There has been lots of talk about Canada’s so-called “Just Transition,” but so far little comprehensive analysis of its impact on the national economy and workforce. One of the most controversial elements of the “Just Transition” are calls by some for a shutdown of Canada’s oil and gas industry to curb the country’s 1.6 percent contribution to global GHG emissions.
Canadian Energy Centre Executive Director of Operations Mike Simpson joined Business Insider host Mario Toneguzzi to discuss the contribution of the oil and gas sector to Canada’s economy.
British Columbia has been producing oil and natural gas since 1952. In fact, as of 2018, B.C. produced 32 percent of Canada’s natural gas and two percent of Canada’s conventional oil. British Columbia collects royalties from oil and gas development, supporting economic prosperity in the province.
The headline screamed: “The end of oil age” in the Economist in 2003. Fast forward 18 years and that still doesn’t make sense in many ways. The demand for oil is increasing across the globe. Even U.S. President Joe Biden is now asking OPEC to produce more oil.
Canadian Energy Centre Executive Director of Operations Mike Simpson joined Business Insider host Mario Toneguzzi to discuss the positive impact of the oil and gas sector on Canada’s four Atlantic provinces.
Next year will mark 30 years of offshore oil and natural gas production in Atlantic Canada. In that time, the region has been the primary source of human capital for the oil and gas industry in other parts of Canada, while also being a significant recipient of the benefits from oil and gas activity.