Connect with us

Economy

5 Reasons Why Canada Should Be a Global Oil Supplier of Choice

Published

5 minute read

Post Submitted by Canada Action

#1 – Unprecedented Net-Zero Commitment

Canada’s largest oil sands producers just announced an unprecedented commitment to reaching net-zero emissions by 2050!

The net-zero term – used to describe the process of removing all greenhouse gas (GHG) emissions by reduction methods – has become an increasingly important mandate for companies looking to continue attracting investment while participating in the transition to a lower-carbon future.

Accounting for about 90 per cent of oil sands production, the new five-member alliance is just one of many examples of why Canadian producers should be go-to oil suppliers of choice for buyers worldwide.

#2 – Continual GHG Emission Reductions

The emissions intensities of oil sands operations dropped by 36 per cent between 2000 and 2018due to fewer gas venting emissions, technological and efficiency improvements and reductions in the percentage of bitumen upgraded at national refineries says Natural Resources Canada.

Oil sands emissions intensities per barrel are also forecast by IHS Markit to drop another 16 to 23 per cent by 2030 due to continued innovation and technological advancement in the Canadian oil and gas sector.

This matters in an increasingly carbon-constrained world where going “green” has been put at the forefront of investors’ minds around the globe. According to these standards, investment cash should be flowing into Canada in droves for its dedication to the sustainable production of its natural resources such as oil, natural gas and minerals to name a few.

#3 – Leader in Social Progress

Social Progress Imperative lists Canada as seventh out of 163 countries on its Social Progress Index 2020, outranking all other major global oil jurisdictions except Norway. The annual index examines a total of 50 social and environmental indicators across 12 major subcategories, including:

Nutrition & Basic Medical Care
Water & Sanitation
Shelter
Personal Safety
Access to Basic Knowledge
Access to Information & Communications
Health & Wellness
Environmental Quality
Personal Rights
Personal Freedom & Choice
Inclusiveness
Access to Advanced Education

If you value social progress, the choice is clear. Canada ranks number one out of all the world’s top oil producers, exporters and reserve holders except for Norway and should be a global supplier of choice.

#4 – Carbon Pricing in a Carbon-Constrained World

Home to roughly 80 per cent of Canada’s total oil production, Alberta is one of the few global oil jurisdictions with mandatory disclosures, regulated emissions protocols and carbon taxes on excess GHGs.

In 2007, the province also became the first jurisdiction in North America and one of the first in the world just behind the European Union to take climate action with mandatory GHG emission reduction targets for large industrial emitters across all industries.

To add, only 10.5 per cent of global crude oil production is subject to carbon pricing, of which about 40 per cent is accounted for by Canada (with ~4.2 per cent of global output).

Carbon pricing and mandatory GHG emissions protocols matter huge in a carbon-constrained world. Therefore, Canada’s current policies indicate that it should be a choice supplier of oil and gas for decades to come.

#5 – A World-Class Regulatory Environment

Canada’s oil and gas producers are subject to some of the most stringent regulations and governance standards for energy projects anywhere on the planet. It only makes sense that future oil and gas supply comes from highly transparent producers like Canada that practice environmentally conscious extraction and production techniques.

Shutting down Canadian pipelines carrying Canadian oil has not kept one barrel of oil in the ground. What this has accomplished, however, is the displacement of global market share to less environmentally conscious producers who, in many instances, have abysmal records on social progress indicators such as freedom of expression and other basic human rights.

More Oil & Gas in Canada

Canada Should Be a Supplier of Choice

Canada’s proven track record on Environmental, Social and Governance metrics means that we should be a global supplier of choice for oil, gas, minerals, metals, agricultural products, forestry products and everything in between.

Support Canadian resource families and learn more about our world-class natural resource sectors by joining us on Twitter, Instagram and Facebook today. Hope to see you there!

 

 

 

More from this author

Economy

In a “Staggering Precedent” Trudeau government dodging parliament with massive “inflation tax” on Canadians

Published on

Federal Conservative Pierre Poilievre has released video from a recent Question of Privilege in the House of Commons where he explains how the Federal Liberal government has been dodging parliament to significantly raise taxes.

Instead of going further into debt or raising taxes to pay for a massive increase in government spending, the Trudeau government worked out a deal with the Central Bank.  Every week the Central Bank prints billions of dollars that go directly to government coffers.  Without a single vote and without consulting Parliament, the federal government is effectively raking in the largest tax increase in Canadian history.

