This is a news compilation setting the record straight on the day’s top stories about the oil and gas industry.
Manitoba Energy Justice Coalition is right to want to protect the environment but their oil is dead narrative and the idea that Indigenous relationships with energy companies are cold at best, isn’t true.
- Even with the COVID shut down and dramatic drop in oil prices early this year, oil is already making a recovery. Until a supposed rapid-transition to renewable energy happens, oil and natural gas will be powering the economic recovery.
- The Federal Minister of Natural Resources Seamus O’Regan notes that technology like carbon capture and sequestration, which is already being deployed in the oil and gas industry, will be one of the ways to reach “net-zero” by 2050.
- The Indian Resource Council who represent 130 First Nations recently sent an open letter to Prime Minister Trudeau calling for more support to the oil and gas industry. Their royalties and revenues have dropped dramatically, which means less support for elder services, housing and communal programs.
- A pipeline through Northern Manitoba would be able to create jobs and an economic boost to remote and Indigenous communities, helping them battle poverty and other issues.
Here are some stories that get it right, or mostly right.
Fossil Fuels Still Supply 84 Percent Of World Energy — And Other Eye Openers From BP’s Annual Review
BP’s annual report shows that despite gains in renewable energy, oil and gas still comprise more than half of the world’s energy demand. Energy consumption increase 1.3% which brought natural gas demand up 2%. Renewables are making their mark, however the increase and uptake is not going as fast as some proponents would like. This means that to reduce emissions and provide cleaner energy, it is important that the oil and gas industry continue to do what it does best; invest in and use that technology.