An aggressive emissions cap will hurt Canada and the world

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Right now, European countries that moved too far, too fast on switching to renewables are paying a steep price, forced to consider drastic steps like energy rationing, restricting warm water use and restarting mothballed coal plants. Even with more renewables coming online every day, the world still needs oil and gas, which is why European countries have remained reliant on Russia despite efforts to reduce dependency on Russian fossil fuels. Canada can and should be the supplier of choice for decades to come.

Technological transformation is well underway in Canada’s oil and gas sector, largely thanks to industry initiatives that may be hampered by unrealistic emissions reduction goals. Canada is a global leader in carbon capture and storage, with the technology safely storing more than 44 million tonnes of CO2 since 2000. That’s the equivalent of taking over 9 million cars off the road. Meanwhile, the industry is also at the forefront of emissions-reducing alternative fuels such as hydrogen and small-scale nuclear.

As Canada considers sweeping emissions reductions, much of the world is moving in the opposite direction. As of January, some 189 coal plants were under construction globally in addition to 296 in the pre-construction phase, primarily in Asian countries. Natural gas is seen as a critical tool in lowering global emissions, and some forecasts suggest demand for liquefied natural gas (LNG) will outpace supply by the middle of this decade. That looming gap creates an opportunity for Canadian LNG to help lower global emissions while creating nearly 100,000 direct, indirect and induced jobs at home for decades to come.


Sincerely,