Canadian industry singing praises of Inflation Reduction Act as federal budget nears

The IRA has been widely praised for kick-starting the global clean energy investment race. But here in Canada, some companies have said the U.S. incentives are so attractive that it’s impossible to compete.

That difference will mean a much faster deployment of carbon capture technology in the U.S., said Mike Belenkie, CEO of Calgary-based Advantage Energy Ltd, which — through its subsidiary Entropy Inc. — already has a commercial-scale carbon capture project up and running at its Glacier gas plant in northwest Alberta.

Dan Woynillowicz, a B.C.-based climate and energy policy consultant, said companies have a point when they say the U.S. is right now offering more “carrots” for emissions reduction projects. “I understand why companies would prefer to only have carrots, but governments are not responsible for the shareholder’s interest, they’re responsible for the public interest.”

“To really take advantage of that opportunity at a time when the U.S. is driving very, very hard to seize that opportunity for itself, I recognize that the government will have to make some additional investments,” Freeland told reporters earlier this month.Article content

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Canadian industry singing praises of Inflation Reduction Act as federal budget nearsCanadian oil and gas companies are singing from the same songbook in the lead-up to the 2023 federal budget, and its title is the Inflation Reduction Act. So we’re trying to incentivize companies here in Canada with regulations whike the US is offering subsidies? Sounds like the O&G companies are telling us to politely fuck off. straight from the CCP headquarters The only industries that are singing, are the ones who have ties to the Liberal Party.... For example CTV who are singing every month when the Liberals hand them out tax dollars.
Source: CTVCalgary - 🏆 26. / 68 Read more »