Setting the Pace: The economic case for managing the decline of oil and gas production in Canada

The oil and gas sector's role as one of Canada's economic engines is already changing. This report analyzes successful energy transitions in other jurisdictions. It finds that by enacting policies, the government can prepare for the phase-down of oil and gas production, protect Canadian workers and communities, and seize new economic opportunities.The world is emerging from a far-reaching energy crisis. As the pandemic hit in 2020, demand plummeted suddenly. In the years that followed, COVID-19 continued to impact energy supply and demand, as well as the broader economy. Instability turned into crisis when Russia’s illegal invasion of Ukraine further tightened energy markets.