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Canada can hike oil output and decarbonize — 'but at significant cost,' says RBC report

Calgary Herald: 'Canada can increase oil and gas production to meet energy security concerns, but it also faces the prospect of making major investments to meet its climate goals — a price tag that could require up to $65 billion in spending in the oilsands by 2030.

'These are among the key conclusions from Canada’s largest bank in a new report that examines the complex balancing act today surrounding climate policy and security of supply concerns.

'In a study released today, the Royal Bank of Canada says the country can increase oil production by up to 500,000 barrels per day over the next year.

'However, this could add another nine million tonnes of greenhouse gas emissions annually, costing $1.5 billion a year to abate, while delivering potential net benefits to the country worth $10.5 billion, RBC economists found.'

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