Oil & gas sector is committed to reduce its GHG emissions . Since the beginning of the oil sands operations , emissions per barrel has DECLINED .
Oil & gas sector iscommitted to reduce its GHG emissions.Sincethebeginning of theoilsandsoperations, emissions per barrel has DECLINED. • Projectedemissionsfrom 2013 calculateanincrease of 38 Mt CO2eqby 2020 relative to 2005 (a reduction of 13.6% from 2012’s projections) • Projections show thatCanadawill miss theCopenhagenaccordby 122 Mt of CO2eq, althoughtheydo notincludefuturemeasures. CAPP – GHG emissions Source: “Canada’sEmissionTrends”. EnvironmentCanada, 2013 • Pipelines need to be constructedbecausethey use significantlylessenergyto operate and have a lowercarbonfootprintthantankertrucks and rail cars. • 14,977 tankertrucksor 5,491 big rail cars (600 barrels of capacity) wouldneed to be usedif pipelines are notconstructed.
CAPP – Market Access • Transportation needs to grow along with production • Oil sands production projections show 5.2 million b/d by 2030 in Canada • Growing Asian demand projection – 15.7 million b/d by 2030 • Pipeline expansion across Western and Eastern Canada is necessary to provide access to Asian and U.S. Markets.
CAPP and Climate Policy • Climate policy shouldn’t be structured to prevent expansion of oil sands but we can mitigate its effects where technology allows • We recommend a strategy that is driven by prosperity arising from growth in both increasing sustainable hydrocarbon production and renewable energy. • Strong emphasis on step change technology and innovation to improve environmental performance and cost competitiveness across full spectrum of energy supply and use, including hydrocarbons. • Production of hydrocarbons with lower the carbon intensity viewed as a key requirement for Canada’s future economic prosperity. • Market diversification and infrastructure development is a key success factor and applies to hydrocarbons, renewable energy and clean technology. • Responsible environmental performance, including greenhouse gas emissions reductions, is a very important element, but not the overriding strategic driver. • Energy conservation and efficiency is a priority.