Market Research

Global Energy Landscape

The Energy Institute’s Statistical Review of World Energy highlights that global energy demand continues to grow, with fossil fuels still accounting for 86% of the energy mix. Despite record renewable deployment, overall demand growth is outpacing clean energy expansion. In 2024, all major energy sources—renewables and fossil fuels alike—hit record consumption levels, driven largely by China’s dual reliance on coal and rapid renewable expansion. This underscores the structural challenge of transitioning from an “energy addition” mode to a true decarbonization pathway. Renewables have avoided over 1,371 exajoules of fossil fuel use since 2010, but they still account for only about 8% of total global energy demand, revealing untapped potential for energy independence and efficiency gains.

The International Energy Agency (IEA) reinforces this picture, noting that global energy demand has grown nearly 60% since 2000, with emerging economies driving the increase. Electricity demand is projected to soar through 2030, fuelled by industrial growth, transport electrification, and the rising energy needs of data and AI systems. The IEA emphasizes the need for investment in electricity grids, flexibility, and critical minerals to support the clean energy transition. Energy security remains a central theme, with geopolitical risks and climate impacts intensifying vulnerabilities across supply chains.

Market Intelligence and Pricing

S&P Global Energy provides granular market intelligence, offering pricing benchmarks (such as Platts Dated Brent for crude oil), advisory services, and sustainability insights. Its analysis shows how geopolitical developments—like sanctions on Russian crude and volatility in Venezuelan exports—reshape global oil flows. It also highlights vulnerabilities in power systems, as seen in the U.S. during winter storms, where reliance on natural gas forced rare oil-fired generation. S&P Global positions itself as a key provider of forward-looking energy transition data, helping businesses adapt to unprecedented demand growth and decarbonization pressures.

Canadian Energy Trends

The Canadian Centre for Energy Information (CCEI) serves as a hub for national energy data, covering production, consumption, trade, and sectoral trends. Recent snapshots show Canadian crude oil exports by rail, uranium exports fueling nuclear generation abroad, and growing Indigenous ownership in pipelines and LNG facilities. These developments highlight Canada’s dual role as a fossil fuel exporter and a participant in global clean energy supply chains.

Complementing this, Statistics Canada provides detailed energy statistics. As of late 2025, electricity generation reached 51.2 million megawatt-hours (up 1.9% year-over-year), while marketable natural gas production hit 718.3 million gigajoules (up 3.8%). These figures reflect steady growth in both renewable and fossil fuel sectors. Canada’s energy data is also tied to Sustainable Development Goal 7, which emphasizes affordable and clean energy access, underscoring the balance between economic growth and sustainability.

Conclusion

Across these sources, several themes emerge:

• Persistent fossil fuel reliance despite record renewable growth.
• China’s outsized influence on global energy demand and transition pathways.
• Electricity demand surges driven by industrialization, transport, and digital technologies.
• Geopolitical and climate risks expose vulnerabilities in energy systems.
• Canada’s evolving role as both a fossil fuel exporter and a clean energy contributor, with Indigenous ownership reshaping energy infrastructure governance.

Together, these insights paint a picture of an energy sector at a crossroads—balancing growth, security, and sustainability while navigating complex geopolitical and technological shifts.