Econ 366 Charts Week, Winter 2024
April 08, 2024
This is a special feature that I am hoping to run every term with my University of Alberta Economics (ECON 366: Energy Economics) students. I’ve modeled their last assignment off Jason Kirby’s Economists’ Charts Week special issues in Maclean’s and the Globe and Mail. Students have submitted a chart that is particularly important to them and, where they felt comfortable doing so, have provided LinkedIn information and a little bit about themselves too. Importantly, this was an optional assignment and some students chose not to do it preferring to focus on other courses at this busy time of year.
If you’re looking to hire an economics student, make sure to reach out to some of the student on here, to me, or to the University of Alberta Faculty of Arts careers office! If you like their charts, connect with the authors on LinkedIn and tell them so!
Decades of Renewables:Global Production
Alim Dhanani
The chart offers a comprehensive view of global renewable energy trends over the past five decades. By visualizing this data, readers can gain insights into the worldwide evolution over this extensive period. It provides perspective on how increased usage of renewable energy is a global phenomenon, crucial as societies navigate their transition to more sustainable energy sources in the fight against climate change.
The graph helps showcase the progress made in the adoption of renewables in many regions, while also highlighting those that may require additional support, especially those forecasted to experience significant surges in energy consumption.
As we aspire to a more sustainable future, the insights gained can drive initiatives to assist both Canada and the world in adopting renewable energy sources.
My name’s Alim, and I am in my final semester as a Computer Science major, which has given me many opportunities to improve my problem-solving skills. I’ve also enjoyed exploring courses outside my major, particularly in Economics. Proficiency in programming languages has been instrumental, especially in data analysis and management tasks, such as developing a web application last year, which also required robust security. Similarly, the graph above required careful manipulation as the dataset was vast.
Outside academics, I’ve been actively involved in campus life, participating in clubs like Rotaract and the Squash Club. My interest in these clubs led me to take up executive positions, contributing to their smooth operation.
I aspire to apply my skills to impactful projects and continue expanding them. I’d be glad to address any questions or comments you may have, and connect through LinkedIn.
Provincial Household Energy Consumption by Source
Andrew George
This chart display household energy consumption across Canadian provinces from 2011-2021, categorized by electricity, heating oil, and natural gas. I chose this visualization because of the recent shift towards more sustainable energy, highlighted by Canada Net-Zero 2050. Sustainable energy usage within homes reflects Canada’s commitment for reaching this goal. What stands out is the diversity between each province/region. The Western Provinces rely heavily on Natural Gas, while the Eastern Provinces rely on Heating Oil. Energy policy impacts were revealed, along with consumption trends. For example, there has been an increased usage in electricity, so that may indicate a successful policy towards electrification. Although 2021 was a few years ago, change and adaptation in consumption patterns across Canada continue to resonate today, and should continue to be monitored, especially as we march towards 2050.
My name is Andrew George, and I am a 2nd-year Economics student at the UofA. I plan on pursuing the certificate in Finance, or a minor in Business. I am an avid sports fan, having played soccer for most of my childhood. I’ve pivoted this energy towards the gym, but I still love spending time outside, and I am extremely thankful for Alberta summers. I also am a first degree black belt in Taekwondo.
This class has been one of my favorites so far at university. Living in Alberta, you’re exposed to the oil and gas industry, so why not try and learn about it. It is an interesting topic and I have appreciated the skills learned in this class, such as R, which I had no knowledge of prior and has become a favorite of mine. If you have any questions, comments, or would just like to reach out, feel free to do so through LinkedIn!
Emission Intensity of Co-Generation Facilities in Alberta
Austin Hanlan
I chose to analyze the emission intensity of co-generation facilities in Alberta due to the potential impact of the federal government’s proposed Clean Electricity Regulations (CER) on co-generation. Currently, the CER would apply a 30 - 40 tonne/GWh emissions cap to all sources of electricity generation in the country; however, many co-generation facilities have said they would stop exporting to the grid with these regulations as it would not be economically feasible for them - this would threaten a major portion of Alberta’s electricity supply.
