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Alberta oil industry gets eco-trust green bucks PDF Print E-mail
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Prime Minister Stephen Harper has dipped into his Conservative government’s new eco fund for the second time in three days, announcing $155.9 million to help Alberta on the climate change front. Harper joined Alberta Premier Ed Stelmach in Edmonton on Thursday to announce funding from the new Canada ecoTrust for Clean Air and Climate Change, which will be included in the March 19 federal budget.

Both men were careful to reassure industry that the initiative to look for ways to reduce emissions could be done without harming the bottom line. The dedication of most of the money to a special task force will reassure the oil industry that new technology will not harm business. The remainder will also support a project in Edmonton designed to convert municipal waste into electricity and efforts to design a coal-fired electricity plant that releases almost no emissions will also be funded.

Harper announced that Steven Snyder, chief executive of TransAlta Corp., a Calgary-based power company that operates coal-fired plants in Alberta and elsewhere will head a new task force funded by the Canadian government and the province of Alberta. The aim of the task force is to study ways to capture and store greenhouse gases emitted by the province’s massive oil sands projects and a report is expected by November.

Alberta’s oil sands projects are considered one of the country’s largest sources of carbon dioxide emissions, and production from the region is expected to triple over the next decade.

The Alberta government introduced a bill on Thursday that would force large scale carbon dioxide emitters to cut their emissions intensity — the amount of the gas created per barrel of output — by 12 percent beginning this year.

The task force will look at methods of capturing carbon dioxide emitted by the oil sands and other big industries, then pumping it underground into aging oil fields, where it can help increase output.

Harper claimed the group will look at the “economic, technical and regulatory hurdles that lie in the road of large-scale implementation of carbon capture and storage.”

Reported: Canada to study greenhouse gas capture, PM pledges $156M in green funding for Alberta, Ottawa spends $155.9M to help Alberta oil industry go green


Read more at: http://timethief.wordpress.com/2007/03/08/alberta-oil-industry-gets-eco-trust-green-bucks/.
 
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