CAPP Responds to Recent IEA Report on Energy and Climate Change
January 21, 2020 – Calgary, Alberta
Canada’s oil and natural gas industry is already at the forefront of developing and implementing the technology necessary for many of the recommendations included in the International Energy Agency’s most recent report on energy and climate change.
The Canadian industry is part of the solution and is a leader in carbon capture and storage, methane reductions, flaring reduction, integration of renewables into operations, and electrification of the upstream using low-carbon hydro power. As a result, industry has driven down per-barrel emissions in the oil sands by 32 per cent from 1990 levels, and has some of the lowest carbon intensive liquefied natural gas production on the planet.
CAPP members take climate action very seriously, including publicly-stated goals to achieve net-zero emissions from some of Canada’s largest oil sands producers. What the IEA report shows is that even under the Sustainable Development Scenario, oil and natural gas will need to be a large part of the global energy mix. To ensure it is developed in the most responsible way possible, that oil and natural gas should come from Canada.
– Terry Abel, Executive Vice President, CAPP