• 4 minutes Is The Three Gorges Dam on the Brink of Collapse?
  • 8 minutes The Coal Industry May Never Recover From The Pandemic
  • 11 minutes China Raids Bank and Investor Accounts
  • 3 hours In a Nutshell...
  • 5 hours During March, April, May the states with the highest infections/deaths were NY, NJ, Ma. . . . . Today (June) the three have the best numbers. How ? Herd immunity ?
  • 1 hour Is OilPrice a cover for Green Propganda
  • 5 hours Putin Paid Militants to Kill US Troops
  • 1 hour Why Wind is pitiful for most regions on earth
  • 2 days Victor Davis Hansen on Biden's mental acuity " . . unfit to serve". With 1 out of 5 Democrats admitting it. How many Dem's believe it but will not admit it?
  • 2 days Tesla Model 3 police cars pay for themselves faster than expected, says police chief
  • 21 hours Putin Forever: Russians Given Money As Vote That Could Extend Putin's Rule Draws To A Close
  • 22 hours Happy 4th of July!
  • 3 hours Joe Biden to black radio host, " If you don't vote for me you ain't black". That's our Democratic Party nominee ?
  • 20 hours Apology Accepted!
  • 2 days The Political Genius of Donald Trump
  • 3 days Per most popular Indian websites it was Indian troops not Chinese troops breach of LAC that caused the clashes. If you know any Indian media that claim to the contrary please provide the link
How To Take Advantage Of The Energy Stock Selloff

How To Take Advantage Of The Energy Stock Selloff

Anything related to oil and…

Chinese Oil Majors Could Form A Powerful Buyers Club

Chinese Oil Majors Could Form A Powerful Buyers Club

China’s state-owned oil companies—Sinopec, CNOOC,…

Emissions Could Undo Canada's Latest Oil Sands Project

The fate of the latest oil sands mining project in Alberta may be decided by the estimates of carbon emission from the province’s oil and gas industry—and Alberta and the federal government differ on how fast the oil-rich province is approaching its carbon emissions limit.

According to data from the federal Canadian government, as cited by The Globe and Mail, Alberta will reach 87 megatons of emissions this year, while its cap is 100 megatons.

The provincial government of Alberta, however, argues that the emissions in Alberta’s oil industry are 67-68 megatons, as per Alberta Premier Jason Kenney.

The federal government of Canada is set to decide by the end of this month whether to approve Teck Resources’ Frontier Project—a truck-and-shovel oil sands mine located between Fort McMurray and Fort Chipewyan in northeast Alberta.

The project, like many other energy projects in Canada in recent years, is polarizing the country. Analysts expect the federal government’s decision to seal the fate of the oil sands industry in Canada.

“With half the emissions-intensity of the average oil sands projects, Teck Frontier represents the path forward for the world's third-largest oil reserves. It's important that Canada get it right and approve this project,” Alberta Premier Kenney said last week.

If the federal government rejects the project, it would send a “devastating message” to investors, he added.

“I think that would be a devastating message to send in terms of investor confidence at a time when we are struggling to attract foreign direct investment to the Canadian economy,” Kenney said.

The Frontier project, estimated to be worth US$15.6 billion (C$20.6 billion), is an open oil sands mine that would yield 260,000 bpd at peak production, with its life estimated at 40 years. Yet it must first be approved by the Liberal government that has strict climate change fighting goals. However, according to Teck Resources’ CEO Don Lindsay, the project may not go through even if the government grants it approval. The problem, he said during an investor conference in Alberta recently, was oil prices, among other things.  

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News