The government has indicated they will likely adjust the performance standard to better align with current technology; however, it’s not clear whether co-generation facilities will be exempt. Given this uncertainty, it’s interesting to see which type of co-generation facilities are best positioned to meet emission performance standards in the case that the finalized regulations extend to them.
I’m a fourth-year Bachelor of Commerce student at the Alberta School of Business currently majoring in Finance and pursuing a Certificate in Sustainability alongside my degree. I’m very interested in the energy transition and I enjoy learning about new policies that help us efficiently work towards our net-zero goals. After graduation I am starting a career in consulting; however, I would be interested in working in an economics-focused role in the future. I’m always happy to chat and meet new people - feel free to reach out to me on LinkedIn!
Will the world gasoline price recover? (30 chars)
Xinhao Chen
My name is Xinhao Chen, a 4th-year computer science student from abroad, living in Canada since 2019. The COVID-19 pandemic profoundly impacted my living experiences, particularly noticeable through fluctuating fuel prices. As a driver, I observed that the fuel price decreased in 2020 due to the pandemic, and people do not require as much gas as usual. Most of the public transportation halted in the year of 2020. The decrease in demand result in a decrease in price while the supply curve stayed the same.
Based on the graph provided, the impact for gas-export countries such as USA and Canada is less than those gas-import countries. The internal buffers, including strategic reserves and diversified economies, provided a degree of resilience against the sharp declines in global oil demand. On the other hand, Countries requiring to buy oil from other countries ,such as France and Germany , depend a lot on the global market for oil.The consequences from COVID-19 would be more influential compared to Canada.
Moreover, as the world gradually emerged from CVOID-19, the fuel prices began recovering. This resurgence in prices is influenced by a complex mix of factors, including different strategies adopted by various countries and different degree of dependence for this country to the oil.
Reference: Data from the website :“https://open.canada.ca/data/en/dataset/db90f229-be24-468a-bbce-46f710e7af76” by Government of Canada , Gasoline report - international gasoline prices
Canada vs UK Energy Generation by Source
Ethan Griffiths
The side-by-side graphs comparing electricity production in Canada and the UK from 2010 to 2040 present a clear picture of the energy paths these countries are taking, and the reliance placed on individual sources for electricity generation by each country. The dominant blue in Canada’s graph signifies a strong reliance on hydroelectric power to lead Canada to a net-zero emissions future but still with a reliance on natural gas to help meet energy usage for Canada, whereas the UK’s graph displays an approach to diverse its energy production, shown by the variety of colours, that indicates a transition toward a more diverse mix of renewable energy sources future with the elimination of non-renewable sources. These graphs are more than just representations of energy production, but they are essential for evaluating the success of each country’s energy policies, especially in the context of global efforts to reach net-zero emissions. They show us not only where we are but also highlight the importance of the energy choices as we continue to strive for a net-zero world.
I’m an international student from the UK with an interest in economics, geography, and the dynamics of the renewable energy sector. Witnessing the UK’s transition to sustainable energy and comparing that to Canada’s, and especially Alberta’s, reliance on traditional oil and gas drew my interest . This prompted me to compare the energy trajectories of both countries and how they plan to reach the goal of net-zero emissions.
Canadian Electricity Generation
Claire Hughes
This chart, derived from ‘Canada’s Energy Future 2023,’ delineates projected electricity generation under current and evolving policies, sorted by region, with a focus on the top 4 electricity producers. A dashed line demarcates historical and forecasted production. Analyzing energy data through policy lenses is beneficial due to the sector’s policy-driven nature. Provinces like Quebec and British Columbia heavily rely on hydroelectric power, contrasting with Alberta’s emphasis on natural gas. Ontario is poised for a substantial increase in electricity generation, particularly if Canada pursues net-zero emissions goals. This visualization underscores each province’s role in achieving national objectives while shedding light on regional variations in energy production strategies and policies; offering insights for policymakers and stakeholders, and guiding strategic decisions. Tracking these trends is essential for adapting to the evolving energy landscape and ensuring a resilient energy system. It highlights the potential for collaboration among provinces to optimize production and address challenges.
