This is a news compilation setting the record straight on the day’s top stories about the oil and gas industry.
The UN is calling “to keep it in the ground” immediately without recognizing any implications.
Keeping it in the ground is not a solution to climate change. Promoting sustainable energy producers like Canada is.
- There is no doubt that renewables play a part in the world’s energy mix, but to call it a revolution is a misleading. Hydrocarbons make up 84% of the world’s energy sources.https://media4.manhattan-institute.org/sites/default/files/R-0319-MM.pdf
- Canada is a leader in “zero-emissions” technology. One single project in Alberta, the Alberta Carbon Trunk Line will capture 20% of oil sands emissions.
- Even if we switched to electric cars powered by renewable energy, we would still need petroleum because 50% or more of the materials in EV’s are made from petrochemicals.https://www.visualcapitalist.com/how-much-oil-electric-vehicle/
Here are some stories that get it right, or mostly right.
Well abandonment and clean up is predicted to bring jobs and a much needed boost to the oil and gas industry. It is estimated that the programs, incentivized by the government will help employ 15,000 to 21,000 people at its peak by next year or in 2022. The province of Alberta has so far received 36,000 applications for contracts during the first round and is expected to grow even more. This is getting people back to work, and taking care of the environment at the same time.