Alex Pourbaix, the president and chief executive officer at Cenovus Energy Inc., is in Washington, along with other major oil industry leaders, to make the case for Canadian oil’s ability to increase energy security and to highlight progress made on emissions reductions. “We really are the definition of energy security, but also [we are here] to remind politicians and legislators that we are not standing still on our environmental performance. The real focus is to bring people up to speed on the effort of the oil sands industry to really drive down emissions,” Pourbaix said Wednesday in an interview. He’s attempting to showcase Canadian oil as part of the answer to energy security issues that have been thrust into the spotlight following Russia’s invasion of Ukraine. Canadian oil can act as a solution, Pourbaix said, due in part to improvements in takeaway capacity after the expansion of Enbridge’s Line 3 pipeline and enhanced rail capacity. Developments in these areas has resulted in the ability to move about one million barrels out of the country each day, according to Pourbaix. “And on top of that, we have presently largely unutilized rail capacity. So our visit [to the U.S.] is not […]
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