The Canadian Press/Jason Franson
News

Oil-sands companies hunting for more federal carbon-capture aid despite major tax credit

CALGARY — Heavy polluters received a major financial boost last April when the federal government introduced a new carbon-capture tax credit, which will allow companies to write off at least 50 per cent of the cost to build new sequestration facilities. The highly-anticipated program is expected to cost $7.1 billion between now and 2030. 

But oil-sands companies, for their part, are calling for more. The industry has been in negotiations with government officials for a range of additional supports that they argue will make their carbon-capture projects viable, from direct funding arrangements to market controls that would guarantee the price polluters receive when selling their carbon offsets.

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