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Budget 2023: Industry lining up for carrots as Ottawa prepares to accelerate the green transition

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Budget 2023: Industry lining up for carrots as Ottawa prepares to accelerate the green transition — via financialpost

Carbon capture credits

“We would like to see something simple that puts Canada on the equal footing with the U.S.,” said Mark Cameron, vice-president of external relations at Pathways Alliance, a group of the five largest oilsands producers. “We have to start buying pipe and filing regulatory applications for our pipeline projects” to capture carbon.Article content

We're calling on Minister Freeland to use budget 2023 as an opportunity to finally deliver on the promise to end fossil fuel subsidiesCameron estimated that capital costs would account for about 40 per cent of the overall cost of a carbon capture facility over a 20-year span, while production tax credits represent 60 per cent.Article content

“We’re calling on Minister Freeland to use budget 2023 as an opportunity to finally deliver on the promise to end fossil fuel subsidies,” said Julia Levin, associate director, national climate at Ottawa-based Environmental Defence.Article content Instead, she contends those funds would be better spent investing in electricity — creating new distribution, shoring up grids and building more renewable power.

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