22:17:37 EDT Wed 15 May 2024
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or Name
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CA



Athabasca Oil Corp
Symbol ATH
Shares Issued 586,017,374
Close 2023-07-14 C$ 3.40
Market Cap C$ 1,992,459,072
Recent Sedar Documents

Globe says Suncor, rivals seen slashing production

2023-07-17 08:05 ET - In the News

See In the News (C-SU) Suncor Energy Inc

The Globe and Mail reports in its Monday edition that Canada's oil sands will likely have to slash up to 1.3 million barrels a day of production to meet 2030 federal emissions-reduction targets, says an analysis by S&P Global, resulting in the loss of somewhere between 5,400 and 9,500 jobs. The Globe's Emma Graney writes that the numbers underscore Alberta government fears that federal emissions-reduction goals are too much, too fast. Under Canada's climate plan, the oil and gas sector is to reduce its emissions to 42 per cent below 2019 levels by 2030. The industry and Alberta have long argued that the target will threaten the province's most important economic driver. Proponents counter that a failure to significantly hasten emissions reductions in the oil and gas sector puts at risk Canada's ability to meet its climate commitments and limit the effects of climate change. The S&P report analyzed only the oil sands, which produce the bulk of Canada's crude. Pathways Alliance president Kendall Dilling says reaching federal targets by 2030 "is simply not realistic given current technology, construction and regulatory requirements." Alberta's United Conservative government will likely concur with Pathways.

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