A windfall tax on oil companies to fund cheaper energy bills for consumers could in fact leave people worse off and drive up the price of gas in the future.
Ovintiv Inc. (OVV) expects capital expenditure between $1.7 and 1.8 billion for the full year, up from the previous guidance of $1.5 billion, to reflect an increase in service costs.
Eventually, the project could store up to 15 million metric tons of CO2 per year across multiple onshore sites.