The cancellation of the Petronas liquefied natural gas project in British Columbia isn’t great news for Canada, nor is it good news for emissions reductions either.
The United States has now become our competition. They’re now able to tap into their own shale resources.
They’re also still our only customer, since we don’t have any pipelines or projects up and running to ship our oil and gas to new clients.
The U.S. could become energy independent by 2026 according to a government report from the Energy Information Administration. That would mean the U.S. won’t need Canada to supply them with hydrocarbons for much longer.
And we’re actually helping them get to that point by providing cheap oil and natural gas supplies.
Meanwhile, environmentalists are celebrating the cancellation of the Petronas project which there’s no doubt the new anti-oil and gas government in BC had a hand in.
But do environmentalist realize that this also means China will continue to use more coal since less LNG is available?
This means they’ll be missing out on using a cleaner form of energy— the switch to natural gas can cut emissions up to 50 per cent.