Sports Ticker

The Drilldown: Suncor Energy Inc. seeks extension for Base Mine project

iPolitics

Today’s Drilldown is brought to you by Kivalliq Hydro-Fibre Link. The Kivalliq Hydro-Fibre Link is an Inuit-led infrastructure project that will deliver renewable energy and broadband services to remote communities and industry in Nunavut, driving job growth and greenhouse gas reductions. Let’s build the future today!

The Lead

Oil-giant Suncor Energy Inc. has filed an application with the goal of carrying on its main oilsands project, the Base Mine, according to the Financial Post.

If approved, the mine extension would use “new technologies” that could be helpful when reducing GHG emissions and the carbon footprint as a whole, according to the application made by the company. It is expected to have an output of 225,000 barrels of oil per day. The company says the facility will be decommissioned in 2055, after 25 years of operation.

Suncor intends to sit before regulators for the next six years to secure approval of the project, which isn’t expected to start operations until 2030. The company is seeking approval for more production as its existing mines have only 15 years left in their lifespans.

Internationally

U.S. Senators are expected to deliberate on a bipartisan energy bill called the American Energy Innovation Act this week, which according to Senator Joe Manchin, has an inclusive approach to the energy sector and doesn’t count out fossil fuels. The legislation centres in on developing investment in efficient energy sources and innovation, renewable energies and technologies, as well as to advance research in coal-based energy, reported News and Sentinel.

Meanwhile, the Saudi-led intervention in Yemen intercepted an attack that was headed for an oil tanker on the Arabian Sea yesterday, according to Reuters. The tanker was targeted by four vessels, but it is not yet known who was behind the attack.

On Wednesday morning, Brent Crude was at US$52.61 and West Texas Intermediate US$47.98.

In Canada 

Ontario’s provincial government will be investing over  $10.5 million to support research and development in new mining technologies. This money will be dispersed among 28 companies that provide the mining sector with products and services. SHYFTinc will receive $900,000 from Ontario to go towards stimulating job growth, as well as economic prosperity within northern Ontario. Mining Technology has more.

In other news, Canada’s mining sector may start to experience the aftermath of rail blockades soon, to the worry of industry stakeholders.

“The Canadian mining industry accounts for half the total rail freight volume moved within Canada. That is a massive volume of goods, and when thinking about Ontario as Canada’s largest mining jurisdiction, a significant volume of that product moves on rails,” says Brendan Marshall, the Vice President of the Mining Association of Canada. Global Mining Review has more.

Noteworthy

In Opinion

In an Op-ed for the Toronto Star, Richard Carlson, a director of energy policy at Pollution Probe, discusses the closure of Pickering’s nuclear plant, which will be shutting down by 2025. Carlson explained that, while Ontario is primarily a low-emission province — 95 per cent of its energy comes from clean sources —there are no replacement measures in place for the nuclear plant, and particularly, none that consider emissions-reduction. He states that reducing the demand could help to avoid the need for new energy infrastructure, but that conserving energy is not the only solution. Carlson maintains that there has been a shift in the market, and that as renewable energy becomes more affordable, this may not only be helpful when considering the reduction of emissions, but it could also help energy consumers save money. He wraps his piece by noting that there needs to be an update in the province’s energy policy, wherein the benefits of energy conservation and cost are both taken into account.

Go to Source