Energy
4 years ago

Oil Sands Can Achieve Carbon Neutrality by 2020 at Affordable Costs

Carbon neutral 2020 : a leadership opportunity in Canada's oil sands
Matt McCulloch, Martha K. Raynolds, Renee Garner Wong, R. M. Holmes

Paper Summary

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Canada's oil sands are a major source of greenhouse gas emissions. A report looked at how oil sands operations can become carbon neutral by 2020. They found that using carbon capture and storage or greenhouse gas offsets can help achieve this goal. The estimated cost per tonne of carbon dioxide equivalent ranges from US 22toUS22 to US 22toUS66. The cost per barrel for achieving carbon neutrality could be between US $2-14. The report suggests that becoming carbon neutral by 2020 is economically feasible, especially with high profit margins for oil sands companies.