Evaluating energy options

February 02, 2009
Written by Farm Credit Canada
Feb. 2, 2009, Regina, Sask. — A new Farm Credit Canada (FCC) report suggests that now is the right time for those involved in Canadian agriculture to examine their energy needs and options for the future.

FCC’s Knowledge Insider says that even through there have been recent drops in oil prices, (from $147 U.S. per barrel in July 2008 to under $40 U.S. per barrel at the end of 2008), higher energy costs are anticipated in the longer term.

“Throughout the world, energy supplies that are inexpensive, safe and easy to recover are increasingly scarce,” says Brenda Frank, senior director of Strategy and Business Insight at FCC. “Many experts agree that we are at or near peak oil production. These factors suggest that higher energy prices will likely return.”

fcc_logoFrank says today’s oil and gas prices are an opportunity for farm and agribusinesses operators to re-evaluate their current energy practices and plan how they will manage their energy needs in the future.

“This temporary respite from higher energy costs offers a window for agriculture producers and businesses to develop a transition plan that will help them succeed in the energy environment of the future,” explains Frank. “We believe Canadian agriculture is well-positioned to take advantage of new and alternative energy sources and conservation methods. We offer several examples in our report.”

Knowledge Insider looks at energy through the eyes of Canadian agriculture and highlights short and long-term trends that will impact oil price, supply, and demand. Topics covered include world energy supply, growing demand, particularly in emerging economies, energy exploration, refinery construction, weather, speculation, forward-contracting and quotas established by the Organization of Petroleum Exporting Countries (OPEC).

Frank says agriculture is uniquely positioned to influence a sustainable energy future. “Whether growing crops for biofuels, using rural land for wind and solar installations or simply having easy access to waste materials for biogas, producers and industry entrepreneurs understand the conversion of energy from biomass.”

The report also offers practical tips and tools to help producers develop their long-term plans in the context of our energy future. Download a copy at www.fcc-fac.ca in the Learning Centre.

FCC operates 100 offices located primarily in rural Canada. It has a healthy portfolio of more than $15 billion and 15 consecutive years of portfolio growth.

Add comment

Security code

Subscription Centre

New Subscription
Already a Subscriber
Customer Service
View Digital Magazine Renew

Most Popular

Latest Events

Tue Jun 11, 2019
Grower Days
Tue Jun 18, 2019
Cultivate '19
Sat Jul 13, 2019
ASHS Conference
Mon Jul 22, 2019

We are using cookies to give you the best experience on our website. By continuing to use the site, you agree to the use of cookies. To find out more, read our Privacy Policy.