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  • The Story of oil video features the voice of Chris – one of our Cenovus employees.

    Wondering where the stats and information came from in the Story of oil video?

    You heard. . . The information came from. . .
    Almost 40% of the world today lives without modern energy.

    United Nations Development Programme. Human Development Report 2011, Sustainability and Equity: A Better Future for All, pp. 67-68.

    The report says that 2.6 billion people cook with sources such as wood, charcoal and dung. Assuming the world’s population is 7.1 billion, that means that about 37% of people don’t have access to modern sources of energy.

    With demand increasing, we’ll need 56% more energy worldwide over the next 30 years.

    U.S. Energy Information Administration. International Energy Outlook, 2013 (July 2013).

    Oil is forecast to remain number one because it’s reliable, it’s transportable and it’s available. That’s what makes it the best source of energy we have for our transportation needs.

    American Petroleum Institute. Energizing America: Facts for Addressing Energy Policy, p. 33 (September 2013).

    The API’s source was the U.S. Energy Information Administration’s Annual Energy Outlook 2013, Tables A1, A2 and A17.

    Oil is expected to supply 85% of the fuel needed to keep our planes, ships and vehicles on the move for years to come.

    American Petroleum Institute. Energizing America: Facts for Addressing Energy Policy, p. 33 (September 2013)

    The API’s source was the U.S. Energy Information Administration’s Annual Energy Outlook 2013, Tables A1, A2 and A17.

    Canada has lots of oil. Our oil sands contain the 3rd largest oil reserve on the planet.

    U.S. Energy Information Administration. International Energy Statistics

    Canadian Association of Petroleum Producers. Oil Sands Today: Quick Facts

    We also understand that the use of our product has an impact. [The graph shows that transportation accounts for 12% of global CO2 emissions.]

    World Resources Institute. Climate Analysis Indicators Tool (Global Anthropogenic GHG Emissions by Sector 2005).

    The Climate Analysis Indicators Tool is available on the website of the Center for Climate and Energy Solutions website.

    See sources used in the video
    See sources used in the video
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Our answers to your questions about greenhouse gas emissions, renewable energy and more...

Greenhouse gas (GHG) emissions are admittedly one of our industry’s biggest challenges. At Cenovus, we use a drilling technique called steam-assisted gravity drainage, also known as SAGD in the industry, to get oil from the oil sands out of the ground. GHG emissions are released when we burn natural gas to heat water, which creates steam. The steam is used to melt the rock-hard oil underground so it can be pumped to the surface.

One way we’ve been able to reduce our GHG emissions is by finding ways to use less steam in our oil sands operations. So far, our efforts have paid off. We’ve been able to reduce our GHG emissions per barrel by more than 30 percent since 2004. Our goal is to reduce that even more. Check out the technologies that are helping us achieve this goal http://www.cenovus.com/operations/technology.html.

Many people want to see a greater shift towards renewable energy. We agree that renewables are an important part of the world’s energy future. But renewables alone can’t meet global energy demand.

According to the U.S. Energy Information Administration, renewables only account for about 11 percent of the energy sources used in the world today. And forecasts show that renewables will only account for 15 percent of the world’s energy mix by 2040. So, for the foreseeable future, all energy sources – including renewables, nuclear, coal, natural gas and oil – will play an important role in meeting the world’s energy needs.

At Cenovus, we use a drilling technology that relies on injecting steam to get the oil from our oil sands projects out of the ground. The vast majority of the water we use to create this steam is either recycled or new salty water, which can't be used for drinking, animal consumption, or even for watering plants. The rest of the water that we use to create steam is fresh water, which we get from deep underground sources – not from rivers, streams, or lakes.

Besides making steam, our oil sands projects use fresh water for constructing ice roads in the winter, controlling dust in the summer and drilling. It’s also used for drinking water for our staff. This water comes from both underground and surface water sources.

There are many factors that make up the price of gasoline, including costs related to producing and refining the oil, taxes (federal, provincial and municipal), and costs associated with operating a retail gas station. There are also various market factors that impact prices such as local competition amongst gas stations, seasonal demand, and supply or demand constraints.

Natural Resources Canada answers a number of questions related to gasoline prices on their website: http://www.nrcan.gc.ca/energy/fuel-prices/4931


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