.jpg)
1 hour ago
2
Article content
(Bloomberg) — Canada’s energy minister said the government’s push to build carbon capture technology in the Alberta oil sands ensures the industry is adapting to change even as the US reverses its environmental policies.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
“We’re future proofing our industry,” Tim Hodgson said at an event in Calgary. “We’re making sure we’re not that country that gets billions of stranded assets because we didn’t keep up with best in class technology.”
Article content
Article content
He made that point a day after President Donald Trump said the Environmental Protection Agency was rescinding a scientific determination that greenhouse gases pose a threat to human health and welfare. The Trump administration has aggressively pursued fossil fuel development while abandoning former President Joe Biden’s signature climate policies.
Article content
Article content
The Canadian government signed a memorandum of understanding late last year with the province of Alberta that pledged backing for a new oil pipeline in exchange for a higher industrial carbon price and a timeline for building the C$16.5 billion ($13.9 billion) Pathways Alliance carbon capture project in Alberta’s oil sands.
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
The shift in the US policy away from emissions reduction won’t be permanent, Hodgson said, but the sudden shift from the Biden administration’s policies, including the Inflation Reduction Act that promoted renewable energy projects, is damaging.
Article content
The Pathways project “buys incredible social license with all Canadians, but it really buys social license with people who want to buy energy around the world; whether it’s people in India, fastest growing user of energy in the world; whether it’s China, the biggest user of energy in the world; whether it’s Europe who’s desperately trying to diversify its resources,” he said.
Article content
Six of Canada’s largest oil sands producers are part of the Pathways project, which would take carbon produced from the oil sands and store it underground in northern Alberta.
Article content
The Canadian and Alberta governments are working hard to meet an April target to finalize details on a carbon capture plan and an increased industrial carbon price, but Hodgson signaled talks could go longer if needed.
Article content
“If something slips, look how the other side behaves,” he said. “If the other side says, you know what, we’re working in good faith, we’re committed to this, we’re going to get this done. And I think that’s the spirit we’re in right now.”
Article content
English (US)