This is a news compilation setting the record straight on the day’s top anti-oil and gas stories and providing research and facts to counter misinformation about the oil and gas industry.
It’s time for RBC to stop funding climate chaos
SumOfUs petition stretches the truth about TD Bank’s climate commitments. Asks RBC to do follow suit, even though the bank already has significant climate commitments.
Canadian banks are funding Canada as the leader in clean technology and the drive to net zero. Climate chaos will result from SumofUs petitions trying to block global leaders in low emissions energy solutions like Canada.
- Despite claims that that TD Bank has committed to cutting all fossil fuel funding, they have only said they will not finance exploration in the Arctic National Wildlife Refuge. It is disingenuous for anti-oil and gas organizations to mislead the public about the position’s companies are taking on oil and gas exploration.
- RBC announced it has already become carbon neutral as of 2017 and is committed to reaching net-zero emissions and the need to develop a world-leading approach to clean innovation in Canada. This is an approach the oil and gas industry in Canada is already focused on.
- The oil and gas industry invests the most of any other industry in the expansion of clean technology to produce reliable energy while lowering environmental impacts. They spent $1.45 billion out of the $2 billion spent on clean technology in the 2016.
- Oil and gas companies in Canada are on their way to net zero. Whitecap Resources is capturing 2 million tonnes per year which is more carbon than they produce.
- The world’s population will grow to 10 billion by 2050 and more energy will be needed to provide the standard of living they will want. This BMO report confirms that the Canadian oil and gas industry is the best in the world. The globe is looking to Canada for solutions for providing more energy in the future with a lower environmental impact than today.
Here are some stories that get it right, or mostly right.
The Goldboro LNG in Nova Scotia is making headway as their partner Black Diamond Group and Wskijnu’k Mtmo’taqnuow Agency Ltd (WMA), a corporate body owned by the 13 Mi’kmaw First Nation communities in Nova Scotia, have been awarded the opportunity to “exclusively negotiate the contract providing for the construction of a lodge and associated amenities during the four-year construction phase” The estimated $720-million workforce lodge will house up to 5,000 workers. WMA will handle the lodge’s hospitality services. This is a unique opportunity for Indigenous communities in the Atlantic to participate in the oil and gas industry. According to Chief PJ Prosper, Nova Scotia and Newfoundland regional chief for the Assembly of First Nations, they are excited for the benefits that communities will see from the projects.