A 50% reduction in carbon intensity and climate impact?
Why not?
It is time to stop tinkering at the margins and let’s set bold
goals to get Canadian Oil Sands energy to market AND make it palatable in our
increasingly carbon and climate focused world.
Canadian Oil Sands are one of the world's largest petroleum
reserves, and the only major reserve located in a politically stable
region. A major investment in improving
the carbon/climate impact would pay dividends to Alberta, Canada and the world for
decades.
We’ve seen that no matter how loud governments cheer for the
project, or how friendly they make environmental rules, the pipelines just
don’t seem to get approved. Climate
change and carbon are increasingly important to society. Dirty energy, as the oil sands have been
branded, can expect increasing opposition and challenges at every step, from
inside Canada and globally
This won’t change anytime soon. Unless the oil sands industry embraces carbon
and climate issues and takes them head on.
And, with the economic malaise Canada and Alberta is in, and provincial
and federal governments poised to make strategic interventions, this is a
perfect time.
It is time for industry and both levels of government to
come together and accept and finance the challenge of making oil sands energy
acceptable to a carbon conscious public.
A good starting point is to determine the carbon, GHG and
climate impact intensity of the industry today.
There seems to be a lot of confusion and misinformation around this
issue so let’s clear it up. Whatever the
number is, let’s know it and let’s accept that it has to improve. A lot.
A real, real lot.
How can it be improved?
I don’t know, but I know it can’t be improved and won’t be improved
unless industry and government come together, commit to improving it and invest
heavily to achieve that commitment.
What would happen if they agreed to cut the carbon, GHG and
climate impact intensity of oil sands industry by 50% in 5 years? It would be a huge step forward in gaining
(or regaining) a global social license for the industry.
Canadian scientists, engineers, universities and research
facilities would be resourced and motivated to develop new technology and processes
that would not only apply to the oil sands but would have impact across other
industries and sectors struggling to reduce their impact.
New technology and solutions would be developed by Canadians
and could be applied in other industries and other sectors, supporting Canadian
business and carbon management. Canada
would continue moving away from its former status as a climate change laggard.
What would it cost to cut impacts by 50%? I don’t know.
Billions I guess. But, what is
the alternative. The public and markets
won’t get less interested in the environmental impact. Pipeline permits won’t magically appear.
I suspect that if Industry and government doesn’t take this
issue head on with a BHAG (Big Hairy Audacious Goal) that they all embrace, we
will see much of the energy from oil sands remain untouched, costing the
provincial and national economy far more than it would cost to take the
challenge head on.
So, let’s just do it. Embrace a 50% reduction in the climate impact
of the oil sands industry by 2022.