Canada’s carbon capture and storage efforts are grossly inadequate. Not only will these projects do little to reduce Canada’s GHG emissions, but 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Globe and Mail, the three biggest companies involved in the project aimed at reducing Alberta’s carbon footprint have withdrawn.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), canceled 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 planned 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 greenhouse 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.
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