I’m studying Economics and Psychology and have a finance certificate on the side. I’m really curious about how the energy world is changing, especially with all the concerns about climate change. I’m interested in how energy rules, the economy, jobs, and how we keep the lights on all fit together in Canada. I’m also looking at how different parts of Canada make and use electricity and how that affects prices and stuff. I think it’s important to look at the energy world in a big picture way, seeing how it connects with other stuff and what impact it has. After I finish school, I want to work in the energy field in some way. I’m excited about new technologies that can make things work better and be better for the environment.
AECO vs JKM Natural Gas Prices
Jack LeBlanc
My chart compares the natural gas prices of four key benchmarks to understand the impacts of LNG Canada better once completed. Highlighting the price differences between the Alberta Energy Company and the Japan Korea Marker will give us a greater understanding of the potential gains from exporting Albertan natural gas to Asian markets. In addition, I have included the historic price of the Henry Hub and the Title Transfer Facility markers, all in USD/MMBTU. I find this topic particularly fascinating, as it will be incredibly impactful for the Canadian and Albertan economies, allowing us to gain higher prices for the same products already being developed.
My name is Jack LeBlanc, and I’m a third-year economics and business student with a deep interest in Canada’s dynamic energy sector.
A Breakdown of the World’s Largest Energy Producers
Jarod Chiasson
To meet the challenge of curbing climate change, there is an increasing consensus that the world must shift away from fossil fuels as a source of energy generation. To understand if this transition has been occurring, I decided to analyze the world’s top energy-producing countries to learn how their sources of energy production have changed over time. While many countries have gradually reduced their share of coal-produced energy, some still remain dependent on its use, such as China and Australia. Others, like India and Indonesia, have increased their dependency on coal over recent years. Focusing on renewables, China and India have seen steady increases in their share of energy derived from these sources, while other advanced economies like Canada and the United States have experienced little change. Several of the world’s largest energy producers still have insignificant shares produced by nuclear and renewables, which could prove costly in the effort to curb global emissions. Given that the COP28 agreement calls for a tripling of renewable energy capacity by 2030, it will be compelling to observe which of the globe’s most prominent players will take the lead in such an arduous task.
I’m currently a fourth-year student in the honours program for economics at the University of Alberta. Before joining the economics program, I was a student in the faculty of science for two years. While I’ve always been interested in understanding how the world works, I found that the skills and knowledge being taught in my science courses lacked much meaning outside of the lab setting. I was attracted to economics predominantly because of its focus on examining and analyzing real-world issues. Outside of class, I’m a musician for the University of Alberta Concert Band and a performer for the Edmonton Elks Drumline. I’ve also been an active member of the Economics Students Association, serving as the group’s VP External for the 2023-2024 school year. I am currently open to work over the summer before the final year of my program, so if you would like to connect, feel free to reach out either to my LinkedIn or email (jkchiass@ualberta.ca).
A Future with Green Hydrogen: Forecasts Under Varying Energy Policy
Jillian Schwartz
The emerging trend of green hydrogen in Canada holds significant importance due to its potential to revolutionize the country’s energy landscape. As a clean and sustainable fuel produced from renewable sources such as hydroelectric, wind, and solar power, green hydrogen offers a pathway to decarbonize key sectors like transportation, industry, and heating. Canada’s abundant renewable energy resources provide a competitive advantage in green hydrogen production. By shifting towards electrolysis-powered production methods, Canada aims to significantly increase green hydrogen output by 2050, surpassing natural gas with CCS hydrogen production. This transition aligns with Canada’s climate goals, reducing reliance on fossil fuels and curbing carbon emissions. It represents an opportunity to bolster Canada’s position as a global leader in clean energy innovation, attract investment, create jobs, and reduce greenhouse gas emissions. Monitoring this trend is crucial for policymakers, investors, and industry stakeholders committed to transitioning towards a low-carbon economy. This CER link provides access to the data set.
I am a fourth-year Economics Major at the University of Alberta, concurrently practicing as a Registered Nurse. My dual interests stem from a shared motivation: to contribute towards shaping a sustainable future for both Albertans and Canadians. Understanding the intricacies of economics is crucial in this endeavor, particularly given Canada’s reliance on energy market revenues to facilitate equalization payments. It is imperative to grasp how to sustainably maintain this revenue stream, ensuring consistent funding for provinces. This funding is essential for delivering vital services that support the well-being of our citizens and foster healthy communities.
