Related Articles
A climate rally in Washington, DC
Forward article link
Share PDF with colleagues

Letter from Canada: Net zero poses existential threat to oil sands

Oil sands producers will need to make drastic changes if they are going to survive the next few decades

One would not need to be a rocket scientist to know that decarbonisation of the global energy mix is bad news for Canada’s oil sands industry. There has been an exodus of foreign oil companies from the resource since the 2014-16 oil price crash, while some remaining actors have taken large write-downs on their oil sands holdings in the past year or so as the climate change movement has picked up steam. But it was not until the release of the IEA’s Net Zero by 2050: A Roadmap for the Global Energy Sector report in mid-May, with its net-zero emissions (NZE) scenario—possibly the definitive one for meeting the Paris Agreement’s stretch goal of limiting the rise in global temperatures to 1.5°C—



{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
Letter from South America: Bolivia's shrinking gas role
21 January 2022
Declining production and cheaper LNG threaten the country’s role as gas supplier to its neighbours
US LNG eases European storage crisis
20 January 2022
The US is set to play an even larger role in the global gas market this year, with the country gearing up to overtake Australia as the world’s largest LNG exporter
Wintershall Dea quits Brazil, Argentine shale
20 January 2022
The German independent is overhauling its Latin American portfolio
Sign Up For Our Newsletter
Project Data
PE Store
Social Links
Social Feeds
Featured Video