According to two researchers in Canadian industry, it will cost about 75 billion Canadian dollars (60 billion US dollars) to zero greenhouse gas emissions from oil sands operations by 2050, most of which will be borne by taxpayers, and many remain unresolved. The problem has not been resolved. Top CEO.

To achieve the goals announced last month, about half of emission Suncor Energy Inc. CEO Mark Little said in an interview that the cuts will need to be done by capturing carbon in oil sands and storing it deep underground, which may require up to two-thirds of government funding, as in Norway same. It is not clear how and when most projects will be implemented, or what agreements are needed, but it is clear that the industry does not want to do it alone.

Alexander Pourbaix, CEO of Cenovus Energy Inc. said: “We cannot find any jurisdiction in the world that implements carbon capture, and the national or state governments are not very important partners in this investment.” In the same interview “I don’t think any of us can do this work alone. This is a significant undertaking.”

The initiative came after increasing pressure from large, climate-conscious investors, many of whom have already abandoned their oil sands assets. Canadian industry, above the world’s third-largest crude oil reserves, uses carbon-intensive mining methods, making it a target of environmentalists. Employment opportunities and taxes from an industry that accounts for approximately 10% of the Canadian economy are also at risk.

“We have an Achilles’ heel: it is greenhouse gas emissions,” Little said. “We can bury our heads in the sand and become victims, or we can actually deal with it.”

The oil sands industry emits nearly 70 million tons of carbon dioxide each year, accounting for about 10% of Canada’s emissions, “so we must be a big emitter,” Little said.

Plans to reduce these emissions — also supported by Natural Resources Canada, ExxonMobil’s Imperial Oil Company, and MEG Energy — will include measures such as changing the fuel used in oil sands operations. Cenovus and other companies are also developing methods using solvents such as propane to help separate oil from sand more effectively and pump more crude oil with lower steam requirements. Pourbaix said the industry may later use small nuclear reactors to make steam.

One of the group’s first large-scale projects was the construction of a carbon dioxide trunk line along a corridor connecting the oil sands facilities in the Fort McMurray area and the Cold Lake area in northern Alberta with the nearby carbon storage center. The trunk line may cost C$1 Billion to C$2 Billion, and may be put into operation in the middle of the decade. But the biggest cost is related to capturing carbon dioxide, ranging from about 50 Canadian dollars per ton that emits high-concentration industries to “hundreds of dollars per ton” captured directly from the air, Little said.

The plan does not include so-called Scope 3 emissions, which are emissions from cars, airplanes, homes, and factories when end consumers burn fossil fuels produced in the oil sands.


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