Ottawa reveals conditions for allowing future fossil fuel subsidies

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The federal Liberals will also permit subsidies that align with Article 6 of the Paris Agreement, which allows countries to claim carbon credits for providing fuels capable of lowering the carbon footprint of another country.

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Federal officials say the framework will influence 129 non-tax measures, although they couldn’t say how it might affect the industry financially.

Alberta NDP Energy Critic Kathleen Ganley – Energy & Climate (Oil & Gas, Natural Gas, Minerals & Hydrogen) issued the following statement in response to today’s announcement:

“In the face of rapid and effective action to support decarbonization by the United States government through the Inflation Reduction Act, Canada needs to take clear and decisive action to compete for investment to drive carbon capture, utilization and storage along with other critical clean technology.

“Unfortunately, today’s announcement once again fails to provide the necessary investment certainty, and just adds an additional layer of confusion. We have a framework, the promise of further conversations, and little else. Albertans are tired of two levels of government not delivering for them at such a pivotal moment for our industry.

“If we truly want to take meaningful action to protect our future we need practical, achievable climate targets along with competitive incentives tied to measurable emission-reduction outcomes. Alberta’s government must also get to the table to deliver on behalf of the working people of Alberta.”

This report by The Canadian Press was first published July 24, 2023.

The Canadian Press

(With files from rdnewsNOW)