Without the clarity they need, Alberta’s oil sands producers are being set up to fail GlobeDebate
This translation has been automatically generated and has not been verified for accuracy.May was a bad month for Canada’s beleaguered oil producers. First, the Norges Bank, which manages Norway’s sovereign wealth fund, announced its divestment from four oil sands producers, citing their “unacceptable greenhouse gas emissions.” Then, presumptive Democrat nominee Joe Biden announced that, if elected U.S. president, he would cancel the permits for the Keystone XL pipeline.
The Norges Bank’s decision is predicated on a misrepresentation of carbon pricing in Canada. Mr. Biden’s announcement represents a diplomatic failure, and a potentially fatal setback for a vital project. But those two developments underscore the ways in which Canada has failed to provide a credible pathway for our petroleum producers to flourish in a future of peak oil demand and global decarbonization.
Today, companies face an unstable patchwork of provincial and federal policies around GHGs. The flashpoint around the since-scuttled Teck Frontier mine project – which promised to outperform other facilities on emission intensity – only highlighted the
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
In the ER, patients need my comfort but I am scared to give itBeing a physician in the time of coronavirus means struggling to comfort patients while not putting yourself at risk. It’s difficult beyond words, writes Sarah-Taïssir Bencharif
Read more »
Opinion: The RCMP is failing in NunavutThe territory faces a systematic problem of violence and unnecessary force
Read more »
Alberta couple’s costly fleet of seven vehicles leaves retirement plans in neutralThey can’t afford to spend $800 a month on two trucks, a truck camper, one all-terrain vehicle, two sports cars and a fishing boat
Read more »
Alberta reports 7 COVID-19 cases; lowest daily count since March 12
Read more »
Alberta eyes protections for businesses facing eviction due to COVID-19 lockdownKenney says province is examining measures announced by B.C. government last week
Read more »