09:47:20 EDT Wed 15 May 2024
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MEG Energy Corp
Symbol MEG
Shares Issued 283,492,321
Close 2023-10-13 C$ 27.14
Market Cap C$ 7,693,981,592
Recent Sedar Documents

FP says Cenovus's Pourbaix seeks handout for Pathways

2023-10-16 08:00 ET - In the News

See In the News (C-CVE) Cenovus Energy Inc

The Financial Post reports in its Saturday, Oct. 14, edition that Cenovus Energy executive chairman Alex Pourbaix says the Canadian oil patch can remove a significant amount of carbon from the economy with just a "fraction" of the billions of dollars that Ottawa is spending to build its battery industry. The Post's Naimul Karim writes that Mr. Pourbaix says Canadian fossil fuel companies are trying to remove 22 megatonnes of carbon dioxide by 2030 by using various technologies such as carbon capture and storage and nuclear energy. He says, "I can't imagine that any level of battery technology is going to achieve that kind of decarbonization." Cenovus is part of an organization called Pathways Alliance along with five of the other largest oil sands companies, including Suncor Energy and Canadian Natural Resources. Mr. Pourbaix says the government should support the alliance's goals. He says: "We are asking for a fraction of what the government has already given, as I understand it, to the battery manufacturers. If the goal here is to remove carbon from the economy at the lowest average cost, then I would suggest the government should take a very, very hard look at continuing to support our industry."

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