{"id":22527,"date":"2023-07-18T15:12:31","date_gmt":"2023-07-18T19:12:31","guid":{"rendered":"https:\/\/blogs.edf.org\/energyexchange\/?p=22527"},"modified":"2023-09-05T11:53:23","modified_gmt":"2023-09-05T15:53:23","slug":"analysis-cutting-oil-and-gas-methane-is-one-of-canadas-most-affordable-climate-solutions","status":"publish","type":"post","link":"https:\/\/blogs.edf.org\/energyexchange\/2023\/07\/18\/analysis-cutting-oil-and-gas-methane-is-one-of-canadas-most-affordable-climate-solutions\/","title":{"rendered":"Analysis: Cutting oil and gas methane is one of Canada\u2019s most affordable climate solutions"},"content":{"rendered":"

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By Ari Pottens<\/a> and <\/em>Maureen Lackne<\/em>r<\/a><\/p>\n

New research<\/a> confirms that cutting methane emissions from the oil and gas sector is one of the fastest and most affordable steps Canada can take to help address the climate crisis. According to the report by Dunsky Energy + Climate Advisors, Canada\u2019s upstream oil and gas companies can eliminate 75% of their methane emissions at an average cost of about $11 per tonne.\u00a0<\/span><\/p>\n

\"Marginal<\/a><\/p>\n

This is one of the biggest bargains that exists when it comes to climate solutions. For example, were oil and gas companies subject to Canada\u2019s entire carbon price, they would need to pay $65 per tonne of carbon pollution they create. By 2030, this figure will rise to $170 per tonne. Meanwhile, technologies that can directly capture carbon dioxide from the atmosphere are estimated to cost<\/span> between $125 and $335 USD per tonne<\/span><\/a>, an astronomical figure compared to methane abatement.\u00a0<\/span><\/p>\n

Why methane now?\u00a0<\/b><\/p>\n

Methane is an extremely potent greenhouse gas that\u2019s responsible for over a quarter of current global warming. It is intensifying wildfires, <\/span>melting Arctic summer sea ice<\/span><\/a>, <\/span>creating more intense storms<\/span><\/a> and <\/span>deteriorating air quality<\/span><\/a>.\u00a0\u00a0<\/span><\/p>\n

Back in 2021, Canada joined over a hundred other countries which <\/span>pledged<\/span><\/a> to help reduce global methane emissions 30% by 2030. The government then went even further, pledging to <\/span>reduce 75% of methane emissions from the oil and gas sector<\/span><\/a> over that same period. This assessment confirms that not only is that goal achievable, but it\u2019s also extremely affordable.\u00a0\u00a0<\/span><\/p>\n

That\u2019s because methane essentially is natural gas. When it leaks out of pipes, tanks and other equipment, it not only generates climate pollution, it also leads to a lot of energy waste. The oil and gas sector is the <\/span>largest source of methane pollution in Canada<\/span><\/a>, and according to the report, the methane gas that could be saved, rather than emitted, is enough to meet the annual gas needs of more than 750,000 Canadian homes \u2013 roughly equal to all the households in Montreal.\u00a0<\/span><\/p>\n