Grandparents killed in wrong-way crash on Hwy. 401 identified
A 60-year-old man and a 55-year-old woman killed in a wrong-way crash on Highway 401 earlier this week have been identified by the Consulate General of India in Toronto.
While acknowledging the inevitable advance of alternative energy sources and technology, OPEC said that oil would be the leading energy source for decades to come as crude prices reached three-year highs Tuesday.
In its annual World Oil Outlook, OPEC acknowledged that more electric vehicles on the road and the push for alternative and renewable energy will indeed usher in an era of declining demand for oil in rich countries.
But the energy needs of expanding economies in other parts of world means that oil will be the world's No. 1 source of energy through 2045, OPEC said Tuesday.
The long-term report from OPEC arrives as economies emerge from the most severe economic shocks from the global pandemic, snarling supply lines and creating tight supplies of nearly everything, including oil. Brent crude touched $80 per barrel on Tuesday while the U.S. oil benchmark crude wasn't far behind, both reaching three-year highs. Hurricane Ida slammed into a critical port that serves as the primary support hub for the Gulf of Mexico's deepwater offshore oil and gas industry in the U.S., worsening the supply situation, at least temporarily.
The average price for gasoline in the U.S. rose again over the weekend, according to the Lundberg Survey, and now costs $1 more per gallon than it did last year at this time.
After being stung by deep production cuts in 2020 during the depths of the pandemic, OPEC has increased production slowly.
"What is clear in this year's WOO is that energy and oil demand have picked up significantly in 2021, after the massive drop in 2020, and continued expansion is forecast for the longer-term," OPEC said. "Global primary energy demand is expected to increase by 28% in the period between 2020 and 2045, with all energies required, driven by an expected doubling in size of the global economy and the addition of around 1.7 billion people worldwide by 2045."
Only coal will see less use, while other sources of energy will see increasing demand, though the share will shift to include a bigger proportion for renewables, nuclear and natural gas, according to the group.
The 340-page report sketches out a future of declining demand for oil in wealthier countries that belong to the 38-member Organization for Economic Development and Cooperation, as efforts to fight climate change take hold in the form of renewables and alternative fuels in cars, airplanes and ships. It forecasts that the world's vehicle fleet would grow by 1.1 billion to 2.6 billion by the end of the report's time frame in 2045 -- and that 500 million of those would be electric powered, or 20% of all vehicles.
But growing populations and expanding middle classes in the rest of the world including China and India will mean increased demand for oil between 2020 and 2045, although much of that increase will take place in the earlier part of that period, the report, produced by OPEC's secretariat in Vienna, said.
Oil will satisfy 28.1% of the world's energy demand by 2045, down from 30% in 2020 -- but ahead of natural gas with 24.4% and coal with 17.4%. Hydroelectric, nuclear and biomass energy sources and other renewables such as wind and solar make up the rest.
A key reason cited for declining energy use in the more-developed world was demography: shrinking and aging populations that usher in lower economic growth.
The report noted that growing awareness of the need to accelerate actions to address climate change have resulted in ambitious new policy intentions to reach net zero emissions by 2050. The European Union, the United States, Japan, the U.K., Canada and Brazil have proposed roadmaps to meet new goals.
This month, U.S. President Joe Biden signed an executive order setting a target for zero-emissions vehicles to account for half of all automobiles sold in the U.S.A. by 2030.
OPEC, however, noted "considerable doubts as to whether all these ambitious climate-mitigation commitments will be met in the proposed timeframe." For example, the European Union in July spelled out its Fit for 55 package, in which the 27-country bloc vowed to reduce emissions by 55% from 1990 levels by 2030. OPEC said that the plan "remains exactly that for the time being, a plan, which still needs to be negotiated and agreed by all EU Member States, leaving ample scope for exceptions and watering-down."
The U.K. will host the 26th UN climate change conference Oct. 31-Nov. 12 in Glasgow, Scotland, where national leaders will seek ways to reduce the emission of greenhouse gases and limit the rise in global temperatures.
A 60-year-old man and a 55-year-old woman killed in a wrong-way crash on Highway 401 earlier this week have been identified by the Consulate General of India in Toronto.
Three people have been arrested and charged in the killing of B.C. Sikh activist Hardeep Singh Nijjar – as authorities continue investigating potential connections to the Indian government.
The Vancouver Canucks are moving on to the second round of the Stanley Cup Playoffs.
TD Bank Group could be hit with more severe penalties than previously expected, says a banking analyst after a report that the investigation it faces in the U.S. is tied to laundering illicit fentanyl profits.
A Quebec man who pleaded guilty to threatening Prime Minister Justin Trudeau and Premier François Legault has been sentenced to 20 months in jail.
RCMP say human remains found in a rural area in central Saskatchewan may have been there for a decade or more.
A source close to singer Britney Spears tells CNN that the pop star is 'home and safe' after she had a 'major fight' with her boyfriend on Wednesday night at the Chateau Marmont in West Hollywood.
As Wegovy becomes available to Canadians starting Monday, a medical expert is cautioning patients wanting to use the drug to lose weight that no medication is a ''magic bullet,' and the new medication is meant particularly for people who meet certain criteria related to obesity and weight.
Drew Carey took over as host of 'The Price Is Right' and hopes he’s there for life. 'I'm not going anywhere,' he told 'Entertainment Tonight' of the job he took over from longtime host Bob Barker in 2007.
Alberta Ballet's double-bill production of 'Der Wolf' and 'The Rite of Spring' marks not only its final show of the season, but the last production for twin sisters Alexandra and Jennifer Gibson.
A British Columbia mayor has been censured by city council – stripping him of his travel and lobbying budgets and removing him from city committees – for allegedly distributing a book that questions the history of Indigenous residential schools in Canada.
Three men in Quebec from the same family have fathered more than 600 children.
A group of SaskPower workers recently received special recognition at the legislature – for their efforts in repairing one of Saskatchewan's largest power plants after it was knocked offline for months following a serious flood last summer.
A police officer on Montreal's South Shore anonymously donated a kidney that wound up drastically changing the life of a schoolteacher living on dialysis.
Since 1932, Montreal's Henri Henri has been filled to the brim with every possible kind of hat, from newsboy caps to feathered fedoras.
Police in Oak Bay, B.C., had to close a stretch of road Sunday to help an elephant seal named Emerson get safely back into the water.
Out of more than 9,000 entries from over 2,000 breweries in 50 countries, a handful of B.C. brews landed on the podium at the World Beer Cup this week.
Raneem, 10, lives with a neurological condition and liver disease and needs Cholbam, a medication, for a longer and healthier life.