This month’s two feature packages make for an interesting mix. Starting on page 38, you’ll find our third annual honour roll of, celebrating senior leaders in finance, operations, technology and more. Among the honourees is Jon McKenzie, formerly the COO of Cenovus, who was instrumental in pulling off the oil producer’s $2.9-billion acquisition of Husky Energy. So impressed was Cenovus’s board with McKenzie that in April, he succeeded retiring CEO Alex Pourbaix.
You’ve likely seen the Pathways Alliance’s “Let’s clear the air” ads, which ran during the World Cup and Super Bowl, on social media and in print across the country. The campaign trumpets the “clear strides” Cenovus, MEG Energy, Suncor, Canadian Natural Resources, ConocoPhillips Canada and Imperial Oil are making thanks in large part to carbon capture and storage, or CCS—sequestering emissions at the source, then tucking it underground.
A key plank of Greenpeace’s complaint is the fact that the alliance’s plan fails to account for more than 80% of emissions—the ones released when consumers actually burn the oil they extract . Furthermore, much of the CCS tech the companies are relying on to reach net zero, by their own admission, doesn’t exist yet, hasn’t been deployed at the scale proposed or is simply inefficient.
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