The importance of energy | Imperial (2024)

Energy growth is directly linked to well-being and prosperity across the globe. Meeting the growing demand for energy in a safe and environmentally responsible manner is a key challenge.

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In this time of global market uncertainty one thing we do know is that the world needs energy -- and in increasing quantities -- to support economic and social progress and build a better quality of life, in particular in developing countries. But providing this energy around the globe comes with a responsibility and commitment to developing and using our resources responsibly. We are committed to protecting both people and the environment and making positive economic contributions.

For developed nations such as Canada, reliable and affordable energy enables the products and services that enrich and extend life. Energy powers computers, transportation, communications, cutting edge medical equipment and much more.

For developing nations, the need for reliable and affordable energy is more fundamental. It can improve and even save lives. In these countries, reliable energy supports expanded industry, modern agriculture, increased trade and improved transportation. These are the building blocks that help people escape poverty and create better lives.

Today most of the energy the world consumes comes from hydrocarbons, with crude oil being the dominant source of transportation fuels. Even with significant strides in improved energy efficiency, global energy demand is expected to rise by about 25 percent from 2014 to 2040.

All energy production must increase to meet this growing demand from both developed and developing countries. Renewables alone will not keep up with the demand. All sources of energy are needed. This means a rising demand for oil and gas, which given the depletion of existing fields, must increasingly come from remote and difficult areas and unconventional sources like oil sands.

The economic benefits

For more than 60 years, the energy sector has provided a foundation for the Canadian national economy by providing reliable and affordable energy, rewarding jobs, tax and royalty revenues and technological innovation.

Today, every dollar invested in the oil sands creates about $8 in economic activity, with much of that value generated outside Alberta -- in Canada, the United States and around the world.

It’s widely understood that almost every community in Canada has been touched by oil sands development through the stimulating impact it has on job creation and economic growth. Industry-watcher estimates for the next decade say Canada’s oil and gas industry will sustain an annual average of 894,100 to 1,036,100 direct and indirect jobs across the country.

According to the Canadian Energy Research Institute (CERI), Alberta will earn $350 billion in royalties and $122 billion in provincial and municipal tax revenue from the oil sands by 2035.

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Our history

Canada, as a country, was only 13 years old when The Imperial Oil Company was formed by 16 oil refiners in Ontario. As Canada has grown, Imperial has grown with it, sharing its prosperity and weathering the tough times.

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Our management team

Our executive management team represents many years of industry and leadership experience.

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The importance of energy | Imperial (2024)

FAQs

The importance of energy | Imperial? ›

Scientists define energy as the ability to do work. Modern civilization is possible because people have learned how to change energy from one form to another and then use it to do work.

What is energy and its importance? ›

Scientists define energy as the ability to do work. Modern civilization is possible because people have learned how to change energy from one form to another and then use it to do work.

Why is energy important in real life? ›

Heating and cooling our homes, lighting office buildings, driving cars and moving freight, and manufacturing the products we rely on in our daily lives are all functions that require energy. If projections are correct, we're going to keep needing more.

Why is energy important for us? ›

Energy powers computers, transportation, communications, cutting edge medical equipment and much more. For developing nations, the need for reliable and affordable energy is more fundamental. It can improve and even save lives.

Why is energy important to matter? ›

Energy drives the cycling of matter within and between systems. In nuclear processes, atoms are not conserved, but the total number of protons plus neutrons is conserved.

What will happen if there's no energy? ›

We will encounter a power failure

The consequences do not stop at the inconvenience of lost phone signals and dead mobile phones, but your water supply would soon stop pumping clean water. Without electricity, there would be no cash machines, no lifts, no power to keep the factories going, and no petrol pumps.

What is the most important energy in life? ›

The most important and inexhaustible source of energy is the sun. Solar energy is harnessed by green plants by the process of photosynthesis for making food and the biomass which is subsequently used as energy source by animals including man.

How does energy relate to life? ›

In summary, all living organisms require energy for both survival and reproduction. Energy is the ability to do work, where work is done when a force moves an object. While the sun provides energy for our entire planet, the sun's energy must be transformed into more usable forms for living organisms.

What is energy in spirituality? ›

Essentially, it is the energy generated by the inner self, which religious people call the soul. The level of one's spiritual energy is determined by good deeds and our values and convictions.

How does energy affect us? ›

Energy has both positive and negative impacts on societies. Access to abundant, affordable, secure, safe, and clean energy is beneficial for humans. But energy extraction, transportation, and use can have negative consequences to the health, environment, and economics of a society.

How does energy make your life comfortable? ›

Energy consumption has a significant impact on quality of life. Studies show that higher energy consumption is associated with higher quality of life, as evidenced by improvements in physical comfort, economic structure, and lifestyle.

What are the basics of energy? ›

The basics of energy include using an energy source and converting part of its energy into useable energy products. During the process, the energy can be transformed in several different steps and into several different forms. 174000 TW. Of this, about 70% is absorbed in the atmosphere and at the surface of the earth.

How is energy a matter? ›

Every matter contains atoms and atoms make up the matter. Energy is defined as the ability to do some sort of work. According to Einstein's theory of Relativity, energy can be converted into matter and matter can be converted into energy. Energy and matter are one and the same thing but in different contexts.

Is energy the most important thing in the universe? ›

Energy is the glue of our universe, and everything that happens within it: making things warmer, cooler, faster, slower, bigger, smaller, visible, audible, electrically charged, or chemically changed.

What is the meaning of energy and life? ›

Description. ^Energy and Life addresses the subject of energy in biological systems. It concentrates on the way in which energy flow through plants, animals and bacteria drives the primary processes of life such as metabolism, movement and ion transport.

How does energy relate to the real world? ›

Energy is the ability to do work and is abundant in our everyday life. Energy comes in many forms – thermal, radiant, kinetic, potential, electrical, chemical, nuclear or mechanical – and exists as a part of everything we do, from walking to school or sending astronauts into space.

What is the meaning of energy in life? ›

Answer: Energy and Life addresses the subject of energy in biological systems. It concentrates on the way in which energy flow through plants, animals and bacteria drives the primary processes of life such as metabolism, movement and ion transport.

What would the world be like without energy? ›

Without that power, electricity grids would see widespread blackouts. Within a few weeks, a lack of oil — still the major fuel used for trucking and shipping goods worldwide — would impede deliveries of food and other essential goods.

Why is energy important for kids? ›

Your human energy is what gives you the ability to jump, run, play, yell, or do anything else that involves moving your body, or even using your brain. Because we can measure that energy, we know how much it takes to do most of the things we do with our bodies, like running, doing jumping jacks, or riding a bike.

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