Canada-Alberta pipeline deal faces uncertain Asian demand as region rapidly transitions to renewables
By
Inayat Singh, Bridget Stringer-Holden
Summary
Energy and environmental organizations are raising concerns about the new Canada-Alberta deal to build an oil pipeline to the West Coast, questioning whether Asian markets will actually want Canadian oil given their rapid transition to renewable energy and electric vehicles. Experts note that China and other Asian countries are quickly moving away from fossil fuels, with EV adoption booming and renewable energy capacity expanding rapidly, potentially leaving Canada with stranded assets and limited buyers for its oil exports.
Source
dailyclimate.orgCanada-Alberta pipeline deal faces uncertain Asian demand as region rapidly transitions to renewablescbc.caKey quotes
· 3 pulledEnergy and environmental organizations are reacting with alarm to the new Canada-Alberta deal to build a new oil pipeline to the West Coast, questioning whether new buyers can be found for the oil that may eventually flow through the pipelines.
Proposed new oil markets in Asia are quickly transitioning away to renewables, experts say
Most new cars sold in China are electric, and the country's EV exports to the rest of Asia are booming, speeding up the energy transition in the region.
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