Lower emissions give Imperial confidence oilsands projects will be approved
CALGARY — The CEO of Imperial Oil said Wednesday he’s confident that two multibillion-dollar oilsands projects facing regulatory review in Alberta will be approved, despite the NDP government’s climate change policies which include a hard cap on overall greenhouse gas emissions.
Rich Kruger said the company’s Aspen and Cold Lake Expansion projects in northern Alberta will use new technologies that mean they will be more energy efficient, use 25 per cent less water and produce 25 per cent lower emissions than most existing facilities.
“We’re excited about (the projects) because, not only do we think we’ve developed technologies and know-how here that can compete in a lower-price world, but these projects really represent a step change improvement in greenhouse gas emissions relative to the industry standard,” he said.
“We think these are exactly the type of projects that should be approved and supported in Alberta.”