http://www.financialpost.com/todays-paper/story.html?id=2210101$this->bbcode_second_pass_quote('', 'W')orld needs Canada's 'dirty oil': IEA
Energy Security
Peter O'Neil, Canwest News Service
Published: Wednesday, November 11, 2009
The world needs Canada's so-called dirty oil, the International Energy Agency said yesterday even as it called on leaders to make decisive moves to slash greenhouse gas emissions at a United Nations sponsored negotiating session next month.
"World leaders gathering in Copenhagen next month for the UN Climate Summit have a historic opportunity to avert the worst effects of climate change," IEA executive director Nobuo Tanaka said in a statement after releasing the agency's annual World Energy Outlook analysis.
The IEA, which is funded by and provides advice to Canada and 27 other industrialized countries, said lower emissions are needed not only to protect the environment but also to enhance energy security during a period of soaring demand.
Without concrete actions to limit emissions, primarily through efficiency measures and new technology, energy demand will jump by 40% between now and 2030, the IEA said in its report.
Canada, with 178 billion barrels of proven oil reserves that ranks second only to Saudi Arabia, plays an important role on the supply side, the IEA said.