Canada’s carbon capture and storage efforts are grossly inadequate. Not only will these projects do little to reduce Canada’s GHG emissions, the three major companies involved in tar sands exploitation have pulled out of Alberta’s carbon capture efforts.
As reported in the Globe
and Mail, the three biggest companies involved in the project aimed at reducing
Alberta’s carbon footprint have withdrawn.
TransAlta Corp. (TA-T), along with partners Enbridge Inc. (ENB-T) and Capital Power Corp.
(CPX-T), cancelled their
$1.4-billion carbon capture and storage effort, opting to pay the
penalties for emissions rather than cutting them.
Even if the carbon capture and storage
were to go ahead as planed it would not make much of a difference. In 2011 the
Pembina Institute evaluated Canada’s environmental policies as input to the
Climate Change Performance Index 2012. It gave an overview of Canada’s proposed
energy policies and their impact on green house gas
reduction. The Institute pointed out that the $800 million proposed for carbon
capture and storage would reduce Canada’s emissions by only six percent.
© 2012, Richard Matthews. All rights
reserved.
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