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My Newsroom / December 2, 2020

Estevan Plant Gets Nod in RBC Report

A new voice has been added to the discussion of carbon capture as a significant tool in transitioning the Canadian economy to lower carbon emissions.

The Economics unit at RBC Royal Bank has just issued a report on the economic impact of moving away from traditional energy sources in favor of greener ones. They note that the cost is high: abating a tonne of CO2 through production cuts results in $550 in lost production.

They argue that we need a plan to transition away from carbon output and capture technology can play a potent role. They point specifically to the Boundary Dam project in Saskatchewan as a Canadian solution to a Canadian problem. Removing this carbon could offset the use of natural gas or oil as feedstock for fertilizer production or creating clean-burning hydrogen.

Saskatchewan is recognized as a global leader in the carbon capture and storage field with more than a decade of development of storage techniques along with construction of a capture facility at a time when other countries such as China have plans to adopt carbon capture as part of its carbon neutrality initiatives.

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Filed Under: Economy, Environment Tagged With: boundary dam, carbon capture, carbon tax, CCS, environment, rbc

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