CAPP Releases Energy Platform for 2021 Federal Election

CALGARY, AB, Aug. 24, 2021 /CNW/ - The Canadian Association of Petroleum Producers (CAPP) has released its Energy Platform for Canada for the 2021 federal election.

The platform is a forward-looking, solutions-based document outlining the crucial role Canada's natural gas and oil industry plays in three vital areas:

Recovery - the energy industry is a primary engine in the country's economy and can help drive Canada's recovery by putting people back to work, creating investment, exports and economic growth, and generating government revenues through taxes and royalties. The benefits of a strong natural gas and oil industry are nation-wide, through direct and indirect employment and a multi-billion-dollar supply chain.

Renewal - Canada's energy industry is part of the collective global challenge to reduce greenhouse gas emissions while meeting the demand for affordable, reliable energy. The industry is continually evolving and developing solutions that improve environmental performance.

Reconciliation - the natural gas and oil industry champions the importance of Indigenous reconciliation and considers natural resource development to be integral to the Canadian reconciliation process. Responsible resource development contributes to Indigenous self-determination by supporting the growth of sustainable and prosperous Indigenous communities.

The Federal Energy Platform also highlights recommended actions for federal leaders to support and enhance the industry, creating ongoing recovery, wealth and prosperity while addressing emissions.

Full text of the platform in both English and French is available here.

CAPP's Federal Energy Platform is to inform all Canadians of the concerns and vision of the natural gas and oil business in a manner that is non-partisan and is not advertising. The business of energy is the business of every Canadian regardless of their political persuasion. It applies to all of Canada on issues of national scope and importance. CAPP does not support or oppose any particular registered party or candidate.

CAPP quotes ? Tim McMillan, president and CEO

"As economies around the world recover, global demand for energy is expected to continue growing. At the same time, the focus on a sustainable future has never been greater."

"Canada's energy sector has made tremendous progress reducing greenhouse gas emissions, and that continues, through significant investment in advanced technologies and knowledge sharing across the industry. Canadian producers of natural gas and oil provide a stable energy supply and are committed to finding efficient and effective pathways to a lower-carbon future."

"CAPP and our members call upon Canadians and our leaders to seize the opportunity to unleash the economic and environmental power of Canada's natural gas and oil industry."

"To be resilient and sustainable, recovery will be a multi-year process based on robust economic activity. It is crucially important for the incoming federal government to make policy decisions that
position Canada for success in an ultra-competitive international investment market. Investment supports industry growth and is vital to developing and commercializing technologies that reduce emissions, water use, and more."

Supporting information

• Canada produces 4.5 million barrels of oil and 15.4 billion cubic feet of natural gas per day, the world's fifth-largest producer of both resources.
• The industry provides about 522,000 jobs for Canadians across the country, generates $10 billion annually in government revenues through taxes and royalties and $100 billion in GDP annually.
• Natural gas and oil are Canada's number one export commodity, accounting for 19% of the value of all Canadian exports ? outpacing agriculture, automobiles and manufacturing.
• From 2009 to 2018, the oil sands industry reduced greenhouse gas emissions intensity by 20%.
• In 2018, the oil sands industry spent $2.4 billion in procuring goods and services from 275 Indigenous-led companies. Indigenous workers make up 7.4% of the industry's workforce.
• According to the International Energy Agency (IEA) World Energy Outlook 2020, global demand for both natural gas and oil is set to reach record levels, and these sources of energy will be needed for decades to come. The IEA recognized Canada as a leader in climate action and also projected strong growth in Canadian natural gas and oil production to meet global energy security needs through 2040, an opportunity for Canada's resources to meet demand in global energy markets.

The Canadian Association of Petroleum Producers (CAPP) represents companies, large and small, that explore for, develop and produce natural gas and oil throughout Canada. CAPP's member companies produce about 80 per cent of Canada's natural gas and oil. CAPP's associate members provide a wide range of services that support the upstream oil and natural gas industry. Together CAPP's members and associate members are an important part of a national industry with revenues from oil and natural gas production of about $116 billion a year. CAPP's mission, on behalf of the Canadian upstream oil and natural gas industry, is to advocate for and enable economic competitiveness and safe, environmentally and socially responsible performance.

Authorized by the Canadian Association of Petroleum Producers for the 2021 Federal Election, www.capp.ca, 403-267-1100.

SOURCE Canadian Association of Petroleum Producers