![]() We need to chart that path forward, and we need to chart it in an aggressive fashion. So the frustration with respect to lack of activity, lack of action - that’s been the single biggest challenge we had reaching a tipping point with myself and I think others in the business that we can’t rely on others. It was frustration that we have continued to talk and talk and talk about this, and our children are going to hang us up by the thumbs for our lack of action on this file. So there has been a massive change in terms of not only the sense of urgency that we see with respect to decarbonizing, but also how proactive we have become as an industry in terms of working with all levels of government to achieve these goals.įarah Nasser: Was there something specific that changed your view?ĭerek Evans, CEO MEG Energy: I’d say the specific piece was frustration. We need to be proactive in terms of how we’re how we’re presenting ourselves and how and laying out the plans that we do have and how they can be beneficial. You’re seeing large portions of the oil and gas sector, and particularly the oil sands sector saying this is something we need to turn our attention to and we need to agitate and get in front of government and say, this is how we can achieve your Paris Accord goals, as opposed to standing back and waiting for the government to come and provide incentives. ![]() We need to stop talking about it and get to work to decarbonize our future.įarah Nasser: Do you think that there’s been a real shift when it comes to the oil and gas sector in Alberta?ĭerek Evans, CEO MEG Energy: There’s a palpable shift… I’d say in the last three or four years, the urgency to get after doing more on the carbon file has has definitely increased. But we’ve got to get out of the way of ourselves. Now, all that being said, it looks like we’ve had some progress with the Supreme Court ruling in terms of a federal jurisdiction. But it’s been particularly hard to watch as it became a political issue as opposed to a technological and cost issue that we know that we can get after and manage. We’re keen to get on with what we think is the next and natural evolution of our business and getting rid of the carbon. What has been frustrating is watching decarbonization or CO2 policy get batted around in elections, or people having turf wars over who has jurisdiction or responsibility. And we’d like nothing more than to have the appropriate economic incentives to be able to get after decarbonizing the remainder of our production. I mean, we get painted as being slow to adopt the reality of the new carbon economy… We are all about bringing our carbon intensity down. The captured CO2 is then sent via pipeline to be permanently stored deep underground.ĭerek Evans, CEO MEG Energy: It’s been particularly frustrating. While the timeline and projected costs of the plan have not been released, he says the project could sequester emissions from other oil facilities nearby as well.Ĭarbon capture and storage involves chemically isolating carbon dioxide (CO2) that’s released when fossil fuels are burned. The head of an Alberta oil sands company hopes that the end of the political impasse on the carbon tax will help realize its ambition of utilizing carbon capture as a means to achieve net zero emissions by 2050.ĭerek Evans, CEO of MEG Energy, says that carbon capture and storage could effectively erase the emissions from its Christina Lake oil facility, south of Fort McMurray. As the world economy accelerates in the long race to decarbonize, Canada is quietly becoming a leader in carbon capture - a technology increasingly seen as indispensable in bridging the energy transition from fossil fuels to renewables.
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