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.
Oil and gas divestment movement at the University of Victoria holds protest to push Bill McKibben’s ideological anti-oil and gas agenda.
If UVic’s anti-oil and gas activists wanted to see real action on the environment and climate change, they would support investment in Canada’s oil and gas industry which produces energy with the least environmental impacts than global competitors.
- The Divestment Movement was created by notorious anti-Canadian oil and gas activist Bill McKibben’s organization 350.org, a heavily biased group focused on killing the oil and gas industry.
- Despite the director of campaigns and community relations for the University of Victoria Students’ Society noting that the endowment had $400 million invested in fossil fuel, UVic Divestment’s own website notes that there is only $39.72 million invested in that sector.
- While UVic’s divestment movement acknowledges that fossil fuels have helped improve society, their calls for divestment do not differentiate between responsible producers of energy and irresponsible producers of energy, which there are in both the oil and gas and ‘green’ energy industries.
- Even U.N. Special Envoy on Climate Action and Finance Mark Carney opposes the divestment movement and favors financing all companies who are improving carbon efficiency whether they are in the oil sands or renewable energy.
- Divesting from fossil fuel stocks does not reduce the demand for hydrocarbons which will be increasing as the world population grows to 10 billion in 2050. We will need countries like Canada who can supply this demand with the lowest environmental impacts.
http://divestmentfacts.com/wp-content/uploads/2017/04/Bessembinder-Report_Costs-for-Students-Faculty-and-Stakeholders_4_29.pdf / https://research-ca.bmocapitalmarkets.com/documents/140A6529-CE63-4B90-A627-06768A001783.PDF
- The oil and gas industry invests more than 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 2016.