Ed Brost

By: Ed Brost Albertans and Canadians have benefited from oil sands wealth creation and prosperity, especially during boom years. But is expecting another oil boom realistic considering electrification of transport trends? A transition is underway; electric vehicles (EV) are coming. Most people overlook that this transition need not be complete; a partial transition alone could soon affect global oil prices. Albertans should prepare for this scenario in case the impacts hit sooner than expected.

October 19, 2020 There's no disputing EVs will threaten oil demand. Oil-producing provinces need to implement a 21st century transition plan. “We will need fossil fuels for decades to come,” or so goes the conventional wisdom. People in developing countries are buying more vehicles, so we need to invest in growing our oil sector – especially the oil sands. But is this logic sound? Arguing that “we will need oil for decades to come” says nothing about oil prices.