Beware net-zero activists claiming demand is about to drop
The first notable act of our newly-minted culture minister, Steven Guilbeault, was to recite to media scribes the myth of peak oil. Asked whether pipelines would continue to be a disruptor to Alberta-Ottawa relations, he replied:
“The Canadian energy regulator, as well as the International Energy Agency, are telling us that probably by 2028, 2029, demand for oil will peak globally and it will also peak in Canada.” “So… before we start talking about building an entirely new pipeline, maybe we should maximize the use of existing infrastructure.”
He went on to claim that the Trans Mountain Expansion Project (TMX), which came online in 2024, was running at only 40 per cent capacity. This was wildly incorrect: in 2024, TMX ran at 77 per cent capacity, and that share is projected to grow over the years to reach 96 per cent in 2028. As for peak oil, Guilbeault was also very likely wrong. For years, activists have claimed that the highest volumes of oil consumption were just over the horizon, only to be proven wrong time and time again.
For the rest of this column: https://nationalpost.com/opinion/jamie-sarkonak-of-course-steven-guilbeault-would-cling-to-the-myth-of-peak-oil