Canadian Energy at Pivotal Moment
Canadian Energy at Pivotal Moment
Head, Energy
Brad Wells is the Head of Energy at BMO Capital Markets. Brad is responsible for overseeing and managing our coverage efforts in the energy sector. Prior to his cur…
Brad Wells is the Head of Energy at BMO Capital Markets. Brad is responsible for overseeing and managing our coverage efforts in the energy sector. Prior to his cur…
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“The energy transition cannot be a binary one that seeks to split existing and new sources of energy,” Brad Wells, Head of Energy at BMO Capital Markets, told an audience of the oil and natural gas industry during his opening remarks for the BMO Capital Markets CAPP Energy Symposium. “We have to be focused on meeting the energy and economic needs of today and doing what it takes to create a low-carbon economy now and into the future.”
The conference, which featured investors and energy sector leaders, took place on April 4 and 5 in Toronto and focused on how the Canadian energy industry can support global energy security and fight climate change while growing the economy and generating significant value for governments, shareholders, and all Canadians.
“Energy is a sector that we have long partnered with, served and remain committed to today,” said Wells, describing the industry as a key part of the country’s past, present, and future, representing nearly 10 percent of Canada’s GDP and employing hundreds of thousands of people, making it a backbone of the Canadian economy.
“Today, we’re at a pivotal moment,” Wells explained, noting the industry’s tremendous opportunity to drive change, both in Canada and globally, and to play a constructive role in decarbonizing the economy.
“Collectively, we have the opportunity to position Canada as a global leader in secure, affordable and responsibly-produced energy,” Wells said. “This ambition will require investment, innovation and collaboration, which is exactly what we’ve convened to talk about at this conference.”
Lisa Baiton, President and CEO of the Canadian Association of Petroleum Producers (CAPP), also noted the industry’s role in addressing the inherently intertwined challenges of climate change, energy security and economic prosperity.
“We at CAPP were excited to find a partner who understands the great value Canada’s oil and natural gas industry brings to people across this country,” she said in an opening address to the conference in Toronto. “We can, and must, work towards solving all three.”
