Oil worker advocacy group Iron & Earth estimates Canada will need around C$10 billion over 10 years to retrain fossil fuel workers, but is sceptical about government promises to help after past pledges failed to materialise.
As the clean energy economy takes off, it will generate some 640,000 jobs by 2030, a 50 per cent increase from 2021, with strong growth in Alberta, industry body Clean Energy Canada forecasts. The oil and gas industry is Canada's highest polluting sector, accounting for 26 per cent of all of carbon output. Yet Canada is the world's No 4 oil producer and some 450,000 jobs directly or indirectly linked to the industry are at risk over the next three decades as the country slashes climate-warming carbon emissions, TD Bank estimates.
"With the loss of any position in the oil and gas industry, the effect trickles down seven times due to the loss of economic spinoff effects," said Gerald Aalbers, mayor of Lloydminster, a city of 31,000 straddling the Alberta-Saskatchewan border where an estimated 15 per cent of jobs depend on the fossil fuel industry.'ONE-INDUSTRY CITY'
Still, downsizing of the industry seems inevitable if Canada is to meet its 2050 net zero goal, and an interim target of cutting emissions 40-45 per cent from 2005 levels by 2030.
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