Canadian Oil Industry - A Report

Essay by chetanhmUniversity, Master'sA, March 2007

download word file, 7 pages 3.0

IntroductionClimate change is one of the most significant environmental challenges of the 21st century and is linked to other important issues such as economic growth and development, currently pointing fingers at our oil industry with signs of diminishing our comepetitive advantage. Looking at the current status of Canada in international competitiveness, along with Productivity, Innovation and Investments in Human Capital, we also need excellent international economic conditions to make use of our competitive advantage. Canada's oil reserves - which are predominantly located in Alberta's oil sands - are now officially ranked as second only to Saudi Arabia's . While these reserves may be considered a blessing, most economies with such abundant natural resources have actually experienced economic difficulties (ex: Netherlands in 1970s with large exports of natural resources which led to a strong currency hurting local economy). In the following section we will be exploring different issues arising out of Global Warming, assessing its effects on our International Competitiveness both in Oil and other industries.

Factors Affecting our International Competitiveness in Oil IndustryGlobal Warming Under a Single Hood: Increasing global temperature taking global awareness along with it in late 2006 and early 2007 will have a direct impact on our oil exports and in turn our dollar value which is pegged to it. Canada's fastest-growing source of global warming pollution -- the Alberta tar sands -- is boiling off the very water supplies it needs. This in fact can make our own government and rest of the world to point fingers at our oil sands being the biggest contributors to the end of our Ice age. With global concern towards green power rising because of these facts, our oil sands might loose the competitive advantage over any alternate forms of energy (So called green energy sources) that the world might...