Post says Athabasca Oil aims for "net-zero" production
Athabasca Oil Corp (C:ATH)
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Wednesday June 9 2021 - In the News
The Financial Post reports in its Wednesday edition that the most prospective means of achieving further meaningful net emissions reduction is carbon capture and storage. Guest columnist Eric Nuttall writes that Canada has the fourth-largest potential carbon sink in the world, given geology and historical production, and is already a centre of excellence in liquids extraction (and injection). While many companies are pursuing different versions of carbon capture, a newly formed company called Entropy may have achieved an infield technological breakthrough for modular carbon capture and storage. Athabasca Oil in April agreed to evaluate its technology to potentially develop Canada's first "net-zero" oil sands production. Mr. Nuttall says think of the implications. He believes oil demand will grow for at least the next decade, yet oil supply growth will remain challenged, depleting Tier 1 inventory. Without more oil production growth, the world is heading toward a supply crisis, yet few companies or countries can meaningfully expand their supply. If the Canadian oil industry were to successfully leverage carbon capture and storage with further process improvements, it could become the "global oil supplier of choice."