The fate of Canada's largest proposed carbon capture and storage project is clouded by Prime Minister Justin Trudeau's resignation and the looming federal election. The $16.5 billion project, aimed at capturing emissions from the oilsands, faces uncertainty due to political instability and the likelihood of a new federal government with potentially different climate policies.
The fate of Canada 's largest proposed carbon capture and storage project is even more uncertain after Prime Minister Justin Trudeau's resignation announcement this week amplified existing unknowns around the future of energy and climate policy in Canada , experts say.A small handful of carbon capture projects already exist in Alberta, including the Quest facility at Shell's Scotford complex northeast of Edmonton.
But industry watchers say the project's future is cloudy due to current political turmoil and the likelihood that a new federal government will be elected this year. Fate of giant carbon capture project still uncertain, but Pathways Alliance hopeful for deal with fedsThe Pathways Alliance is made up of six oilsands companies that have jointly committed to achieving net-zero greenhouse gas emissions from oilsands production by 2050.
Scott Crockatt — spokesperson for the Business Council of Alberta, a group whose membership includes major oilsands companies — said while an extended period of political uncertainty poses challenges for businesses overall, the Alberta companies that have proposed decarbonization projects in recent years remain committed to that goal.
The Liberal government has also promised a mechanism to backstop the price of carbon in order to give certainty to companies considering investing in emissions-reducing technology. But while the federal Canada Growth Fund has been in talks with the Pathways Alliance on this topic, details of a project-specific agreement have yet to be hammered out.
Andrew Botterill — energy, resources and industrials partner at Deloitte Canada — said any future weakening of the industrial carbon pricing system or emissions allowances would damage the business case to invest in decarbonization technology. That's why a looming election on the horizon could delay or prevent final investment decisions, he said.
CARBON CAPTURE CLIMATE POLICY ENERGY CANADA FEDERAL ELECTION OIL SANDS
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