Vast releases of gas, along with future ‘methane bombs’, represent huge threat – but curbing emissions would rapidly reduce global heating
More than 1,000 “super-emitter” sites gushed the potent greenhouse gas methane into the global atmosphere in 2022, the Guardian can reveal, mostly from oil and gas facilities. The worst single leak spewed the pollution at a rate equivalent to 67m running cars.
Feb. 18, 2023 marked the one-year anniversary of Trans Mountain’s last construction cost update, when the price tag of the expansion project (TMX) ballooned to $21.4 billion — nearly triple the cost projected when Canada bought the embattled pipeline in 2018.
'Feels pretty good': Oil and gas investment in Canada to hit $40 billion in 2023, CAPP says
Up 11 per cent from last year, but still well off levels in 2014 when oil prices last boomed
CALGARY — Investment in oil and gas production in Canada will jump by 11 per cent to hit $40 billion in 2023, the country’s largest fossil fuel industry group said Wednesday.
Last July, the city of Vancouver pledged $1 per resident to bring a class-action lawsuit against the largest oil companies, but those funds are nowhere to be found in the 2023 budget.
In 1988, scientists working for the oil giant Shell wrote in an internal memo that the burning of fossil fuels, if unchecked, would lead to changes to sea level and weather “larger than any that have occurred over the past 12,000 years.”
Canada’s greenhouse gas emissions rose 2.8% in 2021, and fossil fuels accounted for more than half of the total, according to an “early estimate” released today by the Canadian Climate Institute (CCI).
The Institute’s analysis shows emissions continuing to “decouple” from GDP, so that each unit of economic activity produces less climate pollution. But the country’s total greenhouse gas output increased by 19 million tonnes, to a total of 691 megatonnes, in a year when the economy was just beginning to restart after the COVID-19 pandemic.
Fossil fuel giant Enbridge faces the risk of a “death spiral” as the energy transition to renewables unfolds, according to evidence the company filed with the Ontario regulator. A death spiral could occur when customers, fed up with the increasing costs of gas, switch to cleaner and cheaper sources of energy.
