They contend the sector can play a role in helping the country achieve its climate goals. In Canada, many in the oilpatch also see opportunity in using technology to drive down greenhouse gas emissions. Oil and gas prices are at multi-year highs - though that's leading to calls for companies to earmark those funds to speed up their efforts to reduce emissions.Īt the same time, the world is experiencing a shortage of fossil fuels as economies emerge from the pandemic - a situation that's supporting the industry's argument that oil and natural gas, in particular, remain critical for everyday life.
The rapid wind-down of fossil fuels is needed, Environmental Defence's Julia Levin warned last week, "in order to limit catastrophic levels of warming, save millions of lives and end harm to front-line communities."īut after several years of low commodity prices, many energy companies are enjoying a return to hefty profits.
There are calls for countries around the world to wind down their oil and gas production as a critical step needed to slash emissions and address climate change. On the eve of the COP26 United Nations climate conference, a level of unease across the Canadian oilpatch might be expected.
This story is part of a CBC News initiative entitled " Our Changing Planet" to show and explain the effects of climate change and what is being done about it.
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