Re-Energizing Canada

Oil and gas have shaped Canada’s past—but that doesn’t necessarily mean they will be its future.

As the world faces tough questions about energy security and affordability amid mounting pressure for climate action, Canada urgently needs to have a frank conversation about the future of its energy sector. Without concrete steps to reduce Canada’s dependence on oil and gas and invest in a prosperous future, damaging economic impacts will be felt across the country.

Emerging market forces in favour of ever-cheaper renewable energy, coupled with the global response to climate change, will decimate demand for oil and gas. At the same time, oil and gas prices are increasingly volatile. From a climate perspective, the science is clear that the world has no real choice but to end new oil and gas exploration now while rapidly addressing remaining production.

This research project will shine a light on practical strategies for Canada to mitigate the risk of stranded assets, maintain economic stability, and protect Canadian workers and communities while facilitating the transition to secure, affordable, and reliable clean energy.

Over the course of this multi-year project and publications series, IISD will aim to answer the following questions:

• What is the outlook for oil and gas in Canada?
• What does a fair, feasible, and prosperous energy future look like in Canada?
• Which policy pathways will get Canada there?

By facing these challenges head-on, Canada can build a more competitive and resilient economy for all while simultaneously increasing its climate ambition.