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.
These student activists want to take away social license from responsible Canadian oil and gas companies, but other less responsible producers will fill the gap for demand.
Divesting from Canadian oil and gas companies will not reduce emissions, investing in them will.
- Divesting university portfolios away from oil and gas doesn’t change the increasing global demand for reliable energy provided by oil and gas as the population grows from 7 to 9 billion.
- Measures to try and reduce oil and gas production from a responsible producer like Canada can lead to carbon leakage, and increase global emissions.
- Some studies show that divesting from oil and gas companies could also end up costing students in increased tuition.
- Between 2006 and 2016, the oil and gas industry spent $24.5 billion, or 42% of the total environmental spending in that period.
- Industry investment in clean technology has tangible results for reducing emissions. This project from Imperial Oil is expected to reduce emissions from oil extraction by up to 90%.
Here are some stories that get it right, or mostly right.
A new poll from Ipsos commissioned by the Montreal Economic Institute has shown that Quebecers are warming up to the idea of oil and gas exploration in their province. Dr. Germain Belzile notes that 50% are now in favour of exploring for oil and gas. This, Belzile says, is a 5% increase from last year. They are also warming up to the idea of Western oil. 71% of Quebecers prefer oil from Western Canada, while only 8% prefer importing oil from the United States. Moreover, 41% of Quebecers prefer pipelines as the method of transportation. Clearly there is social license in that province for more oil and gas, and according to Belzile “it seems increasingly absurd to maintain that no new pipeline should be built on Quebec land”.