Canada's oil sands carbon capture project cost unclear as taxpayers asked to fund marginal emissions cuts

A new report from Canada's National Observer reveals that the federal government has signed a memorandum of understanding with Alberta and five oil sands companies to support a massive carbon capture and storage (CCS) project, but key details on cost and financing remain unknown. Initial estimates pegged the price at $16.5 billion, but Cenovus's CEO now says it could land between $20 billion and $30 billion. The government has not disclosed how much taxpayers will pay or how costs will be shared among partners. The project aims to reduce annual greenhouse gas emissions by 6 million tonnes by 2035, which represents only a 6.2 percent cut from current oil sands emissions. Critics argue this is marginal compared to planned production increases that could push total emissions to over 1.7 billion tonnes annually. Environmental groups call the project a textbook case of greenwashing, while the government says more details will come at an appropriate time.