Critics say time running out to to plan, build and launch new technology to reduce emissions by the 2030 deadline
Industry groups and Alberta want Ottawa to move quickly to clarify and implement policies intended to get Canada on track to meet its 2030 climate goals if the oil and gas sector is to have any chance to deliver steep emissions cuts under tight timelines.
The Prime Minister and Environment Minister Steven Guilbeault told the House of Commons on Tuesday their emissions reduction plan is achievable. It pledges at least a 40-per-cent cut in emissions below 2005 levels by 2030. For the oil and gas sector, that translates to an 81-megatonne cut from the industry’s 2019 levels.
The Oil Sands Pathways to Net-Zero Alliance, a group of companies that operate about 95 per cent of oil sands production and plan to hit net-zero by 2050, is counting in part on a huge new pipeline to transport captured carbon to where it can be sequestered underground. Mr. Cameron said more certainty is also needed on the federal government’s investment tax credit and carbon credit pricing, and Alberta’s rules that will allow companies to deduct some of their investment costs from their royalties. In the meantime, the alliance plans to start an application process for its carbon sequestration hub.
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