Canada’s oil and gas sector must lower its emissions to net zero by 2050 or risk losing the public’s support for its operations, according to Derek Evans, the chief executive of MEG Energy, one of the country’s largest oil sands producers.
“Until we get there and until we’ve developed that track record, I think it’s going to be hard to convince others that we should be exporting our products elsewhere.” That would mean a broad and frank discussion about how the transition to cleaner fuels will work in a practical sense, and about the unintended consequences of moving too fast. Those consequences would be most keenly felt in the developing world, he said.
Prime Minister Justin Trudeau told reporters in Edmonton this week that the conflict in Ukraine has presented a short-term supply opportunity for oil and gas producers, including those in Canada. But, he said, the crisis is also a chance to “go even faster in reducing our emissions, in transforming our energy mix.“
CCUS is already at the heart of the Oil Sands Pathway to Net Zero initiative, an alliance between companies that covers 95 per cent of crude production in the oil sands. The group has pledged to reduce net emissions to zero by 2050.in the 2022 federal budget – which will cover half of the construction costs of most of the energy sector’s planned carbon-storage projects – will ease the sector’s path to that goal.
What we need is MASSIVE investment in electric rail and bus service plus accessible walking and cycling infrastructure so people aren’t forced to drive and buy expensive polluting oil products.
This is so far behind the curve -- we are so screwed if the oil and gas industry still exists in 2050.
Somebody needs to tell these idiots that we don’t have 28 years to get to net zero. Hell, we don’t have TEN years.
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