Start Date: 2024-11-23
End Date: 2024-11-29

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Senate Committee Explores Oil and Gas Role in Economy and Emissions

The Standing Senate Committee on Energy, the Environment and Natural Resources examined the oil and gas sector's economic contribution and its environmental impact. Jennifer Withington from Statistics Canada noted the industry's 7.7% GDP contribution for 2023 and its employment of 446,000 individuals. Natural Resources Canada's Erin O'Brien discussed the framework for identifying inefficient fossil fuel subsidies, revealing $5.3 billion in federal subsidies for 2023. The committee also reviewed carbon capture progress, with officials urging more industrial investment. Regulatory efforts to reduce methane emissions were also discussed, highlighting the challenge of balancing emissions reduction with economic objectives.

Sources: ['Transcripts: senparlvu.parl.gc.ca']