) a barrel since the start of the war in Ukraine.<\/p>\n<\/div>\n

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    Mr Wilkinson believes there is “a consensus” among the other energy ministers at the meeting that the world needs to get by without Russian oil and gas, adding: “I think the only differences are how fast you can actually get away from it can.”<\/p>\n<\/div>\n

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    However, investment bank JP Morgan expects the “current extreme aversion to Russian oil to abate” and the price of a barrel of oil to fall back to around $100 in the second half of the year.<\/p>\n<\/div>\n

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    The International Monetary Fund is among those who have expressed concern that higher oil prices are raising the cost of goods and energy and that inflation is hurting the global economy.<\/p>\n<\/div>\n

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    Mr Wilkinson says leaders need to ensure that people “are able to heat their homes and that industry is able to produce the goods that we all need”.<\/p>\n<\/div>\n

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    In the longer term, Mr. Wilkinson recognizes that “energy security and combating climate change are closely linked”. <\/p>\n<\/div>\n

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    Addressing immediate concerns, he argues, \u201cCanadian oil displacing Russian oil is not causing further climate change. There are no more CO2 emissions.\u201d<\/p>\n<\/div>\n

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    Mr. Wilkinson, who previously ran a “clean energy” company, believes strongly in using hydrogen and other renewable sources to generate more energy in the future.<\/p>\n<\/div>\n

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    The variable nature of solar and wind power means that “nuclear power has a role to play in many jurisdictions when it comes to providing base load rather than intermittent power,” says Wilkinson.<\/p>\n<\/div>\n

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    Russia plays a key role in the global nuclear power industry. Not only is uranium mined, there is also a lot of processing to make it usable in power plants. <\/p>\n<\/div>\n

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    Canada is “absolutely” ready to export more uranium, says Mr. Wilkinson. He states, “Our uranium producers do indeed have overcapacity and could certainly scale up to fill the gap that Russian supplies will provide.”<\/p>\n<\/div>\n

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    The UN Secretary-General failed to mention a role for nuclear power when he said a few days ago that the rush to use fossil fuels over the war in Ukraine is “madness” and threatens the ability to limit global temperature rise to 1.5 limit c<\/p>\n<\/div>\n

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    Mr Wilkinson says: “I think where the Secretary-General and I very much agree…is the need to accelerate our work on climate change. <\/p>\n<\/div>\n

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    “We’re running out of time. There is no question about that \u2013 we have to make significant progress by 2030.\u201d<\/p>\n<\/div>\n

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    He suggests that the war in Ukraine underscores \u201chow important it is not just from a climate perspective, although that’s enough, but from an energy security perspective that we actually do this now.<\/p>\n<\/div>\n

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    You can watch the full interview with Jonathan Wilkinson this weekend on Talking Business with Aaron Heslehurst.<\/i><\/p>\n<\/div>\n

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    Viewers in the UK can catch the show on Sunday at 3:30pm on the <\/i>BBC News Channel.<\/i><\/p>\n<\/div>\n

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    In other countries it will be on <\/i>BBC World News on Saturday at 12:30 & 23:30 GMT and on Sunday at 06:30 & 18:30 GMT.<\/i><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

    Canada says it can supply more oil, gas and uranium to help solve global energy crisis. Prices have skyrocketed as Russian supplies have come under pressure from the invasion of Ukraine. Canada’s natural resources minister said many countries are determined “to help as much as possible to oust Russian oil and gas.” The world’s fourth […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"footnotes":""},"categories":[45],"tags":[],"class_list":["post-16873","post","type-post","status-publish","format-standard","hentry","category-business"],"yoast_head":"\nCanada pledges to help countries stop using Russian oil - Tahrir News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tahrir2day.com\/news\/2022\/03\/27\/canada-pledges-to-help-countries-stop-using-russian-oil-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Canada pledges to help countries stop using Russian oil\" \/>\n<meta property=\"og:description\" content=\"Canada says it can supply more oil, gas and uranium to help solve global energy crisis. 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