This is a news compilation setting the record straight on the day’s top stories about the oil and gas industry.
Letting Canada’s oil and gas industry die for a ‘green recovery’ would be reckless policy.
- Energy exports make up 1/5th of the Canadian total, mostly comprised of oil and gas.
- The energy extraction and mining industry provide the highest dollar value per hour worked to the economy.
- While it is true that Canada has more emissions per-person than most other countries, we are still only a small fraction of total global emissions. 1.51% according to the World Resources Institute
- In terms of emissions reduction, the oil and gas industry is already axing emissions through technology like Carbon Capture and Sequestration, with one project in Alberta already removing 20% of oil sands emissions per year.
- Non-hydro power renewables will be a part of Canada’s energy mix. Right now, however, they only represent 6.1% of electricity generation and 3.1% of total energy consumption. The CER expects them to grow, but most of the gap from Canada’s retirement of coal will be filled by natural gas. We’re going to need a lot of energy to kickstart the economy
- Oil and gas are also essential to a just recovery for Canada’s Indigenous groups. Groups like the Athabasca Chipewyan First Nation, traditionally against the oil sands industry, expressed support for Teck’s scrapped Frontier mine in February.
Here are some stories that get it right, or mostly right.
Whitecap Resources is making waves with their Carbon Capture project down in Estevan, Saskatchewan. Whitecap purchases C02 from a coal-fired power plant in Estevan, and also from a coal gasification project in North Dakota and use it to help extract oil. It stores 1.8 million tonnes per year, which is more than their total direct and indirect emissions. Since 2000 it has stored over 31 million tonnes.
In the echoes of calls for support for the oil and gas industry by Indigenous groups, the royalties, and revenue seen by First Nations have been decreasing. These are important to the communities that receive them as they provide financial support for initiatives for elders, youth, and housing.