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Energy Crisis Gives Canada Oil Sands Windfall for Green Projects

  • Canadian bankers see rising revenue speeding up transition
  • More cash helps put green projects back on the agenda
The global energy crisis that many blame on efforts to move away from fossil fuels is actually giving new momentum to the shift to renewables in Canada, according to some of the bankers helping oil-sands producers navigate that transition.

The global energy crisis that many blame on efforts to move away from fossil fuels is actually giving new momentum to the shift to renewables in Canada, according to some of the bankers helping oil-sands producers navigate that transition.

Photographer: Cole Burston/Bloomberg

The global energy crisis that many blame on efforts to move away from fossil fuels is actually giving new momentum to the shift to renewables in Canada, according to some of the bankers helping oil-sands producers navigate that transition.

That’s because, for all the doubt that’s been cast on the reliability of solar and wind power, surging oil and gas prices are providing more cash for major energy companies such as Suncor Energy Inc. and Cenovus Energy Inc. to pursue their long-term targets to cut emissions.