Yesterday at the Canadian Institute for Theoretical Astrophysics (CITA) I gave a talk on humanity’s energy history, the fossil fuel energy system, and potentially climate-safe alternatives:
Blackboard seminar on climate
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climate change policy, science, and activism; photography; cartography and mapmaking
Fossil fuel use, emissions hit record highs in 2023, industry report says
Renewables’ share of global energy consumption reaches nearly 15 percent, an all-time high.
https://www.aljazeera.com/economy/2024/6/20/fossil-fuel-use-emissions-hit-record-highs-in-2023-industry-report-says
Emissions cap not possible without oil, gas production cuts: Deloitte
https://calgaryherald.com/business/emissions-cap-not-possible-without-oil-gas-production-cuts-deloitte
Canadian oil and gas companies facing a federally imposed emissions cap will decide to cut their production rather than invest in too-expensive carbon capture and storage technology, a new report by Deloitte says.
The Alberta government-commissioned report — a copy of which was obtained by The Canadian Press — aims to assess the economic impact of the proposed cap.
Its findings contradict the federal government’s stance that its proposed cap on greenhouse gas emissions from the oil and gas sector would be a cap on pollution, not a cap on production. And it supports Alberta’s position that a mandated cap would lead to production curtailments and severe economic consequences.
But the Deloitte report also casts doubt on the idea that widespread deployment of carbon capture and storage technology will drive down emissions from the oil and gas sector in the coming years, suggesting that scenario doesn’t make financial sense.
“We expect that the cap (will impose) 20 megatonnes in emissions reduction on producers by 2030, which will need to be achieved by CCS (carbon capture and storage) investments, or through production curtailment,” the Deloitte report states.
“Curtailing production would be a more cost-effective option compared to investing in CCS.”