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Oil & Gas Technical Compendium

IEA believes Canada’s status as an oil power threatened by net-zero goals

Canada will face challenges in retaining its status as a global oil and gas power in a world transitioning toward net zero carbon emissions by mid-century, the International Energy Agency said.The country seeks to remain “a major global oil and gas supplier” beyond 2050 even as countries, including Canada itself, push toward emission cuts, the agency said in its Canada 2022 Energy Policy Review Thursday.Holder of the world’s third-largest oil reserves, Canada’s largest oil producers pledged to zero out carbon emissions from their operations by the middle of the century, primarily through the use of carbon capture and storage, in a bid to preserve the sector. But those targets don’t include anything about the much larger volumes of emissions.....

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