Canada is the solution for a reliable, affordable and environmentally friendly energy supply
THUNDER BAY, ONTARIO ~~~~~~ June 26, 2022 (LSNews) Anti-oil and gas activists want the world to believe that the continued use of natural resources like gas and oil is an imminent threat to human society as serious as the atomic bomb. They are wrong.
Modern life depends on oil and gas for transportation, home heating/cooling, food supply, and everyday products like your cell phone, computer, and clothes. And everything from healthcare items like heart valves and anesthetics to critical infrastructure like buildings, roads and bridges.
Reducing oil and gas emissions is essential, and Canadian industry is a world leader in these efforts.
Today, oil and gas provide around 53% of the world’s energy needs, according to the International Energy Agency (IEA). In 2050, despite the rise of renewable and alternative sources, the IEA expects that oil and gas will still supply around 50% of the world’s energy.
Calling for a total halt to oil and gas development around the world would only harm humanity, especially the world’s most vulnerable populations.
Here’s why the Fossil Fuel Non-Proliferation Treaty is the wrong way to go.
Access to energy is essential to well-being
According to the European Commission, “adequate heat, cooling, lighting and energy to power appliances are essential services that underpin a decent standard of living and health. Access to energy services is essential for social inclusion.
Canada and its G7 partners have called on members of the Organization of the Petroleum Exporting Countries (OPEC) like Saudi Arabia to increase supplies of oil and gas as soaring prices raise ‘serious concerns’ for households in the G7 and beyond. Bank of America has warned that further cuts in available oil could trigger a global recession.
The growing world population requires more energy, not less
According to the IEA, more than 730 million people in the world still do not have access to electricity. Efforts to improve global energy access have stalled due to the COVID pandemic, and soaring energy prices due to Russia’s invasion of Ukraine could worsen the situation.
“The impact of the pandemic on household incomes has made basic energy services unaffordable for around 90 million people in Asia and Africa who previously had access to them,” according to the IEA’s latest joint report, the International Renewable Energy Agency, United Nations Statistics Division, World Bank. and World Health Organization.
“As if the economic devastation of the pandemic were not enough, we are also facing increasing pressure to reduce our fossil fuel production and switch to renewable energy,” said NJ Ayuk, Executive Chairman of the African Energy Chamber. , in November 2021. .
“But oil and gas remain critically important to meeting Africa’s economic and energy needs, and that need is greater than ever.”
According to United Nations projections, the world’s population is expected to increase by around two billion by 2050, to reach 9.7 billion, driven mainly by growth in India. These communities need access to abundant, affordable and reliable energy – and much of it will come from oil and gas.
Renewable and alternative energies are not widely available to reduce oil and gas
Even before Russia invaded Ukraine, Europe faced an energy crisis, in part due to an overreliance on wind power when the wind was not blowing.
Countries including Germany are now planning to restart mothballed coal-fired power plants to save natural gas supplies for storage, to be used during the winter months as fallout from the invasion in global energy markets continue.
Alternative and renewable energies are increasingly important, but the reality is that these technologies are not yet capable of providing the energy the world needs.
In January, the European Commission published a draft amendment to its “taxonomy”, or guidelines for sustainable investors, adding natural gas and nuclear energy because of their proven potential to reduce emissions while providing a supply stable energy.
Renewable energy sources “are not yet commercially available on a sufficient scale” at an appropriate threshold, the commission said.
Canada is a responsible and reliable oil and gas supplier
Canada should be the answer as the world seeks reliable energy suppliers while maintaining greenhouse gas emission reduction targets.
According to IEA Executive Director Fatih Birol, oil and gas will be needed for a long time. He would prefer the supply to come from “good partners” like Canada.
Canada ranks first among the world’s largest oil reserve holders for environmental, social and governance (ESG) performance, according to rankings drawn from Yale University’s Environmental Performance Index, the Imperative Social Progress Index and World Bank Global Governance Indicators.
The ESG measures a variety of metrics, including greenhouse gas emissions, water use, Indigenous engagement, worker safety, diversity and inclusion, lack of violence/terrorism and regulatory processes.
Canada’s natural gas can help the world get rid of coal
Using natural gas instead of coal to fuel power plants reduces emissions by around 50% on average, according to the IEA.
According to a 2020 study published in the Journal for Cleaner Production, liquefied natural gas (LNG) transported by tanker from Canada can lead to an even greater reduction, reducing emissions by up to 62%.
Driven by emerging economies striving to phase out coal, global LNG demand is expected to nearly double to 700 million tonnes in 2040 from 360 million tonnes in 2020, according to Shell’s latest report.
The growing world population needs abundant, reliable and affordable energy to thrive. Canada is the answer to providing the energy the world needs.
Deborah Jaremko is Director of Content for the Canadian Energy Centre, an Alberta government corporation funded in part by industry-paid carbon emissions taxes.
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The opinions expressed in this opinion piece are solely those of their author and are not necessarily shared or endorsed by Lake Superior News/Lake Superior Media.
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