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Can G7 Help Canada Bypass Russia To Become an Oil & Gas Superpower?
Can G7 Help Canada Bypass Russia To Become an Oil & Gas Superpower?
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Canada's ambition to surpass Russia as an oil and gas superpower hinges on G7 support and Europe's willingness to sever energy ties with Moscow. Russia currently produces 9 million barrels per day, dwarfing Canada's 5 million. The University of Toronto research highlights Europe's pivotal role—only a full ban on Russian imports could create the demand needed for Canadian expansion.
Structural challenges plague Canada's energy sector. Regulatory hurdles and climate activism constrain production growth, while Russia's centralized governance enables unfettered output. Without G7 intervention, Canada lacks the infrastructure and political will to close the 4 million barrel daily gap—let alone match Russia's 10 million barrel surge capacity.
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