Captured by another ‘green’ deal – by Terence Corcoran (Financial Post – March 10, 2021)

https://financialpost.com/

Missing the Texas market lesson demonstrating wind power’s weakness

The great new energy fantasies, the green new deals, the calls for massive multitrillion-dollar spending on wind and solar and hydro power and EVs, the plans to end the fossil fuel industry, the looming national and global summits to save the planet from climate change — on top of all this comes a new high-profile battle front in the Canadian war on carbon.

Carbon capture utilization and storage, commonly referred to as CCUS, is now the official focus of bureaucrats and industry executives following announcements from Ottawa and Alberta of a new joint working group.

The objective is to create the technology that will allow Alberta to literally capture and bury 30 megatonnes of carbon emissions by 2030.

The project would cost $30 billion over the next decade, they say. Expensive, but Alberta has a plan to pay for it. “We want the federal government to step up” by providing a few billion a year in direct funding or tax credits, said Alberta Energy Minister Sonya Savage.

Good luck with that, I would think, since it seems unlikely a country looking at an escalating trillion dollars in debt can afford to send trainloads of cash from national taxpayers, money that will essentially be buried in the ground near oilsands plants in Alberta.

For the rest of this article: https://financialpost.com/opinion/terence-corcoran-captured-by-another-green-deal

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