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illuminem summarizes for you the essential news of the day. Read the full piece on Oil Price or enjoy below:
🗞️ Driving the news: Canada’s $16.5 billion carbon capture and storage (CCS) project faces an uncertain future following Prime Minister Justin Trudeau’s resignation
• The Pathways Alliance project, aimed at reducing emissions from the oil sands, depends on strong government backing, which may waver under new leadership.
🔭 The context: Canada’s oil sands are among the world’s most carbon-intensive oilfields, producing ~160 pounds of CO₂ per barrel
• While CCS is central to Canada’s net-zero by 2050 goals, high costs and unclear policy support have delayed investments
• Alberta’s premier supports reducing emissions but remains committed to oil production, diverging from federal climate targets
🌍 Why it matters for the planet: Delays or cancellation of Canada’s flagship CCS project could hinder global progress toward decarbonizing heavy-emitting sectors
• With the U.S. and other nations advancing CCS technologies, Canada risks falling behind in leveraging this critical tool for combating climate change
⏭️ What's next: The federal government’s upcoming leadership change will determine the future of CCS policy and funding
• Alberta’s proposed incentive programs and tax credits will also play a key role in whether the sector can attract necessary investment
💬 One quote: "When you’re looking at a project with at least a 15-year horizon, you want as much certainty as possible. And there’s just more uncertainty than I can remember." – Michael Bernstein, Executive Director, Clean Prosperity
📈 One stat: Oil sands production emits ~160 pounds of CO₂ per barrel, the highest of any oilfield globally
Click for more news covering the latest on carbon capture & storage
