ACTIVIST CLAIM: Far left National Observer advocates for emissions cap claiming oil and gas isn’t reducing emissions on its own.
THE FACTS: The oil and gas industry is committed to further reducing emissions and most companies have set aggressive reduction targets – and carbon tech will be a critical tool to accomplish their goals.
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Here are some facts to have a reasoned conversation about a potential emissions cap:
- Canada has a “comparative advantage in carbon” in many industries and can reduce global emissions by incentivizing exports of this advantage, not penalizing it. We need to ensure that any new regulations ensure this.
- Regulations should allow for industry compliance and emissions reduction through innovation and private market solutions. It should enable the investment and incentives needed to ensure compliance and the continued growth and transformation of the industry.
- Indigenous peoples need to be respectfully consulted and engaged on the impacts of an emissions cap. According to PetroLMI, 13,900 self-identified Indigenous Peoples were directly employed in the oil and gas industry and these high-paying jobs help bring economic benefits back to their communities.
- Canada is a world leader in carbon tech, investing heavily to reduce impacts of oil and gas production and maintain valuable benefits. According to the U.N.’s International Panel on Climate Change, carbon tech solutions will capture almost as many emissions as renewables will reduce by the end of the century.
- Through technological advances in extraction and processing the per barrel emissions from the oil sands has decreased 32% since 1990.
Stories that get it right:
Central African countries signed a deal on Thursday to create a regional oil and gas pipeline network and hub infrastructures which backers say will strengthen energy supply and reduce dependence on imports of refined products.