Despite our optimistic enthusiasm for wind and solar power, one way or another oil and gas use is shot through every part of our economic and social lives. That will be the case for many decades to come.

Oil demand in 2018 rose steadily, but confounded other expectations. The leading source of consumption growth was not China or India, but rather the United States. Sales of electric vehicles set new records, although they are yet to make a very visible dent in oil consumption.

"A hasty divestment brought about by student activists will impact a school’s endowment. While oil stocks have been especially beaten down in 2020 thanks to the struggle of OPEC+ to reach a production agreement and the Coronavirus pandemic destroying a significant chunk of demand, oil companies have traditionally been a steady and dependable stock that pays a significant dividend."

In 2019, Canada produced 4.7 million barrels of oil per day (b/d), of which 94% came from producing areas in Western Canada. Total production is expected to increase to 5.8 million b/d by 2030. In 2019, Canada exported more than 3.7 million b/d to the U.S.

Only fossil fuels provide low-cost, reliable, versatile, global-scale energy.
Unreliable solar and wind can't come close. That's why fossil fuels continue to grow in the developing world; China and India have 100s of coal plants in development.

Canada's top five pension funds have increased their total investments in the country’s major oilsands companies by 147% compared to 2020. Many of the funds are avoiding blanket divestment action...

A moral financial movement would do everything it could to increase capital for all cost-effective energy, including fossil fuels. And including nuclear, which is by far the most promising form of low-carbon energy. Instead, ESG is starving cost-effective energy of capital.

“Global energy demand is set to rise 19% by 2040, according to the International Energy Agency (IEA). This includes growth in both oil and natural gas demand, with oil and natural gas continuing to meet 54% of the world’s energy needs in 2040.”

Low-cost, reliable energy enables billions of people to enjoy the miracle of modern machines that make us productive and prosperous. Yet 800M people have no electricity and 2.6B people are still using wood or dung for heating and cooking.

A study commissioned by the Independent Association of Petroleum Producers found that the financial impacts of divestment action at universities leads to an average 15.2% drop in transfers from endowment accounts to school programs, translating to increased annual tuition rates, scholarship losses and reductions in faculty spending.