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The Canadian Association of Petroleum Producers has a different view than Prime Minister Justin Trudeau when it comes to the future of emissions from oil and gas companies.
During the COP26 Summit in Scotland, Trudeau said a hard cap on emissions would come into play in Canada, with the intention to inspire other resource-rich countries to do the same with their own emissions.
Tim McMillan, the president and CEO of CAPP, said other nations are taking a completely different approach to solving the situation.
“Today, countries around the world are struggling to provide their industries, businesses and citizens with affordable and reliable energy because they lack access to natural gas and oil,” McMillan said in a statement.
“With this, we have seen a surge in coal use from both developing and developed nations along with increasing costs on food, electricity, travel and home heating.”
According to a study, the oil and gas sector accounted for 26 per cent of Canada’s emissions. This is the highest-ranked sector emission in the country.
“Natural gas and oil are Canada’s largest export products and a foundational pillar of Canada’s economy and innovation capacity supporting approximately 500,000 jobs and representing about $30 billion in annual economic investment,” McMillan confirmed.
Although the federal government and the oil and gas industry see the matter differently, McMillan stressed it’s significant that both parties work together as one.
“It will be incredibly important for the federal government and the natural gas and oil industry to work collaboratively to ensure we meet our environmental and social outcomes,” he said.
Canada will still be relied on to supply its resources to other countries but will have to do some adjusting in order to do so at a high level.
“To achieve the ambitions of the Paris Agreement the world will need increased access to lower emission natural gas and oil,” McMillan wrote. “Canada, under the right policy environment, can position ourselves as a preferred global supplier, creating jobs and prosperity for Canadians and helping to lower global greenhouse gas emissions.”
