Canada is facing economic challenges.
Layers of new regulations and policies, including carbon pricing, have made it difficult for Canada’s energy sector to compete and provide good jobs here at home.
The fact is, total capital spending by the oil and natural gas industry in the Canadian economy was $45 billion in 2017 – a 44-per-cent decline compared to $81 billion in 2014, and a 19-per-cent drop from 2016. Meanwhile, capital spending in the United States increased by about 38 per cent to $120 billion thanks to a more streamlined regulatory system.
This kind of loss in investment curbs industry development of innovation and technology that is key to breaking the link between energy growth and emissions growth over time. But currently, climate policies in Canada come at a high cost to the country’s economy with minimal effect on global emissions as natural gas and oil production migrates to regions with fewer, if any, regulations.
We need to do more to spur growth in our energy sector and protect jobs in Canada instead of letting that money go to our competitors.
Canada has a proud story to share. We are among the most innovative and responsible producers in the world. If given the chance, citizens would prefer to buy oil and natural gas from Canada more than from any other country in the world. According to Ipsos’ first-ever Global Energy Pulse, Canada ranked No. 1 among 11 producing nations as the global energy supplier of choice.
Help us tell our story and do more to support energy sector jobs here in Canada.
As Canada’s Energy Citizens we want to see Canadian energy lead the world.
We are asking all level of governments to support policies that:
- Protect the competitiveness of our trade exposed industries like oil and natural gas;
- End unnecessary delays to the review, construction and approval of new pipelines;
- Develop a policy framework where industry can spur economic growth, create jobs, and generate broad-based prosperity.
Let’s work together to create a global vision for Canadian oil and natural gas that all Canadians can be proud of.