Jim Prentice says to wind down carbon capture fund in Alberta, new projects ‘on hold’

From: Financial Post

CALGARY – The day after Saskatchewan fired up the world’s first commercial-scale carbon capture and storage (CCS) project, Alberta’s new premier said he aims to wind down funding for such projects in his province.

On Friday, Alberta Premier Jim Prentice said the province “has done more than its fair share at this point in terms of very significant public investments in CCS.” To date, the provincial government has committed $1.3-billion to two projects that capture carbon dioxide from industrial operations and store it underground.

***

“This is a very sizeable investment of taxpayers’ money and prudence dictates that we should ensure that we begin to see some commercial viability to these investments.”

Read Complete Article

Leave a Reply