'Expensive, Unproven' CCS Deserves No More Federal Support: IISD
By betting it can solve its emissions problem with carbon capture and storage, Canada’s oil and gas industry risks saddling itself with expensive stranded assets, a new report argues.
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New Report Highlights Economic and Environmental Costs of Canada’s LNG Expansion
New report explains how LNG expansion will not only hamper Canada’s progress toward its climate goals but also create challenges for the economy in the long term.
Canada’s Fossil Fuel Subsidy Framework Is a Big Step Forward, but Gaps Must Be Closed to Align With Climate Commitments
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Canada to Cut Oil & Gas Subsidies
The Canadian federal government has implemented a framework to revoke subsidies for fossil fuels that are deemed inefficient. However, the framework lacks details on the specific subsidies to be eliminated and does not provide a dollar amount for the cuts. Canada, as the fourth-largest oil producer in the world, is the first country to comply with a 2009 pledge made by the Group of Twenty (G20) nations. The government plans to exempt oil and gas projects that have plans to reduce emissions and utilize carbon capture and storage (CCS) technology. Federal Environment Minister Steven Guilbeault stated that the objective is for federal support to be directed only towards projects that decarbonize the sector and result in significant greenhouse gas emissions reductions.