Oil and Gas Industry Needed for Economic Recovery

The Canadian Association of Petroleum Producers

(CAPP) released ‘A Vision for Canada’s Recovery - Canada’s Natural Gas and Oil Industry: Driving Economic Recovery and Environmental Leadership’ report.

This document outlines the critical role of Canada’s natural gas and oil industry in driving a robust and sustainable economic recovery for the benefit of the entire country while continuing to drive down emissions. CAPP recommends a path forward guided by four key principles:

1. Create and retain good jobs in Canada;

2. Generate pan-canadian benefits, especially focused on prosperity for Indigenous communities;

3. Advance environmental leadership at home and abroad; and,

4. Build wealth and value while shrinking Canada’s debt.

The plan recommends short, medium and long-term actions that the Federal Government can take to achieve shared economic and environmental goals, focused on four priority areas: market access, regulatory policy, climate and innovation and fiscal and tax policy.

The upstream oil and natural gas sector helped drive the Canadian economy through past recoveries, notably after the 2008 worldwide economic downturn, and the industry is poised to do that again. Canada has the resources and expertise to enable a long-term recovery that is sustainable and resilient.