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.
Recent STAND.earth report on subsidies to natural gas industry in B.C. misses critical points.
The natural gas industry in British Columbia pays billions in revenue to the province and supports local business and Indigenous communities.
- According to the Montreal Economic Institute, despite claims by anti-oil and gas organizations, most of the “subsidies” they identify are just a particular tax treatment that is common to the natural resources sector as a whole.
- A study by the Conference Board of Canada found that B.C. could see a windfall in revenue of $94 billion between 2020-2064 from natural gas and LNG.
- Projects like LNG Canada create the cleanest LNG in the world and is expected to be able to reduce global emissions by 60 to 90 million tonnes per year.
- Indigenous people are getting hired and playing a part in resource production like the 350 Indigenous workers currently taking part in Coastal GasLink construction.
- B.C. has some of the most stringent environmental regulations in the world and helps Canada be the #1 ranked top 10 oil and gas producing country for ESG.
Here are some stories that get it right, or mostly right.
In a monumental move by TC Energy and Indigenous communities, the builder of Keystone XL has inked a deal with Natural Law energy, a company that represents four First Nations in Alberta and one in Saskatchewan. They have signed a memorandum of understanding that will give the Indigenous company a minority stake in Keystone XL that will provide economic benefits to the communities represented by Natural Law. The final agreement is slated to be finished in Q4.