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.
Article citing a flawed activist report on Trans Mountain continues to push misleading information about the project.
Despite activist talking points, there very much is a market for Canadian oil in Asia.
- The world’s population is growing and will require countries like Canada to supply the energy demand growth that goes along with it, with the lowest environmental impacts. According to the most recent OPEC report, the demand for oil and gas will be increasing to 74 million barrels per day in developing countries.
- The article rehashes the claim that Asia doesn’t have the refinery capacity or demand for Canadian crude. However, Refining capacity in Asia is massively expanding by 2024 and will create a capacity for Canada’s oil to be refined and supply energy to those developing countries, especially in India and China
- In 2018, the Port of Vancouver shipped 4.6 million barrels worth $335 million dollars to China at almost $54 per barrel, this was well above the discounted price Canada received from U.S. importers.
- Reliance Industries, an Indian oil refiner has just agreed to purchase 2 million barrels per month of Canadian crude because there is not enough production from Mexico and Venezuela, whose oil is similar to Canada’s.
- This study by Navius Research shows that the project can help lower global emissions by 1,600,000 tonnes and fight climate change instead of dramatically increasing them.
Here are some stories that get it right, or mostly right.
Check out this video from WeMaple!