Canadian Agriculture CO2 Emissions by Source
Kai Watrin
The agriculture industry is constantly under fire for their emissions, particularly with cattle and fertilizer use. The challenge here is that the population is ever-increasing, so agriculture needs to be intensified to meet the growing demand for food. Eliminating or reducing increases in agricultural emissions while increasing production would be highly beneficial because it means production is becoming more efficient and GHGs in the atmosphere are decreasing. The graph below presents how emissions have changed since 1990 for different agricultural processes. The most significant portion of the graph is enteric fermentation or ruminant digestion (predominantly cattle), which has a notable decline from 2005-2010; this change can be attributed to the BSE crisis pushing cattle producers out of the market. Most other agricultural emissions sources show little change over time in this graph.
Data from:Canada ECCC
I grew up on a farm just outside of Edmonton so the agriculture industry has always been home to me. I’m in my fourth year of a BSc. in Agriculture with most of my courses being agriculture focused. After graduation I plan to go back to the farm full-time to grow my own business. In my career I plan to move my farm, and encourage others, towards a greener future.
Contextualizing Canada’s CCUS Future
Michael Witt
Carbon sequestration and storage are terms increasingly thrown around in Alberta; we’re told that ‘CCUS’ is a saviour technology that’ll allow us to hit emissions targets and retain our standards of living. Using IEA data I have depicted the history of CCUS projects worldwide, by region, and the future in Canada, by province. From the first graph we can see which regions largely do not plan to combat emissions via CCUS: the Middle East, Africa, and South America. Also, while storage-focused CCUS is popular in Europe and North America, the fate of much of the carbon is intended for oil recovery (EOR) or unknown. But when looking at CCUS purely in Canada we can see the reliance on it for Alberta’s future and we can see that, as of now, Alberta is investing in primarily storing emissions. Moreover, only Western Canada is betting on CCUS so far.
I am Michael Witt, a final-year undergraduate student, majoring in Natural Resources, Energy and the Environment in the UAlberta School of Business, with a Certificate in Sustainability. I find energy fascinating and enjoy researching energy policy in order to gain a better picture of what the future will look like. Currently, I am finishing my studies with less than a month until graduation; I am looking for a job in the energy sector afterwards–if you are interested please contact me at the email address above. In my spare time I love to watch and analyze movies, read, workout, and spend time admiring the River Valley.
Coal-Zero Alberta
Seth Germsheid
Twenty years ago, the majority of Alberta’s electricity was generated via coal. This year, coal generation reached zero for the first time ever. How did we get here? In 2007, a $15/tonne carbon price was introduced, with a “free emissions” credit given out based on historic carbon output. While an excellent first step, this policy had the drawback of giving out more free credits to historically high emitters, essentially subsidizing the heaviest polluting sources of electricity. In 2018, Alberta introduced the Climate Leadership Plan, which, among other goals, aimed to phase out coal-generated electricity by 2030. This plan modified the existing carbon pricing policy, altering the free credit allocation to be uniform across all electricity sources, and increasing the price. The effect? Coal has been almost entirely replaced with natural gas, and Alberta’s electricity grid is the cleanest it has ever been.
Hi! My name is Seth Germsheid. I am a fourth-year Economics student here
at the University of Alberta, and will graduate this Spring with a
certificate in Economics and Management of Natural Resources, Energy,
and the Environment (EMNREE). Through this certificate, I have had the
privilege of studying under many amazing Professors and have had the
opportunity to apply my skills through a hydrogen-energy research
project with PrariesCan, which is nearing completion. I am passionate
about all things energy and hope to enter the field post-graduation.
Personally, I am an avid hiker and love all things outdoors; here’s
hoping for a smoke-free summer! Feel free to contact me via email or linkedIn.
