Canada’s energy industry is poised to join the rest of the world in weaning itself off fossil fuels, according to new federal analysis. Policy Horizons Canada, a federal think tank, reported that the country’s fossil fuel industry is in swift decline as a result of a global accelerated energy transition. Based on a rising demand for renewables, especially among a rising middle class in developing countries, these findings show that any long-term investment in oil and gas infrastructure will lose value. With provinces like Alberta and Ontario teaming up to accelerate renewable growth, the next step will be for the federal government to follow advice from their own researchers and implement policies that move the country’s assets away from fossil fuels for good.
— Margaret E. Atwood (@MargaretAtwood) May 31, 2016
- Not only is this progress, it’s also common sense. As “highly scalable and distributable” energy sources like wind and solar become more available, renewables are an increasingly appealing energy choice for communities of all sizes. With the fossil fuel industry scaling down rapidly in the coming years, moving away from dirty energy and towards renewables is a prudent financial choice that will also keep people healthier and safer.
- It doesn’t make sense for Canadians to invest in a stranded asset. The report cautions that investments in oil and gas infrastructure, like pipelines, “could be at high risk of becoming economically unviable as prices in renewable electricity further decline.” If the government goes through with these projects, taxpayers will be the ones stuck paying a hefty price for the inevitable.
- Canada can only fulfill its climate commitments if it is ready to let go of its pipeline dreams. Canada’s greenhouse gas emissions from tar sands are rising faster than the country’s ability to curb them. If federal leaders are committed to fulfilling the climate pledges made during the campaign period, and in Paris, now is a critical moment to put their own recommendations into policy and accelerate the just transition towards a renewable-only future.
- Canada’s energy superpower status threatened as world shifts off fossil fuel, federal think-tank warns (CBC)
- The Drilldown: Canada’s energy dominance under threat, say analysts (iPolitics)
- Alberta and Ontario premiers agree to collaborate on energy and climate change efforts (CTV)
Tools & Resources
- Report: Canada in a Changing Global Landscape – DRAFT (Policy Horizons Canada)
- Report: NEW: While fossils crashed in 2015, clean energy soared (Clean Energy Canada)
- Report: Renewable Energy and Jobs – Annual Review 2016 (IRENA)
- Data maps: Energy, emissions and more by country (Carbon Brief)
- PR: Renewable Energy Employs 8.1 Million People Worldwide (IRENA)
- Website: Climate Test
- Blog: Worldwide Jobs in Renewable Energy Surge to 8.1 Million. Where Does Canada Fit in? (DeSmog)
Related Tree Alerts
- G7 host Japan goes rogue on coal as renewable jobs buck global trend
- Fossil fuels put on notice as Break Free rolls into North America
- Energy East ‘threatens’ drinking water for millions of Canadians
- Praises sung for Canada in Davos while people await climate action at home
- Canada’s new PM gets ‘Climate Welcome’ as citizens set out hopes for real change
- RT @collinrees Canada’s federal think tank warns renewables are on the rise & new pipelines are a BAD idea. http://bit.ly/1sZsi0E
- MT @cleanenergycan Alberta has engineering capacity & potential to capitalize on #renewableenergy trends http://bit.ly/1UeeCEB #abpoli