Examine the marketing and global economic impact of the oil and gas industry.
Indicators for this outcome
(a) Examine the plans by some organizations to transition away from petroleum fuels towards electric vehicles.
(b) Investigate how the daily price of crude oil is determined.
(c) Analyze the factors which influence oil prices such as product supply and demand, societal and environmental policies, importing and exporting countries, and economic conditions.
(d) Explore how the political stability of Canada attracts investors to the petroleum industry.
(e) Identify the countries that use the greatest amount of crude oil.
(f) Investigate Canada’s trade agreements with respect to the purchase and sale of oil and gas, the impact on oil corporations and supply management.
(g) Explore how government incentives can change based on a booming or down turning market.
(h) Research the dynamic relationship that Canada has with import and export countries to meet national crude oil requirements.
(i) Compare the cost of petroleum production in Saskatchewan to the cost in other parts of the world.
(j) Discuss the impact of world events (e.g., war, major disaster and economic recession) on the petroleum market and local economy.
(k) Research the policies governing carbon emissions from a global perspective.
(l) Explore government regulations and permitting and the adaptations (e.g., pipeline construction and transportation methods) made by the industry to reduce carbon emissions.
(m) Research the history of the Boundary Dam Carbon Capture Project and its link to climate change initiatives.
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