By Canadian Press

Feds defend carbon capture technology, urge other parties to pass tax credit

May 8, 2024 | 11:49 AM

OTTAWA — Energy Minister Jonathan Wilkinson says carbon capture technology is not too expensive or ineffective.

Wilkinson is defending carbon sequestration systems after a high-profile project in Alberta was abandoned over its price tag.

Capital Power, an Edmonton-based electricity company, pulled the plug last week on plans to build a $2.4 billion carbon capture system at its Genesee generating station, saying the economics didn’t work.

Greenpeace Canada also published a report this week showing Shell Canada got special financing help after telling the Alberta government it couldn’t make a carbon capture project viable even with subsidies covering 60 per cent of costs.

Wilkinson says the technology is getting better and cheaper all the time and carbon pricing also makes the cost of carbon capture make sense.

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He and Finance Minister Chrystia Freeland both say opposition parties need to help the government pass legislation to get the long-promised carbon capture credit in place to give companies certainty.

This report by The Canadian Press was first published May 8, 2024.

The Canadian Press