Canadian Oil Is Top Choice Among Oil Importers
When it comes to where the world gets its oil, a new global poll shows that importers favor Canadian crude, the majority’s top choice for reasons that are both democratic and environmental.
Some 24,000 people surveyed across 28 countries put Canada at the top of the list of preferred oil suppliers, citing the reputation and reliability of a country so far removed from any conflict zones or risky geopolitical maneuverings.
“That really reflects the reputation our country has as a place that does things the right way, not just producing oil and gas, but all the other elements of environment, social and governance considerations,” Global News cited Richard Masson, chair of the World Petroleum Council in Canada, as saying.
Canada was chosen as preferred supplier by 55% of respondents, while Norway ranked second at 53%, followed by the U.S. at 52%.
The Middle East was favored by 40% of respondents, followed closely by Mexico, with Venezuela, Russia and China making up the bottom of the ranking, according to the Financial Post.
Overall, 52% of those surveyed indicated that the peoples’ choice awards for oil supply generally go to Canada, Norway, and the United States, which the report notes “have strong records of democracy and environmental safety”, rather than Russia or Saudi Arabia.
Geopolitical instability and an energy crisis have created a situation in which people are much more aware of the origins of their energy, Ipsos said in its report.
“When we’re seeing a lot of conflict in areas that have traditionally produced oil, such as Russia, and concerns around countries such as China, the poll demonstrates that globally the world is looking to Canada and other countries like us to produce and supply the oil that they need,” Masson said.
Still, it is a high-level ranking for a country that only produces around 4% of the world’s oil, most of which is sold to the United States.
SOURCE – OILPRICE.COM