Carbon Capture and Storage Program.
With worldwide oil and gas demand pushing against 86 million barrels of oil a day, Canada’s resource rich, investment friendly, region of Alberta strikes a balance between increasingly unpredictable and unstable governments of major oil producing countries. That is why Canada is the number one oil and gas exporter to the United States of America, offering transparent, democratic and politically stable energy supplies. The Alberta oil sands, whose proven reserves are the second largest in the world, have become the fuel for the thriving Canadian economy, creating thousands of jobs throughout Alberta and Canada, generating record revenue and spurring technology, innovation and research.
At a time where global reserves of light and easily accessible supplies are dwindling rapidly, the enormous heavy reserves of the oil sands have given Alberta a predominate role in the world’s energy stage. Nearly all of the major oil and gas operators have a presence in Alberta, which has evolved into a center of excellence when it comes to developing technologies for clean production of the oil sands. Extraction techniques and engineering designs dramatically reduce water consumption that have served to minimize the environmental footprint of the oil sands, while helping increase production and optimize operational efficiency.
Many of the innovations in Canada focus on balancing economic prosperity with world-leading environmental stewardship. Their unique Carbon Capture and Storage (CCS) program, which is only one component of the province’s all-inclusive Climate Change Strategy, has the ambitious goal of capturing and safely sequestering 100% of the CO2 emitted into the atmosphere from the oil sands and other Alberta industrial facilities.
Comlementing the CCS program are the comprehensive initiatives to protect the province’s water supplies and return once industrial land to pristine landscape, effectively debunking what those in the administration and industry proclaim as the “myth of dirty oil.” On top of all that, Alberta, the only debt-free jurisdiction in North America, offers investors a completely transparent and business friendly environment with the lowest income and corporate tax rates on the continent.
