According to Environment and Climate Change Canada, the oil and gas sector is a major contributor to Canada’s economy, employing 182,000 people and generating $209 billion in GDP during 2023, yet it is also the source of 31% of Canada’’s Greenhouse gas emissions.

 “Demand for oil and gas is not going to go to zero tomorrow.  It is a transition that takes decades  to undergo.  There will be a role for oil and gas as we move forward along that transition, but it is likely to be a  cleaner oil and gas sector as the rest of the world stops buying  the oil and gas products that Canada and other countries produce. Which, I think, really underlines the importance of investing in decarbonization now while we’re still using oil and gas  to 2050 and a little bit beyond  if we get on a net zero trajectory,” explained Janetta McKenzie  from the Pembina Institute, a Canadian think tank and non-profit focused on energy.