INNOVATION CANNOT HAPPEN WITHOUT GLOBAL INVESTMENT

With some work, Canada can lead the pack on clean energy, writes

This weekend, people the world over will be turning off lights in homes and businesses during Earth Hour, as a means to raise awareness around emissions.

Earth Hour is a chance to shine a light on environmental action, and Canada’s oil and natural gas industry is part of that action.

We are doing our part for the earth — and we believe innovation and technology hold the key to positive action.

Canadian oil and natural gas producers are keenly aware of the need to reduce emissions. Canadian producers are stepping up, not only to operate safely, more efficiently, and meet (or do better than) emissions targets, but also to develop and implement innovative technologies that improve environmental performance.

We live in a growing, urbanizing world that is demanding more energy in every form. Respected, credible organizations such as the International Energy Agency indicate that energy will come from all sources, including renewables, oil and natural gas, hydro and nuclear. Even as renewables expand their share of global energy supply, oil and natural gas remain the only source for such applications as aviation and shipping fuel, industrial processes such as steel manufacturing, petrochemical feedstocks, as well as reliable solutions for everything from transportation to home heating.

So we need to find ways to produce more energy with less impact on the planet.

Canada is showing the world how this can be done. Our oil and natural gas industry is focused on delivering the energy the world wants, while reducing the impact of our operations on land, air and water.

We produce our abundant oil and natural gas resources in a manner that’s socially and environmentally responsible — and through innovation and technological advances, we’re getting better, every day.

Innovation is already making its mark. Some of industry’s most noteworthy innovations include water resource hubs in northeastern British Columbia’s Montney formation that reduce the need for fresh water. Carbon capture and storage in Central Alberta is safely storing two million tonnes of carbon dioxide underground. In the oilsands, a unique partnership of companies called Canada’s Oil Sands Innovation Alliance (COSIA) has invested more than $1.4 billion to develop 981 distinct technologies to reduce the impacts on air, land and water.

We are constantly evolving the way we produce, move and use Canadian energy to provide the most sustainable barrel at the lowest cost for the long term. That is our global leadership opportunity.

A strong energy sector ensures our nation’s prosperity, now and for the future.

But a strong energy sector must attract capital to innovate and compete in the world.

However, today Canada is falling behind in the fierce global competition for energy investment — the very investment that spurs the crucial innovation our growing world needs to produce more energy with less impact.

Energy-producing competitors such as the United States and others — countries with lower environmental standards than Canada — are attracting more energy investment, while in Canada capital investment for energy is in decline. This means energy is being produced under less robust environmental standards, which ultimately causes more global emissions. It doesn’t make sense, environmentally or economically.

But it doesn’t have to be this way. Governments in Canada could help industry to accelerate investment in clean technology. Our industry wants to continue innovating to make Canadian oil and natural gas the world’s energy for tomorrow.

It is imperative for governments to work with industry to encourage and stimulate growth in innovation and technology.

With accelerated investment, our natural resources can be used for generations to come, at home and around the world, and remain a major contributor to creating prosperity and jobs for Canadians.

As we symbolically connect with people around the world during Earth Hour, we must bear in mind that Canada has a strong climate leadership story. Our energy sector is developing and using leading-edge technology that will change the energy future for generations to come.

Next Earth Hour, Canada should be leading the world in clean energy investments, not lagging behind.