CALGARY — Canadian oil and gas companies are singing from the same songbook in the lead\u002Dup to the 2023 federal budget, and its title is the Inflation Reduction…
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
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