By printing money at this unprecedented rate, the federal government is responsible for driving up Canada’s inflation rate resulting in price hikes for virtually all goods and services.  Poilievre calls it an “inflation tax”.

In this short video, Poilievre describes how the inflation tax hurts low and middle income Canadians, while increasing the value of assets owned by the richest Canadians.

Continue Reading

Alberta

New opinion surveys reveal overwhelming majority of Canadians support our Oil and Gas industry

Published on

News Release from Canada Action

We are very excited to share some recent and encouraging polling results today. According to a July 2021 public opinion survey conducted by Research Co, new data shows that Canada’s public perception of our responsible energy industry is very positive.

Here are some of the key findings:

  • Almost three in four (73 percent) Canadians polled agree Canada should be a preferred global supplier of energy because of its climate and environmental record.
  • Nearly seven in ten (69 percent) say they have personally benefited from the oil and gas sector.
  • 70 percent agree that resource development could help alleviate systemic poverty within Indigenous communities.
  • Two thirds of Canadians (66 percent) support Canada’s role as a global oil and gas supplier.
  • Almost three in four Canadians (73 percent) acknowledge Canada’s prosperity is supported by the oil and gas sector and that Canadian oil and gas production helps fund important social programs like health care and education.

Referring to the fact 73 percent of Canadians polled also agreed it’s essential First Nations be included in project development to establish long-term revenue sources for their communities, JP Gladu, acting Executive Director of Indigenous Resource Network, noted the following:

Taken collectively, this is all exceptional news for all of Canada’s natural resource industries. Your support for our positive, fact based message about why the world needs more Canadian energy and resources is helping make a difference.

A Majority of Canadians ‘Agree’ that Canada Should be a Preferred Global Supplier of Energy: POLL

two thirds of canadians support canada's role as a global oil and gas supplier

A new public opinion survey conducted by Research Co. on behalf of Canada Action has found that a majority of Canadians across the country support the vital oil and gas sector! The poll, released on July 14th, showed that 68% of participants ‘agree’ that Canada should be the choice supplier to meet future oil and gas demand, while two-thirds (66%) support Canada’s role as a global oil and gas supplier versus just 19% who were opposed.

Additionally, almost three in four Canadians (73%) acknowledged Canada’s prosperity is supported by the oil and gas sector and that the industry helps fund important social programs such as healthcare and education.

“It’s a strong and very welcome result, and one that shows most Canadians feel proud of the work their energy sector is doing to enhance its record on ESG criteria. The results also show most Canadians believe the world needs more Canadian energy and are aware of the importance of the sector to the prosperity of families and communities right across the country,” said Cody Battershill, Canada Action founder.

Canada Oil and Gas Sector Generated 493 Billion Government Revenues 2000-2018-02

Between 2000 and 2018, approximately $493 billion in government revenues were generated by Canada’s oil and gas industry, capital which has been used pay for schools, hospitals, roads and the workers that make these projects possible/operational. Every Canadian has benefitted from oil and gas in some way, shape, or form; nearly seven-in-ten Canadians (69%) of participants also acknowledged that Canada’s oil and gas sector has benefitted them personally.

Nearly three-in-four Canadians (73%) also agreed that global markets should prioritize jurisdictions like Canada that are leaders in climate action and environmental protection. This is a logical choice as Canada’s oil and gas industry ranks number one for Environmental, Social, and Governance (ESG) practices among nations with the largest oil reserves, and of the world’s top 20 producers, 2nd for governance and social progress and 4th on the environment.

“Given the world requires $525 billion of new oil and gas investment per year just to meet current demand, we think we ought to push for Canada to receive a sizeable share of this investment,” Battershill added.

68% of canadians agree that Canada should be the choice supplier to meet future oil and gas demand

Canada’s world-class ESG performance shows that our nation is home to one of the most environmentally conscious and sustainable oil and gas industries in the world. With future supply gaps on the horizon, it only makes sense that ESG-focussed investors look to Canada as a choice supplier for as long as the world needs oil – and it will for many decades to come.

73% of participants also agreed that it’s essential First Nations be included in project development to establish long-term revenue sources for their communities.

