Canada’s Government Sees No Further Subsidies for Carbon Capture
The Shell Quest Carbon Capture and Storage facility near Edmonton, Alberta, Canada, on Monday, July 20, 2023. The Canadian federal government’s proposed tax credits to support carbon capture projects already are “robust” and probably won’t be increased, the country’s natural resources minister said.
Photographer: Jason Franson/BloombergThe Canadian federal government’s proposed tax credits to support carbon capture projects already are “robust” and probably won’t be increased, the country’s natural resources minister said.
The federal government has offered oil-sands industry 50% tax credits for the cost of building carbon capture and storage plants, and talks are underway with Alberta’s provincial government over additional support. Oil-sands producers are waiting to learn what kinds of federal and provincial help they will receive before greenlighting construction of a C$16 billion ($12 billion) carbon capture system aimed at helping slash 22 million metric tons of emissions by 2030.