Three-quarters of the Canadians employed in oil and gas could lose their jobs as the country pursues aggressive climate targets, according to a new report that warns governments must develop worker transition plans now to prevent disastrous consequences.
If they don’t, workers could face displacement similar to that of the U.S. and Canadian manufacturing sectors in the 1990s and early 2000s, when automation and technological changes led to a decline in manual jobs across the economy.
The report by TD Economics for release on Tuesday estimates that by 2050, up to 450,000 of Canada’s current 600,000 direct and indirect oil and gas jobs could become casualties of falling demand for fossil fuel as more countries and companies commit to net-zero greenhouse gas emissions.
