The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

The skyline of downtown Calgary.
The skyline of downtown Calgary.
(CHRIS BOLIN FOR THE GLOBE AND MAIL)

Global energy demand sparking long-term power shift to Calgary

It’s a tortoise and the hare tale in energy and mining, according to the top strategist at a division of  BlackRock Inc., a viewpoint that has big implications for investors and bankers in Canada’s resource sector.

Energy has much better prospects long term than metals, says Ewen Cameron Watt of the BlackRock Investment Institute, and it all has to do with China. So far this year, some metals such as nickel have been very hot. Oil and natural gas, by comparison, have been rising more slowly.