Have some oil sands businesses made sizeable progress on lessening carbon emissions, as Alberta’s government has mentioned?
It relies upon how you define ‘significant.’ Joule Bergerson, a professor in the chemical and petroleum engineering office at the College of Calgary, advised me that she’s seen reductions in carbon depth — the amount of greenhouse gas emitted per device of electricity extracted — in the array of 15 percent to 20 per cent.
The companies them selves report obtaining manufactured major reductions. Cenovus informed me in a assertion that its greenhouse gas intensity experienced fallen 30 percent in 15 several years. Suncor claimed in a assertion that emissions depth at its oil sands foundation plant was down far more than 60 p.c because 1990.
But Dr. Bergerson included that reductions on the scale we have seen so much aren’t necessarily heading to alter investors’ minds about quitting the oil sands simply because they however depart most of individuals initiatives nicely earlier mentioned the international ordinary for carbon depth. As she place it, these businesses “are seriously trying, and putting their money exactly where their mouth is in phrases of establishing new systems.” Nonetheless, she claimed, it continues to be unclear irrespective of whether they’ll be able to reduce emissions ample to persuade other buyers not to leave.
How keen were being folks in the field and the Canadian fiscal group to communicate with you?
I was stunned by how complicated it was to get Canadian investors and oil sands providers to communicate to me. Aside from the Caisse de dépôt et placement du Québec, none of the large pension resources agreed to my requests for interviews. The biggest oil sands providers furthermore declined my requests for interviews, even though some agreed to react to published concerns.
When I stated that to the folks I spoke with, lots of of whom asked not to be identified, the explanation was that no person wishes to be the up coming 1 to get specific by the premier’s workplace. I would have asked Mr. Kenney about that, but his business office declined my request for an interview.