Authored by Rashid Hudain Syed via The Epoch Times,
The world is quietly abandoning the fantasy that renewables alone can guarantee energy security.
The U.S.–Israel war on Iran exposed how vulnerable the global economy remains to disruptions in fossil fuel supply chains. Any disruption in the Strait of Hormuz quickly affects global fuel prices, inflation, and energy costs worldwide.
For years, Western governments pushed rapid decarbonization and a transition away from oil and gas. But war and supply disruptions have exposed how difficult that transition really is. Countries are once again looking to stable producers for reliable fossil fuel supplies.
Oil is once again a precious commodity, and producers are benefiting.
Canada is no exception.
Surging global oil prices, the expansion of export infrastructure like the Trans Mountain pipeline, and improving relations between Ottawa and Alberta on carbon pricing and energy policy are helping drive renewed growth and investor confidence in Canada’s oil sector. Massive resource windfalls and record free cash flows are flowing through the industry.
Canada’s vast reserves and political stability are becoming increasingly important as geopolitical tensions grow. Canada holds the world’s third-largest proven oil reserves, behind only Venezuela and Saudi Arabia.
Policy changes have also made Canada more attractive to long-term investment. Major producers are aggressivel
