Great that means even more abandoned wells for the taxpayers to be on the hook for once the money is sucked out of the ground.
Man what the fuck happened to the Canada we used to be proud of.
One of our major political parties - coincidentally the one that loves dinosaur juice - is out to HARVEST the country instead of maintain or grow it. Always has been.
slips
This implies we all had a grip on it in the first place. The people drilling more for oil never held on; and are drilling less with an “aw shucks, guess we’ll need more” thinking and more a “lol, the RoC can suffer and we’ll be on our yacht” mentality straight out of Dallas.
I wish we would stop selling oil and gas in Canada completely though I realize we need to replace those industries ( revenue / jobs ) with something else to make that happen. It is a huge issue.
An even bigger issue is dishonest or misleading debate. I think that the tenancy to argue from emotion over logic or facts is central to many of our biggest problems, including the climate, and prevents us from implementing effective solutions.
In the interest of not coming up with the equivalent of a plastic straw ban for the oil industry, what are the facts here?
Are pumping more or less oil and gas than before? What percentage of our energy mix does that represent? What does the 5, 10, and 15 year outlook look like?
Are the number of wells drilled the right metric? How many drilled wells become productive? How long are they productive for? I imagine both those metrics are declining. It is possible that 8% more wells started results in less oil extracted than before.
This is the best summary I could come up with:
Oil and gas producers say they will drill 8% more wells in Canada next year as they look to take advantage of new shipping options, including a controversial government-owned pipeline.
Amid forecasts that Canada is not on target to reach its emissions reductions goals, on Friday the Canadian Association of Energy Contractors (CAOEC) predicted nearly 500 more wells next year, to 6,229 projects.
The environment minister, Steven Guilbeault, has said his government hopes to draft a proposal before the Cop28 climate conference, which begins in Dubai next week.
“Canada is the only G7 country that has not achieved any emissions reductions since 1990,” Jerry DeMarco, commissioner of the environment and sustainable development, told reporters earlier this month.
The federal government bought the embattled TransMountain project from Kinder Morgan in 2018 for C$4.5bn (US$3.3bn), with the prime minister arguing Canada needed to alleviate a crude-oil transportation bottleneck that costs Canadian oil producers billions annually in forgone export revenue.
“We know there is zero room to expand oil and gas extraction and meet climate targets,” said Conor Curtis of the Sierra Club Canada Foundation.
The original article contains 403 words, the summary contains 182 words. Saved 55%. I’m a bot and I’m open source!
