Canada is getting into the Big leagues of Energy Production according the a recent report from the Fraser Institute.
In short, Canada has "pretty much vast untapped potential for Economic benefits to Canadians by continuing along this path of increased energy production and trade" says Ken Green of the Fraser Institute. According to this report, Canada is well on its way to becoming a Superproducer of energy with its vast new reserves of Oil from unconventional sources like the Oil Sands, new reserves of Natural Gas from Fracking shale reserves, as well as our existing supplies of power generated by Hydro Electricity.
The price of natural gas is coming down dramatically in North America due to the vast new supplies of shale gas coming online.
The shale gas revolution has generated many changes. As Ken Green says "the shale gas revolution has multiple tendrils. It is not just about affecting availability and electrical supply, as well as bringing back manufacturing and chemical manufacturing back to countries that it has left. It is also a complete overturning of the Geopolitics of energy because the natural gas supplies, the shale supplies are found in many many Democratic countries and it breaks the stranglehold of Non-Democratic countries over oil and natural gas."
Technology has discovered how to extract oil economically from sand, and both oil and natural gas from rock (shale). "Japan just recently managed to produce methane from something called methane hydrates, that are a sort of natural gas slushy that occurs on the margins of continents and islands. There is such a supply of that around the world you could be talking about 1000 years of natural gas supply if people learn how to exploit that."
Its technology that made the Oil Sands go from a lab experiment into a 170 Billion Dollars of proven reserves.
In short technology has rendered "Peak Oil" a quaint idea, and Canada is sitting on top with a very prosperous energy future.
Ezra Levant has a great interview with Ken Green of the Fraser Institute HERE
The entire Fraser Institute Report HERE