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This report was authored by the Pembina Institute, and prepared in collaboration with industry contacts, academia and research institutes. This report describes real methods to decrease greenhouse gas emissions in Canada's oilsands through energy efficiency measures, carbon capture and storage and purchasing carbon offsets. Further, a detailed cost analysis is provided which outlines the costs of carbon neutrality through a variety of scenarios using a combination of carbon capture and storage and carbon offsets incorporating both in-situ and mining operations. This report concludes that oilsands companies could achieve "carbon neutral" (no net GHG pollution) production for as little as a few dollars per barrel of oil.