• Sign up for the Daily Digest E-mail
  • Facebook
  • Twitter
  • LinkedIn

BOE Report

Sign up
  • Home
  • Headlines
    • Latest Headlines
    • Featured Companies
    • Columns
    • Discussions
  • Well Activity
    • Well Licences
    • Well Activity Map
  • Property Listings
  • Land Sales
  • M&A Activity
    • M&A Database
    • AER Transfers
  • Markets
  • Rig Counts
    • CAOEC Rig Count
    • Baker Hughes Rig Count
    • USA Rig Count
  • Industry Data
    • Canada Oil Market Data
    • Canada NG Market Data
    • USA Market Data
    • Data Downloads
  • Jobs

Carbon capture tax credit a divisive topic; opinions split over potential benefits

March 30, 202211:27 AM The Canadian Press0 Comments

Drilling rig in winter with pump jacks in background.

CALGARY – A new carbon capture and storage tax credit expected to be unveiled in the federal budget next week is spurring public debate.

Some environmental organizations are calling on the Trudeau government to scrap its pledged tax credit. They say funding carbon capture and storage projects is another way of subsidizing the oil and gas industry.

But Ottawa says increased use of carbon capture technology is necessary if Canada is to have any hope of meeting its net zero goals.

Carbon capture and storage is a technology that captures greenhouse gas emissions from industrial sources and stores them deep in the ground to prevent them from being released into the atmosphere.

The oil and gas industry has been lobbying for a tax credit to help pay for projects like a proposed carbon capture network in the oilsands producing region of northern Alberta.

Environmental think tank the Pembina Institute says capturing and storing C02 from oilsands facilities, refineries and gas plants could reduce Canada’s emissions by 15 million tonnes by 2030.

Follow the BOE Report
  • Facebook
  • Twitter
  • LinkedIn

Sign up for the BOE Report Daily Digest E-mail

Successfully subscribed

Latest Headlines
  • TC Energy to build $5 bln gas pipeline in Mexico, official says
  • U.S. natgas jumps 6% after big loss on hot weather, technical bounce
  • U.S. LNG exports fall to lowest since Feb after Freeport explosion -data
  • U.S. oil & gas rig count falls for first time in five weeks – Baker Hughes
  • InPlay Oil Corp. Announces Extension of Senior Credit Facility

Return to Home
Alberta Gas
CAD/GJ
Market Data by TradingView

    Report Error





    Note: The page you are currently on will be sent with your report. If this report is about a different page, please specify.

    About
    • About BOEReport.com
    • In the News
    • Terms of Use
    • Privacy Policy
    • Editorial Policy
    Resources
    • App
    • Widgets
    • Notifications
    • Daily Digest E-mail
    Get In Touch
    • Advertise
    • Post a Job
    • Contribute
    • Contact
    • Report Error
    Featured In
    • CamTrader
    • Rigger Talk
    Data Partner
    • Foxterra
    BOE Network
    © 2022 Grobes Media Inc.