Coronavirus outbreak: "Oil is dead" in the wake of COVID-19 pandemic, Elizabeth May says
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Speaking to reporters in Ottawa on Wednesday, Green Party MP and former party leader Elizabeth May said the economic shock from the COVID-19 pandemic on both the global economy and on Canada, specifically on the energy sector, proves that "oil is dead" as a backstop economic commodity, and that smart nations will use the opportunity to pursue greater investment in green energy.
Already the federal government has invested $1.7 billion in funding for B.C., Alberta and Saskatchewan natural resource firms to hire energy workers to restore and reclaim well sites.
It comes on the heels of years of devastation in the Alberta oil and gas sector caused by low crude prices and difficulty getting resources to market, combined more recently with the economic shutdown of the coronavirus pandemic and a global price war between Russia and Saudi Arabia.
Alberta Premier Jason Kenney has warned one in four Albertans could end up out of work as the pandemic crisis continues and offered similar remarks last month urging the federal government to do more.
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