Bloc Québécois Leader Yves-François Blanchet said Alberta's "tar sands" are "condemned" and federal funds should be directed at supporting renewable energy sources rather than projects like the Trans Mountain pipeline expansion. "Oil is dead and for people in the sector, it's very important there be just transition funds." Trudeau has promised sector-specific support for the oil and gas industry beyond the $1.7 billion his government has allocated to clean up orphan well sites. The IEA said the virus has ravaged markets for fossil fuels — the collapse in energy demand is seven times greater than the slump caused by the global financial crisis. Renewable energy sources, meanwhile, have been comparatively resilient.

Source: CBC News May 06, 2020 16:11 UTC