To be clear: There is no such thing as “decarbonized oil”. Carbon capture technologies may partially reduce some emissions generated during the extraction, upgrading, or refining process, but they do not change the fundamental nature of the product itself. Once oil is burned, whether it originates in Canada, Saudi Arabia, or anywhere else in the world, it releases carbon dioxide and combustion emissions in essentially the same way. Carbon capture, even if effective at the industrial level, addresses only part of the production chain; it does not eliminate the carbon released when the fuel is ultimately consumed. Canada is now committing billions of dollars toward carbon capture initiatives despite ongoing uncertainty surrounding their long-term economic and environmental effectiveness, while increasingly complex regulatory frameworks continue to discourage foreign investment in the nation’s broader energy sector.
• Carbon Capture → capital-intensive emissions-compliance infrastructure with questionable net-energy efficiency, uncertain economic scalability, and substantial taxpayer exposure reaching into the tens of billions ($20.0 - 30.0B) of dollars
Ha … $90.0B? That’s the sales pitch price.
Let’s not forget the Trudeau / Carney government purchase of the Trans Mountain pipeline and expansion project from Kinder Morgan in 2018 for $4.5 billion after the private company threatened to abandon it. Originally estimated to cost about $7.4 billion to expand, the project’s final cost rose to roughly $34 billion before entering service in 2024. @MarkJCarney
To be clear: There is no such thing as “decarbonized oil”. Carbon capture technologies may partially reduce some emissions generated during the extraction, upgrading, or refining process, but they do not change the fundamental nature of the product itself. Once oil is burned, whether it originates in Canada, Saudi Arabia, or anywhere else in the world, it releases carbon dioxide and combustion emissions in essentially the same way. Carbon capture, even if effective at the industrial level, addresses only part of the production chain; it does not eliminate the carbon released when the fuel is ultimately consumed. Canada is now committing billions of dollars toward carbon capture initiatives despite ongoing uncertainty surrounding their long-term economic and environmental effectiveness, while increasingly complex regulatory frameworks continue to discourage foreign investment in the nation’s broader energy sector.
• Carbon Capture → capital-intensive emissions-compliance infrastructure with questionable net-energy efficiency, uncertain economic scalability, and substantial taxpayer exposure reaching into the tens of billions ($20.0 - 30.0B) of dollars
To be clear: There is no such thing as “decarbonized oil”. Carbon capture technologies may partially reduce some emissions generated during the extraction, upgrading, or refining process, but they do not change the fundamental nature of the product itself. Once oil is burned, whether it originates in Canada, Saudi Arabia, or anywhere else in the world, it releases carbon dioxide and combustion emissions in essentially the same way. Carbon capture, even if effective at the industrial level, addresses only part of the production chain; it does not eliminate the carbon released when the fuel is ultimately consumed. Canada is now committing billions of dollars toward carbon capture initiatives despite ongoing uncertainty surrounding their long-term economic and environmental effectiveness, while increasingly complex regulatory frameworks continue to discourage foreign investment in the nation’s broader energy sector.
• Carbon Capture → capital-intensive emissions-compliance infrastructure with questionable net-energy efficiency, uncertain economic scalability, and substantial taxpayer exposure reaching into the tens of billions ($20.0 - 30.0B) of dollars