Liquefied Natural Gas is NOT a Good Investment. Renewables are Best for Jobs & the Economy.

72% of Albertans wish to maintain or increase climate action and action to transition the country to clean energy (June 2025). Global demand for oil and gas is set to peak this decade and then decline, and there are enough projects already underway to meet that demand. As a result global oil and gas corporate exploration budgets are already shrinking and oil and gas investment is shifting to short term gains. LNG investment now relies heavily on maintaining the FALSE appearance that there will be continued oil and gas expansion when there won’t be expansion.

Demand for LNG in emerging markets is contingent on price, and LNG is expensive to produce in Canada. LNG is a risky bet as renewables are rapidly becoming the default for energy development especially across the ‘Global South.’ Low-cost renewable energy is soaring in China and Vietnam: Vietnam’s wind and solar generation exceeds gas-fired power generation. Demand is estimated to have already peaked in Europe and South Korea. China has already surpassed its 2030 renewable energy ambitions, by building out a record in renewables last year, and Canada actually risks losing out on the renewable future of energy.

The International Energy Agency (IEA), an authoritative voice on energy, says in its World Energy Outlook for 2024 anticipates a surplus of LNG supply in the coming years, and that “we estimate that the sponsors of around 70% of LNG export projects currently under construction would struggle to recover their invested capital.”

67% of Canadians now prefer renewables and clean energy generally to oil and gas development (it’s 77% in BC).

Exporting LNG will likely raise the cost of gas in Canada and BC households are going to experience much higher gas bills when BC starts exporting LNG this summer because they’ll be paying global gas prices. This despite the fact that 77% of British Columbians favour renewable and clean-energy projects instead of LNG. In Australia, wholesale gas prices tripled, and U.S. households were paying 50 per cent more for their gas as LNG exports began. 

By contrast 81% of renewables offer cheaper energy than fossil fuels. Renewables also create far more jobs than oil and gas projects, it’s easier to localize renewable jobs in communities in places like Alberta and NL, and renewables are more reliable than oil and gas.

LNG is unlikely to replace coal overseas; analysts confirm that renewable energy – not LNG – is the biggest competitor to coal in both China and India. You can also find out more about health and climate impacts here.

We already have renewable solutions for when the sun does not shine or the wind does not blow like interconnected grids, energy efficiency, and energy storage, but LNG prices are inherently volatile due to international factors beyond our control.