{"id":36881,"date":"2026-05-08T08:57:06","date_gmt":"2026-05-08T08:57:06","guid":{"rendered":"https:\/\/www.europesays.com\/canada\/36881\/"},"modified":"2026-05-08T08:57:06","modified_gmt":"2026-05-08T08:57:06","slug":"a-golden-opportunity-for-canadas-oil-and-gas-industry","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/canada\/36881\/","title":{"rendered":"A Golden Opportunity for Canada\u2019s Oil and Gas Industry"},"content":{"rendered":"<p class=\"speakable\">Canada has a \u201cgolden opportunity\u201d to become a major global oil player as the war in the Middle East limits sources of crude and natural gas, the head of the International Energy Agency said, adding that \u201cThe cost of missing this train will be incredible,\u201d as <a href=\"https:\/\/www.bloomberg.com\/news\/newsletters\/2026-05-07\/iea-chief-says-canada-shouldn-t-squander-golden-opportunity-in-energy\" rel=\"nofollow noopener\" target=\"_blank\">quoted<\/a> by Bloomberg.<\/p>\n<p>Fatih Birol said the world was losing 14 million barrels in daily supply because of the war, and reliability has gained even more prominence for importers of energy commodities. After the war ends, the IEA\u2019s secretary general said, \u201cthere will be an energy security risk premium,\u201d and \u201cthe most important resource, or card, that Canada has today is trust.\u201d<\/p>\n<p>\u201cCanada doesn\u2019t have the luxury to be slow,\u201d Birol added. \u201cI wish there were a few more Canadas in the world, so that we can have a much more reliable and sustainable global energy system.\u201d<\/p>\n<p>The head of the International Energy Agency has been a vocal opponent to the global expansion of oil and gas production before the war in the Middle East, arguing that the only sustainable path forward for the world was to give up oil and gas in favor of alternative energy sources such as wind and solar.<\/p>\n<p>Canada has among the most abundant oil and gas resources in the world, but has been constrained in exports, with almost all of what it has to sell abroad going to the United States. In recent years, the energy industry has pushed for a more global reach, and the federal government has recently seen the point in that.<\/p>\n<p>Canada has one LNG export facility targeting Asian markets, and now there is pressure from the industry to build more oil pipelines so it can also start shipping it directly to overseas markets rather than pumping it to the U.S. and exporting it from the Gulf Coast.<\/p>\n<p>By Irina Slav for Oilprice.com<\/p>\n<p>More Top Reads From Oilprice.com<a href=\"https:\/\/oilprice.com\/Latest-Energy-News\/World-News\/The-Iran-War-Has-Upended-Global-LNG-Markets.html\" data-embargo=\"1774512000\" rel=\"nofollow noopener\" target=\"_blank\"><\/p>\n","protected":false},"excerpt":{"rendered":"Canada has a \u201cgolden opportunity\u201d to become a major global oil player as the war in the Middle&hellip;\n","protected":false},"author":2,"featured_media":36882,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[17,5167,11230,16033,8712,10746,16032,9320,14049,14048],"class_list":{"0":"post-36881","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-canada","8":"tag-canada","9":"tag-crude-oil","10":"tag-energy-security","11":"tag-fatih-birol","12":"tag-iea","13":"tag-lng","14":"tag-middle-east-war","15":"tag-natural-gas","16":"tag-oil-exports","17":"tag-pipelines"},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts\/36881","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/comments?post=36881"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts\/36881\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/media\/36882"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/media?parent=36881"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/categories?post=36881"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/tags?post=36881"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}