Such sales would not have been illegal, but amounted to a “hidden subsidy” within the program which undercut the effectiveness of industrial carbon pricing, says Keith Stewart, senior energy strategist at Greenpeace and the author of the report.
In response to the report, Shell Canada spokesperson Stephen Doolan said carbon capture technology is critical to achieving international climate targets.
Pierre-Olivier Pineau, a professor and researcher in energy policy at HEC Montreal, said the Greenpeace report illustrates “a key underlying problem” for carbon capture and storage, that “the economic environment isn’t yet there to make them sound business.”
Without a sufficiently high price, Pineau says CCUS projects will be cancelled because “they are not as profitable as dumping CO2 straight in the atmosphere” — unless, as in the case of Shell, they are heavily subsidized, he said.
The Pathways Alliance, a consortium of Canada’s largest oilsands companies, is still trying to move ahead with a $16.5-billion carbon capture pipeline project, but is seeking about two-thirds of that amount to be covered by subsidies.
A spokesperson for Natural Resources Minister Jonathan Wilkinson said “the oil and gas sector needs to move forward on achieving reductions in absolute emissions.”
The original article contains 939 words, the summary contains 191 words. Saved 80%. I’m a bot and I’m open source!
This is the best summary I could come up with:
Such sales would not have been illegal, but amounted to a “hidden subsidy” within the program which undercut the effectiveness of industrial carbon pricing, says Keith Stewart, senior energy strategist at Greenpeace and the author of the report.
In response to the report, Shell Canada spokesperson Stephen Doolan said carbon capture technology is critical to achieving international climate targets.
Pierre-Olivier Pineau, a professor and researcher in energy policy at HEC Montreal, said the Greenpeace report illustrates “a key underlying problem” for carbon capture and storage, that “the economic environment isn’t yet there to make them sound business.”
Without a sufficiently high price, Pineau says CCUS projects will be cancelled because “they are not as profitable as dumping CO2 straight in the atmosphere” — unless, as in the case of Shell, they are heavily subsidized, he said.
The Pathways Alliance, a consortium of Canada’s largest oilsands companies, is still trying to move ahead with a $16.5-billion carbon capture pipeline project, but is seeking about two-thirds of that amount to be covered by subsidies.
A spokesperson for Natural Resources Minister Jonathan Wilkinson said “the oil and gas sector needs to move forward on achieving reductions in absolute emissions.”
The original article contains 939 words, the summary contains 191 words. Saved 80%. I’m a bot and I’m open source!