Economic Recovery Pathways for Canada's Energy Industry: Part 1 - COVID-19 Impacts
Published On: September 03, 2020
The Canadian energy sector, among other economic sectors, continues to feel the impact of the COVID-19 pandemic on energy demand, investment, and employment. In response to the challenges that the novel coronavirus has introduced to the economy (global and local), governments around the world have presented various relief programs to minimize the impacts of the pandemic.
In Part 1 of a four-part series on the Economic Recovery Pathways for Canada’s Energy Industry, the Canadian Energy Research Institute (CERI) discusses the ongoing adverse impacts of the COVID-19 pandemic on the Canadian energy industry, including crude oil, natural gas, electricity and renewable energy sectors. Part 1 also highlights various stimulus packages available and explains CERI's methodology for modelling the economic impacts of these relief measures on the energy industry.
This four-part project is designed to provide decision-makers with economic impact information in these four sectors to better target how recovery options can address the broad economic contraction resulting from the COVID-19 pandemic. This report is part 1 of 4 in a series of analyses of recovery pathways. In Part 2, CERI will present the economic impacts for recovery of the Canadian oil and gas sector; Part 3 will present the economic impacts for recovery of the renewable energy sector, and in Part 4 – economic impacts for recovery of the electricity sector.