This statement is attributable to Deborah Yedlin, President & CEO at the Calgary Chamber of Commerce
“The Calgary Chamber of Commerce welcomes the memorandum of understanding (MOU) between Canada, Alberta and the Oil Sands Alliance to reduce emissions via the Pathways carbon capture and storage project. At a time when energy security remains at the forefront of the global economy and uncertainty continues to shape energy supply, the world is looking to Canada to increase energy production and exports to help ensure market stability. We recognize the efforts made by both governments and the companies represented in the Oil Sands Alliance to work together to meet this moment and unlock Canada’s full economic potential.
“Equally important, the agreement signals changes to fiscal and regulatory frameworks that will give companies the confidence to invest the capital required to increase production. Stable, predictable regulations and streamlined processes are essential to unlocking the private capital needed to achieve Canada’s goal of becoming an energy superpower.
“With oil sands operators expected to reduce greenhouse gas emissions by 16 million tonnes by 2045 through Pathways, alongside broader emissions reductions of six million tonnes annually, we are also pleased to see governments expand tax credits that incentivize producers to deploy the capital needed to reduce emissions. Building on Alberta’s submission to the Major Projects Office for a pipeline to the west coast, this framework is a vital step in providing the certainty producers need to move forward with pipeline construction and expanding production. Beyond today’s announcement, we encourage parties to continue working together to strengthen the competitiveness of Alberta’s energy sector through stable regulatory frameworks and streamlined approval processes.”
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About the Calgary Chamber of Commerce
The Calgary Chamber exists to empower our business community to advance a prosperous Calgary and Canada. As the convenor and catalyst for a vibrant, inclusive and prosperous business community, the Chamber works to build strength and resilience among its members and position Calgary as a magnet for talent, diversification and opportunity. As an independent, non-profit, non-partisan organization founded in 1891, we build on our history to serve and advocate for businesses of all sizes, in all sectors across the city.
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