Moratorium or not, experts and government officials agree the chances of another Western Arctic Oil boom are effectively zero.

On Jan. 12, Inuvaluit Regional Corporation President Duane Ningaqsiq Smith issued a condemnation of CanadaSA国际影视传媒檚 extension of the moratorium on drilling for oil and natural gas in the Western Arctic Ocean. In the statement he said the federal government decision had undermined Inuvialuit SA国际影视传媒渆fforts to enhance sovereignty and security in our region.SA国际影视传媒�

SA国际影视传媒淥n behalf of the Inuvialuit, we are discouraged by the federal governmentSA国际影视传媒檚 arbitrary decision to extend the moratorium on oil and gas development in CanadaSA国际影视传媒檚 Arctic waters, without meaningful consultation,SA国际影视传媒� he stated. SA国际影视传媒淭his is a setback to the Inuvialuit Settlement Region, who are in need of new economic opportunities. Our livelihoods are impacted, and it is unacceptable this decision has been made without exploring alternative ways to bring jobs, growth and energy security to CanadaSA国际影视传媒檚 North. This decision undermines ongoing efforts to enhance sovereignty and security in our region and will have a lasting impact on the strides Inuvialuit have made in these key areas.

SA国际影视传媒淔or thousands of years the Inuvialuit have been conscientious and sustainable stewards of our land and water. If the federal government truly respects Indigenous sovereignty and self-determination, they would explore opportunities along with us that are mutually beneficial.SA国际影视传媒�

The Inuvik Drum sent a number of questions to Smith and the IRC to clarify their position but did not receive a response.

Last drilling rig already built?

Energy analyst Doug Matthews described the likelihood of the price of oil staying high enough for a long enough period of time to justify the high costs of offshore drilling in the Arctic as slim to none.

SA国际影视传媒淭he issue isnSA国际影视传媒檛 just the price of oil but how long it will stay at the hoped-for price,SA国际影视传媒� he said. SA国际影视传媒淥ffshore exploration projects can take more than 15 years to reach production so the important number is the best estimate of oil prices in 15 years, not today.

SA国际影视传媒淒epending on your source, oil demand is expected to decline from todaySA国际影视传媒檚 average of 100 million barrels per day to half that by 2035 (International Energy Agency) or 2050 (Saudi Aramco). The date may change but the direction appears set to lower demand.SA国际影视传媒�

A spokesperson with the Canadian Energy Regulator echoed MatthewsSA国际影视传媒� data, saying out of the numerous scenarios the government has on hand, the most likely projection SA国际影视传媒� called the Evolving Policies scenario SA国际影视传媒� has Canadian oil demand peaking by 2032 and tapering off from there.

SA国际影视传媒淭he vast majority of oil sands production in 2050 is from oil sands facilities already producing,SA国际影视传媒� said communications officer Karen Ryhorchuk, who noted the federal governmentSA国际影视传媒檚 projections may in fact be too optimistic for oil futures. SA国际影视传媒淩ecent global net-zero scenarios, such as the IEASA国际影视传媒檚 SA国际影视传媒淣et Zero by 2050SA国际影视传媒� report, show rapidly declining global oil demand, which could lead to significantly lower Canadian production levels compared to our Evolving Policies Scenario. Future global climate policy and its effect on global crude oil demand and prices will have direct impacts on Canadian oil production.SA国际影视传媒�

Matthews noted with the global marketplace rapidly shifting away from fossil fuels in an effort to stave off runaway climate change, high-risk projects will have an extremely difficult time generating interest among oil producers going forward. Even if the federal government made a dramatic shift back to fossil fuel development, the chances of that development actually happening is nil.

SA国际影视传媒淕overnment may change policy and support offshore drilling, such as the National Energy Program of the late 1970s-80s, but governments donSA国际影视传媒檛 drill SA国际影视传媒� companies do. And if there is no commercial interest there will be no drilling,SA国际影视传媒� he said. SA国际影视传媒淎s we transit from fossil fuels to renewables, the most distant from market, most costly, most environmentally challenging projects will be the first to fall off the table. The Arctic offshore would be one of the first to go, while oil sands can continue to chug along for many years.SA国际影视传媒�

Moratorium based on IRCSA国际影视传媒檚 data, say feds

A spokesperson for Crown-Indigenous Relations and Northern Affairs (CIRNAC) said the decision to continue the moratorium was based on both findings of a recent review of the Eastern Arctic in conjunction with the Nunavut government and Nunavut Tunngavik Inc., as well as the Arctic Review Final Reports, which were co-developed by CIRNAC, the GNWT and Yukon governments and the IRC.

SA国际影视传媒淥il and gas activities in the offshore do not meet minimum safety and environmental standards, nor contribute to CanadaSA国际影视传媒檚 climate goals at this time,SA国际影视传媒� said Vincent Gauthier. SA国际影视传媒淭he government continues to collaborate closely with the Inuvialuit Regional Corporation, and other northern partners at the Western Arctic Review Committee, co-developing the Western Arctic Review and completing the Final Report. The findings in the Final Report are key to informing the governmentSA国际影视传媒檚 decision to maintain the indefinite moratorium.SA国际影视传媒�

He said the IRC and federal government collaborate closely on a number of Arctic Ocean related issues, including developing five-year Arctic Reviews. He noted the federal government had committed to preserving the unique ecosystem of Arctic Oceans and the lifestyles that depend on them.

In addition, Gauthier said the federal government has committed $2.5 million to support the IRC in participating in the implementation of the Western Arctic SA国际影视传媒� Tariuq (Offshore) Accord.

A spokesperson for Natural Resources Canada said legislation to support retraining efforts for a low-carbon economy was in the works.

SA国际影视传媒淕overnment of Canada plans to bring forward proposed legislation on sustainable jobs this year, which will lay the foundation for effective federal action to ensure all Canadians can benefit from the unprecedented opportunities of a low-carbon future,SA国际影视传媒� said media relations officer Anthony Ertl. SA国际影视传媒淧utting people and communities at the centre of our actions and investments is key to CanadaSA国际影视传媒檚 approach to an inclusive clean energy transition and sustainable economic growth. To do so, the legislation will create a governance, accountability and engagement framework.SA国际影视传媒