'Canada will get left behind': U.S. incentives for carbon capture could lure investment south

The Biden administration’s new climate package has been celebrated around the world as a game-changer in the fight to reverse climate change. In Canada, much of the attention has focused on new subsidies for electric vehicles that are made primarily with parts from North America, a lifesaver for Ontario’s automobile industry and a new source of hope for miners who own claims on the minerals that will be needed for the batteries.

“We will not invest material amounts of our financing in Canada unless they fix this problem,” Belenkie said. “We will take our capital and we will invest in projects with a strong bias towards the United States.” The group — Canadian Natural Resources Ltd., Cenovus Energy Inc., ConocoPhillips Canada, Imperial Oil Ltd., MEG Energy Corp. and Suncor Energy Inc. — has been lobbying the government for support to achieve its goal of reaching net zero by 2050, largely through large-scale deployment of CCUS.

Could

For 2 reasons: Feds have made the carbon pricing system so incredibly complex that it’s a nightmare to understand. Provincial regulatory authorities are on a steep learning curve and can’t manage an integrated approval process. Industry is ready and waiting for regulatory!

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'Canada will get left behind': U.S. incentives for carbon capture could lure investment southBiden\u0027s new climate package outstrips what\u0027s on offer from Canada in terms of tax credits and price assurances. Find out more.
Source: calgarysun - 🏆 63. / 52 Read more »

'Canada will get left behind': U.S. incentives for carbon capture could lure investment southBiden\u0027s new climate package outstrips what\u0027s on offer from Canada in terms of tax credits and price assurances. Find out more. These carbon capture and credit schemes are a bust just waiting to happen. Let the US take the lead. Good, they can stay there too, for good! I hear we are cutting down old growth forests so the UK can burn the pellets for green renewable energy? LMFAO... f*** all of you virtue signaling greenies. Some of the biggest Hypocrites and phony fake people I've ever met
Source: nationalpost - 🏆 10. / 80 Read more »