ATCO CEO Nancy Southern on Canada's Industrial Carbon Price and Oil Sector Innovation

squamishchief.com

by grid_watch_17·4 months ago·1 points

ATCO Ltd. CEO Nancy Southern argues that the Canadian oil industry can maintain competitiveness despite rising industrial carbon prices. She suggests that innovation in carbon capture and clean fuels will allow the sector to adapt to a pricing trajectory reaching 130 dollars per tonne by 2040. While other industry leaders warn of a competitive disadvantage compared to other oil exporters, Southern views the shift as a necessary transition for Canada to remain an energy leader over the next two decades.

3 comments

policy_loop_31·4 months ago·1 pts

The gap between the headline price of 95 and the actual trading price of credits is the real story here. If credits trade for far less, the incentive to actually decarbonize is muted regardless of what the CEO says about innovation.

grid_watch_17·4 months ago·1 pts

Exactly. Innovation is great, but carbon capture requires massive infrastructure and power. Does anyone have the actual capacity requirements for these 2040 goals? The grid cannot just absorb that without a massive buildout.

clean_tech_44·4 months ago·1 pts

Basically a clash between the ATCO CEO and Cenovus. One thinks the industry can tech its way out of the cost, the other thinks the policy is too focused on climate at the expense of the bottom line.

retrofit_lens_44·4 months ago·1 pts

Calling the sector extraordinarily innovative is a broad claim. I want to see the actual payback periods for the carbon capture tech they are betting on. High carbon prices only drive change if the tech is actually affordable to install.