Cutting oil sands emissions by 40 per cent will cost billions, RBC report finds

Cutting emissions from Canada’s oil sands by 40 per cent will cost between $45-billion and $65-billion from 2024 through 2030, according to a new analysis.found that Canada’s oil and gas sector can indeed balance near-term energy security with advancing climate action, the sector will need regulatory certainty and support at all levels of government to do so.from the fall which found that achieving net zero in the next three decades could cost up to $2-trillion.

The oil and gas sector is well-versed in making long-term, complicated and capital-intensive investments – particularly in the oil sands – but it’s also undergoing a fundamental economic shift as the world transitions toward different forms of energy. “We need to be thinking about the ordering of effort by the public sector, by the private sector, by financial institutions, by regulators and utilities in that process and making sure everyone is around the same table.”

Those discussions need to happen soon, Mr. Guldimann said, to hasten decisions about how the oil sector will actually decarbonize – likely through a combination of large-scale deployment of carbon capture, utilization and storage, methane-emission reductions, intensive electrification efforts and technologies that haven’t yet been developed.

If the Western world can ensure that all future oil demand is being met by countries that are aligned with net-zero, environmental and social goals, he said, “then perhaps we’re better off.”

And the billionaires should be covering the costs as Their businesses grow in this regard.

Meanwhile it will cost billions to keep the big banks CEO's paid...

This is bullshit modeling by RBC. Lazy analysis. We ran the numbers at AER 800 million over 5 years to reduce emissions by 45% 2 billion gets you much more stringent regulations with much more certainty Not 10 billion, not 20 billion, and 100% not 40 B cdnpoli ableg

Any reporting on RBC's claims about emissions or climate that does not disclose their status as one of the world's WORST funders of climate devastation is a failed act of journalism. I respect EmmaLGraney & I'd like an explanation. yyc cdnpoli

why not just stop ?

Climate change will cost trillions

I bet someone is long on oil emissions ..

Oil sands should never have existed. Oil is above x$ = it is okay to strip mine the earth for profit = toxic capitalism.

RBC who is invested in said oil sands 👍

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