www.lexpert.ca 7
"WE'RE NOT SEEING THAT MONEY
GO BACK INTO THE GROUND
IN WAYS THAT, I THINK, MAY
HAVE HAPPENED IN EARLIER
BUST-AND-THEN-BOOM CYCLES"
Simon Baines
OSLER HOSKIN & HARCOURT LLP
business into their development strategies.
According to Kerr, this includes directing
capital toward new tech-
nology and the tech-
nological upgrades that
will bolster their emis-
sions-reduction abilities.
e Pathways Alliance
represents these efforts,
he says. e organi-
zation comprises six
companies representing
95 percent of Canada's
oil sands produc-
tion: Canadian Natural, Cenovus Energy,
ConocoPhillips Canada, Imperial Oil,
MEG Energy, and Suncor Energy. e
Pathways Alliance says it will achieve net
zero carbon emissions by 2050 through
carbon capture and storage, process improve-
ments, electrification and fuel substitution,
energy efficiency, and emerging technology,
aided by partnerships with Ottawa and
provincial governments.
While Kerr says Canadian producers
have always been responsible for their
development and environmental consid-
erations, there has never been this level
of capital spending on these programs.
He says this shows that the sector is open
to change and is looking to balance the
competing demands of producing today's
required commodities while looking to
find alternative energ y sources.
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