Carbon-dioxide emissions per barrel of oil produced from Alberta’s oil sands will probably fall to levels of conventional drilling in as little as a decade, Suncor Energy’s chief executive Rick George said, according to a report.
“With these new technologies, I wouldn’t be at all surprised if we can actually get to conventional kind of levels in the next 10 to 15 years,” George said this week at an industry event in Calgary, Bloomberg reported.
“It’s not tomorrow. But I wouldn’t underestimate this industry’s resolve or ability to drive change.”
Oil-sands crude results in emissions from production and consumption in vehicles that are about 20% higher than the average emissions of conventional oil production in the US, according to the Natural Resources Defense Council.
Total emissions from the oil sands will likely increase eightfold from 1990 levels by 2020, Canada’s Pembina Institute says, according to Bloomberg.
Canada holds the world’s third-largest crude reserves, behind Saudi Arabia and Venezuela, according to the Canadian Association of Petroleum Producers, which represents oil and gas companies.
Those deposits are spurring investments that will be worth C$20 billion ($19.2 billion) annually, George said.
Output from oil-sands projects is expected to more than double to 3.5 million barrels in 2025, from 1.4 million last year, according to the industry association.
“With these new technologies, I wouldn’t be at all surprised if we can actually get to conventional kind of levels in the next 10 to 15 years,” George said this week at an industry event in Calgary, Bloomberg reported.
“It’s not tomorrow. But I wouldn’t underestimate this industry’s resolve or ability to drive change.”
Oil-sands crude results in emissions from production and consumption in vehicles that are about 20% higher than the average emissions of conventional oil production in the US, according to the Natural Resources Defense Council.
Total emissions from the oil sands will likely increase eightfold from 1990 levels by 2020, Canada’s Pembina Institute says, according to Bloomberg.
Canada holds the world’s third-largest crude reserves, behind Saudi Arabia and Venezuela, according to the Canadian Association of Petroleum Producers, which represents oil and gas companies.
Those deposits are spurring investments that will be worth C$20 billion ($19.2 billion) annually, George said.
Output from oil-sands projects is expected to more than double to 3.5 million barrels in 2025, from 1.4 million last year, according to the industry association.