Pace of oilsands decarbonization an open question after UCP win in Alberta
BNN Bloomberg
In the aftermath of Alberta's election, the province's oil and gas sector is facing a big unknown around the question of government support for decarbonization.
Dennis McConaghy, a former executive vice-president at TransCanada Corp., now TC Energy, says it's not clear whether Danielle Smith's UCP government will be willing to supplement already-announced federal financial support for carbon capture and storage technology in Alberta's oilsands.
For example, the Pathways Alliance, a consortium of oilsands companies, has proposed spending $16.5 billion on a massive carbon capture and storage network to help it reach Canada's goal of achieving net-zero greenhouse gas emissions by 2050.
McConaghy says he believes an NDP government would have been more inclined to provide new financial supports for that project, above and beyond the federal tax credit that has already been announced.
