This is a news compilation setting the record straight on the day’s top anti-oil and gas stories and providing counter-points to misinformation about the oil and gas industry.
Don’t conflate ‘peak oil and gas’ with the drop in demand due to COVID.
- Analysts are predicting a major bump in demand for oil once countries re-open, showing just how dependent the world economy is on petroleum. They expect Brent Crude to move from $43 to $83 a barrel in 2022.
- Yes, oil demand has dropped this year due to the COVID pandemic, by around 9.3 million barrels per day from 100 million barrels a day. In the long term, however, oil demand is expected to increase to 106 million barrels per day by 2040.
- Natural gas is also expected to increase to over 6000 billion cubic meters per day by 2040, replacing coal in many developing countries.
Here are some stories that get it right, or mostly right.
A new report from the Canadian Energy Centre measures Indigenous support for oil and gas development. Most communities who have publicly declared their position on oil and gas support producing these resources. In British Columbia, there is a 10 to 1 margin of support for oil development. 40 were found to support natural gas, with none opposed. In Alberta, out of 48 First Nations, 46 support oil development. 46 First Nations also supported gas development. Employment and income play a large factor in their support. The oil and gas industry has more Indigenous representation and pays more than others.