Varcoe: After a day of fuming at feds, oilpatch receptive to new incentives for green tax credits yyc ABenergy oilpatch abpoli cdnpoli
Leaders with the Pathways Alliance welcomed some of these measures, which are intended to close the gap with new incentives offered in the U.S. Inflation Reduction Act.Article content
However, the federal announcement didn’t include a beefed-up investment tax credit for carbon capture, utilization and storage projects, something the industry and Alberta government have been pursuing as the Pathways Alliance contemplates a $16.5-billion investment in a carbon capture system.Article content
At Enbridge, the Calgary-based pipeline giant is developing renewable energy and major decarbonization projects on both sides of the border.“The tax credits for wind and solar support our business here in Canada. There are some references to financial assurance on carbon pricing, which I think is going to be very helpful to carbon capture proponents in Canada … that’s a big opportunity. You have got investment tax credits for hydrogen,” he added.
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