Established by Natural Resources Minister Jim Carr in October 2017, the Council was tasked with engaging Canadians and providing advice to inform the Government of Canada as it develops an energy policy to shape Canada’s low-carbon energy future. Among its recommendations, the Council encouraged Minister Carr to focus on diversifying the product mix produced by Canada’s oil and gas sector, with a particular emphasis on uses with lower life-cycle greenhouse gas emissions, such as chemistry manufacturing. The Council also acknowledged the important role chemistry plays by producing the products that enable emission reductions and energy efficiency in other sectors, such as transportation and buildings.
“With the publication of this report, we look forward to working with Minister Carr and Natural Resources Canada to measurably diversify and grow the value-added product slate of Canada’s oil and gas energy sector as recommended by the Council,” said Bob Masterson, President and CEO of CIAC.
In 2017, the Canadian chemistry sector – notably CIAC members NOVA Chemicals and Inter Pipeline –announced $6 billion of new investments, predicated on Canada’s low carbon energy feedstocks. Those investments are creating thousands of new, highly skilled and well-paying jobs and will make substantial contributions to local, provincial and national economies.
“With the launch of additional energy diversification programs in Alberta and with the engagement of the Government of Canada, there is an opportunity to realize additional chemistry sector investments of $15-20 billion in the coming months and to ensure global demand is met through lower carbon Canadian chemistry,” Mr. Masterson said.