People have lots of questions about what our energy future will look like. There is no question that it is evolving – energy demand around the world is increasing, innovation is enabling lower emission oil and gas production and at the same time technology is increasing the availability of renewable energy.
We are happy to see that conversations about energy have become so commonplace among Canadians. Discussing the opportunities brought on by renewables, the significant role the energy industry plays in Canada, and how Canada can contribute to reducing emissions globally – these are important conversations.
The more that we can talk about Canada’s energy industry and our energy future, the more likely we are to find common ground.
As you approach conversations with your friends and family, consider these 12 points about Canada’s energy industry. These points are also illustrated below in a useful graphic for sharing.
If you have questions about pipelines and our energy future let us know and we’ll do our best to answer – aboutpipelines.com/your-questions.
1. The energy sector contributed 230 billion dollars to the nominal gross domestic product in 2018, or 11.1% of total nominal gross domestic product
2. Between direct and indirect jobs, Canada’s energy industry enabled over 800,000 jobs across Canada in 2018 – down from over 900,000 in 2017. Pipelines alone provide over 15,000 direct jobs in Canada
3. Since 2005, oil and natural gas has contributed almost $1 trillion to Canada’ GDP
4. Between 2013-2017 energy industry share of taxes paid by all industries was 7.7% and brought in nearly 11% of all operating revenues earned by governments in Canada.
5. Since 2008, oil and natural gas has contributed over $200 billion to fund government programs like health care and education
6. In 2018, the oil and gas industry made up a significant share of government revenues – $16.8 billion
7. A 2018 study found that global emissions from oil production could be cut by almost 25% if oil-producing countries limited the amount of gas flared or vented into the air in line with Canada’s regulations
8. Canada’s energy industry is technologically advanced and is innovating to reduce emissions. Between 2009-2017, the GHG intensity of mined oil sands fell by more than 25% and will decrease even more before 2030
9. Energy demands is growing, especially in Asia and India. Increase in energy demand in these countries is being met by high-emission fuel sources. Canada can play a role in significantly reducing global GHG emissions by suppling cleaner-burning natural gas to replace high-emission fuel sources
10. Canada’s energy industry requires a lot of capital to build and operate projects. This investment capital is leaving Canada for countries with lower taxes and fewer environmental and safety requirements
11. Trade uncertainty is assumed to reduce the level of business investment by about 2.5% by the end of 2021
12. Regulatory competitiveness of Canada’s pipeline industry is decreasing. To remain competitive, Canada requires a regulatory system that is stable and predictable