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.
Activists use misleading information to pressure Canada’s Minister of Small Business, Export Promotion, and International Trade to halt arms-length organization’s support of oil and gas.
Here are some facts to dispel more activist talking points about government support to the oil and gas industry.
- Their argument is premised on $13.5 billion in export credit insurance and financing from Canada’s Export Development Corporation. Even though it is a crown corporation, it does not use government funds to support its operations and runs essentially like a private bank.
- Meanwhile, a policy brief from the International Institute for Sustainable Development notes that Canada announced almost $15 billion in financial support for “green” initiatives in 2020.
- The oil and gas industry also contributes a fair share its fair share in taxes. The gross revenue contribution to federal, provincial, and municipal governments exclusively from the oil and gas sector was $493.3 billion between 2000 and 2018, an average of $26 billion per year which has gone to important civil services like health care.
Statistics Canada (2020b). Table 10-10-0017-01: Canadian Government Finance Statistics for the Provincial and Territorial Governments
Statistics Canada (2020c). Table 33-10-0006-01: Financial and Taxation Statistics for Enterprises, by Industry Type Statistics Canada (2020d). Financial and Taxation Statistics for Enterprises, by Industry Type (x 1,000,000). Custom tabulation.
Statistics Canada (2020a). Table 10-10-0016-01: Canadian Government Finance Statistics for the Federal Government
- IEA’s own energy demand scenarios still show the significant role oil and natural gas will need to play out to 2040, with the oil supply required to reach over 100 million barrels per day in order to meet the world’s growing energy demand. Even if the roadmap is followed, there will still be demand for oil and gas.
- Canada is the fourth-largest producer of energy in the world, and we do it more environmentally responsibly, more socially conscious, and more transparently than the rest.
- The best thing Canada can do to reduce emissions is export more best in the world oil and gas to places who still use coal, dung and wood for energy. If anti-oil and gas campaigners cared more about the environment than their ideological bend against hydrocarbons, they should recognize the global benefits of the oil and gas industry investing and spending in cleantech and new skills to produce energy with fewer emissions.
Here is a story that gets it right.
In this new analysis from Goehring & Rozencwajg, they’ve found that EVs probably won’t be the net-zero moonshot their proponents describe them to be. Relying on previously done work from Jefferies, they concluded that EVs will reach carbon-emission parity with an internal combustion vehicle just as its battery requires replacement.