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.
News Headline:
Jason Kenney and Big Oil are counting on the world failing to avert climate disaster
The author of this article believes the oil and gas industry wants to halt climate action, but the evidence shows otherwise.
The Facts:
If the Canadian oil and gas industry wanted to halt climate action, then why would they contribute so much to the environment?
- The latest available numbers show that in 2016, the Canadian oil and gas industry spent $3.7 billion for environmental protection, or 44% of total spending.
https://www150.statcan.gc.ca/n1/daily-quotidien/181214/dq181214d-eng.htm - The Canadian oil and gas industry also spent $1.45 billion on emissions reduction technology.
https://cleanresourceinnovation.com/preview-pdf/resource/CRIN%20Oil%20and%20Gas%20Innovation%20Ecosystem%20Presentation%202017.pdf - The Canadian oil and gas industry has been ranked #1 of the major oil and gas producers in environmental, social, and governance rankings by a recent Bank of Montreal report.
https://energynow.ca/2020/06/new-investment-report-counters-misconceptions-about-the-oil-sands-cec/ - The clean up of abandoned wells is now regulated and is being funded to support jobs and the environment.
https://boereport.com/2020/08/12/xi-technologies-alberta-reinforces-its-commitment-to-asset-retirement-obligations-with-the-new-liability-management-framework/ - The Canadian oil and gas industry is the largest employer of Indigenous workers comprising 11,900 or 6% of the workforce.
https://www.capp.ca/wp-content/uploads/2019/11/2018_Economic_Report_Series_Toward_a_Shared_Future_Canada_s_Indigenous_Peoples_and_the_Oil_and_Natural_Gas_Industry-328050.pdf
Here are some stories that get it right, or mostly right.
Varcoe: ‘There’s just no access to capital,’ Painted Pony CEO says as company accepts takeover bid.
Natural gas player Painted Pony Energy has accepted a takeover bid from Canadian Natural Resources Limited due to a lack of access to capital, says CEO Patrick Ward. Painted Pony tried to access assistance this year from Export Development Canada, but the help never arrived. This is particularly concerning as other small to mid-sized companies who applied, also haven’t seen support. Unless companies start seeing this access to liquidity, more producers could be at risk.