“These are heartening results. Indigenous nations and businesses want to be partners in resource development. This poll shows there’s widespread support to work together for the benefit of all,” said JP Gladu, acting Executive Director of the Indigenous Resource Network.

Below is a summary of all poll results collected by Research Co.

Poll Results:

73% of canadians agree that Canada's oil and gas sector helps fund social programs like healthcare and education

Two-thirds of Canadians (66%) support Canada’s role as a global oil and gas supplier, while one-in-five (19%) are opposed

– Almost seven-in-ten Canadians (69%) say the oil and gas industry has benefitted them personally

– Almost three-in-four Canadians (73%) agree that global markets should prioritize jurisdictions like Canada that are leaders in climate action and environmental protection

– Almost three-in-four Canadians (73%) agree that Canadian oil and gas products help fund important social programs like healthcare and education for Canadians

– More than seven-in-ten Canadians (72%) agree that sustainability measures are better served when energy is sourced from Canada compared to less environmentally friendly jurisdictions

three quarters of Canada believe that global markets should favour sustainable oil producers in Canada

Seven-in-ten Canadians (70%) agree that Canada should be the choice recipient of investments due to its climate leadership and environmental policies

– More than two-thirds of Canadians (68%) agree that Canada should be the choice supplier to meet future oil and gas demand

– Over three-in-five Canadians (64%) agree that investing in Canada’s oil and gas sector makes sense if you value climate leadership, social progress and transparency

Fewer than half of Canadians (45%) were aware that Canada is a leader for environmental, social and governance (ESG) practices among countries with the largest oil and gas reserves

– More than two-in-five Canadians (43%) were aware that Canadian energy companies are global leaders in carbon capture, utilization and storage

70% of Canadians believe Canada should be a choice recipient for investments due to ESG leadership

– Just over two-in-five Canadians (41%) were aware that Canadian natural gas exported to Asia can reduce global emissions by displacing coal power usage

– Almost three-in-four Canadians (73%) agree that global markets should prioritize jurisdictions like Canada that are leaders in climate leadership and environmental protection

– Almost three-in-four Canadians (73%) agree that Canada should be a destination of choice for energy investment due to its climate leadership, worker safety and environmental policies

– More than two-thirds of Canadians (68%) agree that Canada should be the choice supplier to meet future oil and gas demand

– Almost three-in-four Canadians (74%) think Canada should act in a similar fashion to Norway when it comes to energy practices, as the nation has said they will continue to maximize the value created from their oil and gas reserves

Canada ESG Record vs. Top Global Oil Exporters

– Almost three-in-four Canadians (73%) agree that Canada’s prosperity is supported by the oil and gas sector practices

– Almost three-in-four Canadians (73%) agree that it is essential that First Nations be included in project development to establish long-term revenue sources for their communities

Seven-in-ten Canadians (70%) agree that Systemic poverty within Indigenous communities could be alleviated with resource development

– Almost seven-in-ten Canadians (69%) agree that Indigenous and non-Indigenous communities in Canada should play a role in supplying our energy to meet domestic and global demands

More than half of Canadians (56%) agree with the decision related to the TMX expansion, while one-in-five (21%) disagree, and a similar proportion (22%) are undecided. Support for the decision is highest in Alberta and Atlantic Canada (each at 63%), followed by Ontario (57%), Saskatchewan and Manitoba (56%), British Columbia (55%) and Quebec (52%)

– Over three-in-five Canadians (62%) think the Indigenous communities support the Trans Mountain Pipeline (TMX) project

– More than three-in-ten Canadians (31%) are more likely to support the Trans Mountain expansion upon learning of the views of Indigenous communities, while 7% are less likely to support. More than two-in-five (47%) say their position has not changed as a result of this fact

Results were based on an online study among 1,000 adults in Canada, conducted July 7 to 9, 2021 and weighted for age, gender and region. The margin of error—which measures sample variability—is +/- 3.1 percentage points, nineteen times out of twenty.

Join Us Today!

Canada Action Banner

Learn more about Canada’s sustainable energy industry by joining us on FacebookTwitter, and Instagram today – hope to see you there!

Back to Energy – Canada Action

 

 

Continue Reading

july, 2021

thu15jul(jul 15)6:30 pmthu19aug(aug 19)6:30 pmPop-up Spray Parks6:30 pm - (august 19) 6:30 pm

Trending

X