Four of Canada’s largest oilsands producers are supporting Alberta’s new climate change policy.
In a joint statement Canadian Natural Resources Limited, Cenovus Energy Inc. Shell Canada Limited and Suncor Energy Inc. say the new climate plan provides them and other oilsands producers with predictability and certainty to allow them to responsibly develop the oilsands.
“Industry has seen results from working together,” said Murray Edwards, Chairman, CNRL. “This announcement removes barriers from collaboration with a broader group of stakeholders. We are all now working together to realize the full value provided by the oil and natural gas industry, including jobs, economic benefits and government revenues in a way that addresses the challenges associated with climate change.”
Jointly the four companies believe that the new carbon pricing regime is a game-changer, they hope it will help to make Alberta’s carbon more competitive on the global stage and allow Canadians to gain full value for their oil exports.
“It [climate change plan] enables Alberta to be a leader, not only in climate policy, but also in technology, innovation, collaborative solutions and energy development,” said Brian Ferguson, President & Chief Executive Officer of Cenovus Energy. “I believe it will lead to Albertans and Canadians receiving full value for their oil and natural gas resources, while addressing climate change.”
The new plan puts a 100 mega tonne limit on oilsands emissions currently the oilsands emit about 70 mega tonnes of greenhouse gasses.
“Canadians have high expectations of themselves when it comes to protecting the environment and managing economic growth, and the world expects much of Canada,” said Lorraine Mitchelmore, President and Country Chair Shell Canada and EVP Heavy Oil for Shell. “Alberta’s new climate change policy sends a clear message that Alberta intends to live up to those expectations.
Notley’s policy will also include a carbon tax that will climb to $30 per tonne by 2018.
“Today we reach a milestone in ensuring Alberta’s valuable resource is accompanied by leading carbon policy,” said Steve Williams, President and Chief Executive Officer, Suncor. “It’s time that Alberta is seen as a climate, energy and innovation leader.”
The average family in Alberta can expect to pay about $500 more per year thanks to the new carbon tax.
