Priorities for Action
- Dramatically reduce production emissions of oil and gas operations (by controlling fugitive methane emissions, improved energy efficiency, and other technological innovations)
- Develop R&D and infrastructure for production of zero emission fuels (hydrogen or electricity), geothermal energy, and material uses of bitumen
- Scale back sector investments not geared to an ultra-low-emission future
- Implement economic diversification strategies in fossil extraction dependent regions
Oil & Gas
In its current form, Canada’s oil and gas industry is incompatible with a net-zero future and represents the single biggest emissions challenge for policymakers. In addition to accelerating climate change, oil and gas extraction is responsible for billions of dollars in environmental degradation.
Priorities for Action
- Dramatically reduce production emissions of oil and gas operations (by controlling fugitive methane emissions, improved energy efficiency, and other technological innovations)
- Develop R&D and infrastructure for production of zero emission fuels (hydrogen or electricity), geothermal energy, and material uses of bitumen
- Scale back sector investments not geared to an ultra-low-emission future
- Implement economic diversification strategies in fossil extraction dependent regions
The Opportunity
While a major driver of economic growth and Canada’s largest source of export earnings, the oil and gas industry makes up the largest share of Canada’s GHG emissions. Although Canada is increasingly determined to act to address climate change, some regions remain heavily dependent on fossil fuel extraction.
Three elements could help the sector move toward net zero: reducing production emissions to net zero while continuing to produce traditional fossil fuels; exploiting hydrocarbons in novel ways by developing net-zero emission energy products; and abandoning hydrocarbons for energy production and focusing on materials and/or alternative energy resources.
Today’s Challenges
Future Challenges
