The Canadian province of Alberta has announced that it is willing to support carbon capture and storage (CCS) tax credits.
The announcement comes just days after the country’s Prime Minister Justin Trudeau urged Alberta’s government to allocate some of its budget surplus to incentivize the use of CCS technology.
As the main oil-producing province in Canada and thus also one of the nation’s heaviest emitters, there is certainly a need in Alberta to put a cap on the emissions of the oil and gas sector, particularly by boosting tax credits, as well.
And while Premier Danielle Smith acknowledges this need, she also pointed out that more financial support from the federal government will also be required to fund the costly scaling up of this climate solution.
Carbon capture tax credits were already unveiled by Ottawa in April last year, but the oil industry has made clear that it will need more help from the government.