Canada Oil Industry Needs $51 Billion To Decarbonize ...Middle East

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Canada Oil Industry Needs $51 Billion To Decarbonize
source : OILPRICE ( Middle East ) () 24
Canada’s oil sands producers would need investments amounting to some US$51 billion (C$65 billion) to be able to reduce its emissions footprint while increasing production in line with demand, RBC has calculated. In the report, RBC analysts said that Canada could boost its oil production by half a million barrels daily, but this would result in annual emissions of  9 million tons of carbon dioxide, which would cost more than $1 billion (C$1.5 billion) to offset, the Financial Post reported. To reduce the effect of their production growth…

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