Minister of Environment and Climate Change Steven Guilbeault says the future of big oil and gas companies, such as New Brunswick's Irving Oil, is in alternative energy. Speaking at a press conference this week, Guilbeault responded to a reporter’s question about comments recently made by New Brunswick Premier Blaine Higgs that due to Guilbeault’s climate policies, the province’s biggest oil company Irving Oil might be forced to sell. Before stating he can’t comment on the matter, Guilbeault said the “world is moving to decarbonization” and pushed the Trudeau Liberals’ agenda of decarbonization and pushing oil and gas companies to move to renewable energy. “I can’t really comment, I’m not an expert on oil markets,” said Guilbeault. “There was a report that said in order to ensure the future of the refinery it needs to invest in decarbonization.”“Which is what our government is doing, to help industries in different sectors, including the oil and gas sector, invest in decarbonization,” said Guilbeault. “We know the word is moving towards decarbonization.”“In the transportation sector, we are consuming about 40 million barrels of oil a day. That will go down to two million barrels of oil in 2050 because people are moving toward electrification of their transportation all around the world,” he claimed. “Five years ago, one in 20 vehicles sold in the world were electric vehicles. Today it’s one in five.” “On average in Canada now, it’s about 10%. Canadians are embracing electrical vehicles which will drive down demand for oil-refined products in Canada, but also around the world,” continued Guilbeault. “Clearly for these companies the future is in alternatives, which is why we’re helping them invest in biomass, alternative fuels, hydrogen, because that’s where the world is heading.”
