Throughout the 20th/21st centuries, oil and natural gas so far are primary fuel sources. Despite that, governments around the world have pledged to reach net-zero CO2 emissions by 2050. For Alberta, having an Oil and Gas economy, this looks different.
Here are some key statistics:
Worldwide, Canada ranks 3rd on Oil Reserves and 4th on Oil Production (Source: Statista)
Canada Oil & Gas: 7.5% of GDP (total: $1.9T) and 7 times of average in employment per GDP (Source: StatCan)
Alberta oil production: 74% of Canada, with 31.0% of total GDP
GHG emissions by Oil & Gas: 26.4%
Canada, which is ranked eighth overall and sixth on national preparedness, faces challenges to its decarbonization credibility as a major exporter of oil that is also developing a liquid natural gas export facility. But there is a political will to change. (Source: KPMG 2021)
The transition to a cleaner, more successful economy must be a top priority now, as well as a long-term effort in the years and decades ahead. To achieve this long-term aim, Canada must continue to innovate, strengthening and expanding on existing policies to combat climate change and restructure the economy. (Source: Government of Canada)
Our keynote speaker for the event, Alok Sahai, President and CEO of Mass Natural Resources Inc shared with us insights into the oil and gas industry in Alberta, as well as ways how clean energy can actually benefit our economy and develop further.