Canada on track to reduce fossil fuel use by 62 per cent by 2050

CALGARY -- A new forecast says Canada is on track for a significant reduction in fossil fuel use by 2050.

The Canada Energy Regulator predicts fossil fuel use will fall by 62 per cent in the next 30 years.

The forecast suggests Canadians will use significantly less gasoline and diesel in coming years, resulting in a 43 per cent decline in the use of refined petroleum products by 2050.

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Electricity use could rise by 45 per cent as Canadians transition to electric vehicles. The report predicts low-cost wind and solar power will be used to meet the rise in demand.

Canadian crude oil production growth is expected to peak at 5.8 million barrels per day in 2032, and then to decline slowly to reach 4.8 million barrels per day in 2050.

The forecast is based on the assumption that the current pace of increasing efforts to reduce greenhouse gas emissions in Canada and around the world will continue.

This report by The Canadian Press was first published Dec. 9, 2021.