Hydrogen fuel, renewable jet fuel and carbon fibres are some of the things the oilsands could be doing, Mark Little says
Suncor Energy president and CEO Mark Little speaks at the TD Securities Calgary Energy Conference in Calgary, July 9, 2019.
TORONTO ― The shift to electric vehicles and other low-carbon technologies could disrupt crude oil demand on a similar scale to the coronavirus pandemic,The comments are a stark prediction in an industry that frequently downplays the impact of electrification and points to forecasts of rising global oil demand to justify new investment and pipeline expansions.
Canada is the world’s fourth-largest oil producer and the sector accounts for 10.6 per cent of the country’s gross domestic product.
Economic shutdowns to limit the outbreak’s spread ground travel to a halt, cutting fuel demand by roughly 30 per cent worldwide., Canada’s number two oil producer, curtailed output and cut its dividend by more than half.
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