The oil and gas sector has long suffered a negative reputation \u2014 traditional extraction and production methods have contributed heavily to Canada\u2019s carbon footprint through the emission of methane gas and other air pollutants \u2014 but exploration and production (E&P) companies and cleantech startups are working to fix this.<\/p>\n
E&P companies have been actively reducing their methane emissions with clean technology solutions. Canada\u2019s cleantech industry now ranks fourth-highest globally and first in the G20. In January, the Canadian government pledged to invest $700 million in cleantech over the next five years. Canadian cleantech businesses were already booming, accounting for 3.1 per cent, or $59.3 billion, of our GDP.<\/p>\n
Technological innovations will continue to enable the oil and gas industry to become greener in several ways, including:<\/p>\n
Decreasing freshwater usage<\/strong><\/p>\n Like all major energy production methods, oil extraction is made possible by water. In the oil and gas industry \u2014 which accounts for 10% of Alberta\u2019s yearly water allocation \u2014 water is used to separate crude oil from other elements in the oil sands. The industry has been recycling the majority of this water for decades (roughly 80 to 95 per cent each year) but in an effort to further improve, cleantech companies have begun to rethink the extraction process and its relationship with water altogether. Imaginea<\/a>, for example, uses its Clean Hydrocarbon Ecosystem to deliver energy produced with the use of zero freshwater and with no toxic emissions or air pollution.<\/p>\n Increasing transparency through data<\/strong> <\/strong><\/p>\n One of the results of a national focus on transforming the oil and gas industry is increased transparency. The oil and gas sector accounts for nearly eight per cent of our country\u2019s GDP. Working to improve such an important industry is difficult because we must simultaneously consider our environmental health and our wealth as a nation.<\/p>\n Technology has also furthered industry transparency. Montreal-based GHGSat<\/a>, for example, can track global greenhouse gas (GHG) emissions from any industrial site in the world using a high-resolution satellite. This technology, more accurate and affordable than its alternatives, enables E&P companies to better understand, control and reduce GHG emissions.<\/p>\n