For years now, the oil and gas industry has tried to push back against the well-documented suggestion its operations are subsidized by the public. But now, it seems, it’s trying a different strategy: begging for the biggest subsidies imaginable when it comes to carbon capture and storage technology. Jason Kenney, Alberta’s unofficial threatener-in-chief, clearly spelled it out at a recent press conference. But here’s the good news for Kenney and the oil and gas industry, even though they don’t see it that way: there’s already an incentive in place for Alberta’s oil and gas companies to invest in carbon capture technology. It’s called the federal carbon tax, and as it rises towards the $170-per-tonne target by the end of the decade it will make the economics on carbon capture better with each passing year.

Source: CBC News December 16, 2021 17:39 UTC