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.
The Canadian oil and gas industry is well suited to provide reliable energy for a sustainable future.
- Energy demand is expected to grow, especially the demand for oil and natural gas. Producing more energy with a lower environmental footprint requires countries like Canada.https://www.iea.org/fuels-and-technologies/oil
- According to a new investment report from the Bank of Montreal, Canada ranks #1 of major oil producers in Environmental, Social, and Governance standards. Canada is well suited to provide cleaner, more sustainable energy to the world.https://energynow.ca/2020/06/new-investment-report-counters-misconceptions-about-the-oil-sands-cec/
- The Canadian oil and gas industry spent $1.45 billion on clean technology in 2016. This stimulates growth in technology that reduces emissions so Canada can provide clean, reliable energy.https://cleanresourceinnovation.com/preview-pdf/resource/CRIN%20Oil%20and%20Gas%20Innovation%20Ecosystem%20Presentation%202017.pdf
- These investments are already driving emissions down. The Alberta Carbon Trunk Line is expected to capture the CO₂ equivalent of more than 2.6 million cars per year.
Here are some stories that get it right, or mostly right.
Nelson Bennett writes that TMX will be an important driver of Canada’s economic recovery. With oil and gas being a large driver of the economy, having a downturn in the industry also affects Canada’s overall economic prowess. The project is expected to provide 5,500 jobs at its peak. Richard Masson, chairman of the World Petroleum Council-Canada expects producers to begin expansion projects in anticipation of more capacity in Canadian pipeline systems. With demand expected to return to pre-pandemic levels around barrels per day in mid-2022, the price of WTI is expected to increase to $50 per barrel. If there is enough pipeline capacity, this could incentivize producers to begin investing more with a lower differential between WCS and WTI.