In advance of the federal election to be held in October 2019, the Canadian Association of Petroleum Producers (CAPP) has released its federal energy platform document, Putting Canada on the World Stage – An Energy Platform for Canada.
The document outlines opportunities in the areas of market access, regulatory policy, Indigenous prosperity, climate and innovation, and fiscal and tax policy. The document also highlights various barriers and challenges facing the oil and natural gas sector in each of these areas, and offers specific recommendations to the federal government for addressing challenges.
As outlined in the platform, CAPP believes Canada must define a strategic, long-term vision for oil and natural gas growth. Within that framework, Canada can make key decisions to:
- Meet domestic and international demand for oil and natural gas with responsibly produced Canadian resources.
- Obtain full value for Canada’s resources.
- Expand domestic economic benefits.
- Increase opportunities for Indigenous prosperity.
- Drive environmental performance through investment in innovation and technology.
- Contribute to reducing net global carbon emissions.
“It’s the duty of the federal government to ensure national prosperity by creating the conditions necessary for success. CAPP’s federal energy platform outlines what that looks like,” says Tim McMillan, CAPP’s president and CEO.
“Bringing investment back to Canada, and building a growing oil and natural gas industry, could yield significant socio-economic benefits across the country. This includes sustainable and inclusive economic growth and self-determination for Indigenous communities, a goal aligned with the Government of Canada’s reconciliation objectives.”
An opportunity to reduce net global emissions
Canada also has the potential to help meet global energy needs while reducing net global greenhouse gas emissions by displacing less efficient fuels like coal in international markets such as China and India.
Canada can seize an opportunity that exists beyond our borders. By 2040, emerging markets in China, India and Southeast Asia are expected to drive a 27 per cent increase in energy demand. Canada has enormous natural resources, and the innovation, high standards for safety and environmental performance, and technological expertise to be the world’s energy supplier of choice. Using responsibly produced Canadian natural gas, shipped to international markets as liquefied natural gas (LNG), instead of coal to generate electricity has the potential to substantially reduce net global greenhouse gas (GHG) emissions.
Over the next federal mandate period, if the Government of Canada acts to facilitate meeting global opportunities, there will be significant socio-economic benefits across the country. In particular, Canada would see incremental investment (potentially averaging $20 billion annually), which would support approximately 120,000 direct and indirect jobs a year through 2030, with an extra $45.4 billion in economic activity in 2030.
However, If Canada does not act to support and grow oil and natural gas production and exports, other suppliers – with lesser environmental standards – will fill the increasing global demand for energy.
Energy information for all Canadians
CAPP’s federal energy platform is meant to inform all Canadians of the concerns and opportunities facing the oil and natural gas sector, in a manner that is non-partisan and is not advertising. The business of energy is the business of every government regardless of its political persuasion. CAPP does not support or oppose any particular registered party or candidate, provincially or federally.
McMillan adds, “Canadians need to know how important the oil and natural gas industry is to Canada, right across the country. Our values are shared values – environmental performance, sustainable communities, and Indigenous partnerships. We can achieve these things while at the same time promoting Canada-wide prosperity.”