(Calgary) Canada is on track to significantly reduce its use of fossil fuels by 2050, new forecasts show.
The Canada Energy Regulator predicts that fossil fuel consumption will decline by 62% over the next 30 years.
Forecasts suggest that Canadians will use significantly less gasoline and diesel in the coming years, leading to a 43% drop in the use of refined petroleum products by 2050.
Electricity use could increase by 45% as Canadians switch to electric vehicles. The report further predicts that low cost wind and solar power will be used to meet increased demand.
Growth in Canadian crude oil production is expected to peak at 5.8 million barrels per day in 2032, then slowly decline to 4.8 million barrels per day in 2050.
The forecast is based on the assumption that the current pace of increased efforts to reduce greenhouse gas emissions in Canada and globally will continue.