Setting the record straight on the day’s top anti-oil and gas media stories
ACTIVIST CLAIM: eMERGE Guelph Sustainability claims Guelph Community Foundation’s divestment from Canadian oil and gas will help fight climate change.
THE FACTS: Investing in Canadian oil and gas means investing in a cleantech industry that deploys technology to fight climate change every day.
Here are some talking points and sources to have a reasonable conversation about Canadian oil and gas fighting climate change.
- Innovation and perseverance will help solve climate change, not moratoriums or divestment. The oil and gas industry invests the most of any other industry in the expansion of clean technology to produce reliable energy while lowering environmental impacts. Investing in Canadian oil and gas means investing in responsible energy.
- Emerging circular economy technologies hold the promise of true sustainability for oil and gas. Real zero production and consumption technologies are already beginning to take shape. Whitecap Resources currently captures and sequesters more emissions than it produces.
- By divesting, the Community Foundation does not recognize the economic, social, and environmental benefits of oil and gas products for which there are currently no better substitutes. These products have saved millions of lives during the pandemic.
- Investing in Canadian oil and gas projects ensures that the global energy supply will not shift to countries that are more polluting, less transparent, less sensitive to societal pressures, and less committed to emissions reductions. Divesting from best in the world Canadian oil and gas is bad for the planet.
- The Guelph Community Foundation wants to invest more into things like renewables because they believe it is ethical and moral. However the International Energy Agency found that a global energy transition plan would result in demand for minerals such as lithium, graphite, nickel, and rare-earth metals would rise dramatically which will cause massive environmental and social impacts.
Stories that get it right
According to B.C.’s Oil and Gas Commission, well reclamation is going gangbusters. The number of wells being reclaimed right now is exceeding those that are being drilled. This is helping fuel the economy while the oil and gas industry also restores the environment!