Americans ought to be happy to learn the United States doesn’t import the majority of its energy from Russia, Saudi Arabia, or Venezuela, amid this period of heightened anxiety over regional instability, future energy safety, and skyrocketing gas costs.
The United States’ oldest and most trustworthy trading partner is Canada. In reality, the U.S. bought 62 percent of the world’s crude oil from its northern neighbor in 2021.
What’s Going On?
Canada ought to be the U.S.’ go-to source for dependable, inexpensive supplies of sustainable products oil. That’s due to its third-largest oil in the world, which is mostly located in the oil sands area of northern Alberta.
Concerns about carbon dioxide (GHG) emissions from our activities have been a major focus of Canadian oil sands operators.
Over the past few years, we have dramatically decreased emissions per barrel; we are now totally committed to lowering production’s overall emissions.
The Oil Sands Paths to Net Zero Alliance was created by Canada’s six main oil producers, who together account for 95% of the country’s oil sands output.
So the energy crisis was planned? Quite a headline. pic.twitter.com/n0MWgWC0TJ
— BDW (@BryanDeanWright) June 15, 2022
With the help of the Canadian and Albertan governments, this historic alliance aims to cut GHG emissions in oil sands output by around 22 million tons annually by 2030. It also aims to eventually reach net-zero emissions from the output by 2050.
The Routes Alliance created a workable strategy in its first year of operation. Our firms have a team of engineers, researchers, and business executives working on the technological pathways which will help achieve our objectives.
Our staff will only expand as we carry out our strategy, which includes the fundamental project we’ve outlined.
That is a network of carbon capture and storage (CCS) facilities that will transfer collected CO2 from more than 20 oil sands plants to a storage center for secure, long-term underground storing.
International firms, like the Energy Agency and the United Nations Environment Program, have made it clear that pervasive CCS is necessary to mitigate climate change.
Our sector led the way in developing new technologies that have resulted in commercial-level projects both in Canada and abroad.
Trump literally predicted the energy crisis that is happening in Europe right now. Incredible.
— thebradfordfile (@thebradfordfile) June 20, 2022
One of the biggest CCS projects in the entire world would be ours. By 2030, this initiative alone may cut annual net greenhouse gas emissions from the first 11 facilities by around 10 million tons.
The following phases of the plan might further lower those emissions by another 30 million tons. In order to further reduce emissions, we are also developing new technological advancements.
These advancements include using hydrogen or tiny modular reactors to fuel our operations or even eliminating carbon dioxide straight from the atmosphere.
In order to fulfill the demands of the growing worldwide populace and combat climate change, the world continues to require oil as part of a diversified energy mix into the year 2050 and beyond.
Additionally, it is imperative to guarantee better energy safety and stability with oil and gas supply from stable, democratic nations that are dedicated to combating climate change.