Power Generation - CAN & AB
Tegen Hilker Readman
I chose to graph electricity generation by generation type for Alberta and Canada from 2008 to present. This particular data set was interesting because many different permutations of data were available. It was interesting to see the cyclical generation pattern during the winter seasons. It is fascinating to see how much renewable energy, such as wind and solar power’s peak generation increased over a few short years. Going forward, we will see a lot more growth in renewable energy, contributing to a less emissions-intensive future.
If you want to check out the source code
My name is Tegen and I am a second year computing science student, doing a minor in economics. Outside of school I enjoy Olympic Weightlifting at the University’s Powerlifing Club and live music. If you have any comments or questions, don’t hesitate to reach out. Thank you!
Examining Alberta’s Final-Use Energy Demand by Various Sectors in Different Climate Policy Scenarios
Will Cebuliak
As federal, provincial, and global policies are adopted to mitigate the impacts of climate change, the end-use energy demand patterns of commercial, industrial and residential sectors of the economy are bound to evolve. Furthermore, changing end-use demand trends present implications for energy market prices, production, and emissions, with each policy posing different economic and environmental consequences. Overall, the chart demonstrates how the maintenance of current policies will result in a constant or increasing end-use demand trend for each sector in Alberta, whereas Canada net-zero, and global net-zero energy policies are projected to result in a decreased end-use demand, and evolving proportions of energy types demanded. In future versions of this chart, it will be interesting to see if implemented policies resulted in a reduced end-use demand as projected (if policies are indeed implemented), and to discover if the proportion of energy types demanded actually changed as intended by these policies.
My name is Will Cebuliak, and I’m in my fourth year of the University of Alberta’s Urban and Regional Planning program. During the second year of my degree, I decided to declare for a minor in economics to strengthen my understanding of the economic forces that shape and support our communities. Throughout my studies, I have been interested in researching climate change adaptation strategies adopted by municipalities, and have gained a perspective as to how energy markets, and energy transitions impact Canadian communities over the duration of this course. In addition to my studies, I am a member of the Golden Bears track and field and cross-country running teams, and have enjoyed exploring Edmonton’s river valley trails during my time in the city.
Edmonton Temperature Projections
Justin Demers
These graphs look to demonstrate the consequences of differing climate action plans on the air temperature in Edmonton. Using data from the Environment and Climate Change Canada website, I’ve demonstrated the differences between low, moderate, and high emissions scenarios (RCP 2.6, 4.5, 8.5 respectively). Canada is currently looking to lower its emissions, and these graphs show just how critical it is to reduce our emissions. The RCP 2.6 emissions scenario would cause the projected change in temperature to be one degree Celsius, compared to double the increase in the RCP 8.5 scenario. This data emphasizes the importance of reducing our emissions as well as exposing the warm future we are heading towards.
My name is Justin Demers and I am a 3rd year economics major interested in both economics and mathematics. I am planning on studying to become a math teacher with the education after-degree program. I am fluent in both French and English and plan to teach in French immersion. Economically, I am interested in more micro economic concepts like firm behaviour and strategy. In particular, I am interested in Game Theory, both from and economic and mathematical lens.
Natural Gas Prices in Alberta
Ghunaym Yahya
The Carbon Tax has become a central point of discussion for Canadians, particularly those in Alberta. Introduced in 2019 at 20 dollars per tonne, it has steadily increased, reaching $80 per tonne on April 1, 2024, with plans for further increments until 2030. This policy addresses the negative externality of pollution, aiming to hold polluters accountable for their emissions. The significance of this graph, depicting Marketable Natural Gas prices (Adjusted for Carbon Pricing) in Alberta with a marker for the introduction of the tax, cannot be overstated. It serves as a visual representation of how carbon pricing influences market dynamics, potentially impacting consumer costs and business strategies. As the tax escalates, it becomes imperative for Albertans to closely monitor these trends, as they hold implications for both economic decisions and environmental stewardship.
My name is Ghunaym Yahya, in my fourth year studying Computer Science and Economics with a keen interest in Data Science. I’m a big sports fan, and I love analyzing stats to uncover what they really tell us. This course has been a highlight for me, equipping me with skills to work with data in ways I never thought possible. When I’m not immersed in sports, I enjoy adding to my watch collection and keeping fit at the gym.