The International Energy Agency (IEA) is urging the Canadian government to require “deep decarbonization” in the country’s oil and natural gas industry. 

canada energy graph

“Global markets will progressively demand cleaner fuels and will discriminate in favor of more carbon-competitive products,” said the global energy watchdog in a 261-page report issued on Thursday.

“Canada is the fourth largest producer of oil and natural gas and home to the world’s third-largest oil reserves,” IEA said. “But simply having those resources will not be enough to compete in rapidly transforming global energy markets.”

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Canada Prime Minister Justin Trudeau...