Canada prepares carbon capture credit, the emissions plan – TittlePress

The federal government is likely to include the tax credit in the next budget and detail its goal of reducing emissions from 40% to 45% below 2005 levels by March, said Jonathan Wilkinson, Canadian Minister of Natural Resources.

Tar sands companies said zeroing carbon emissions from their operations could cost C $ 75 billion , mostly for carbon capture projects, which could require up to two-thirds of the capital provided.

The tax incentive would be like that offered in the United States, Wilkinson said.

The tar sands industry has already adopted a 100 megatonnes cap on emissions that is well above current levels, but the federal government limit would be lower, closer to current emissions, and lowered over time, he said.

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