The six projects feature some of the biggest names in oil and gas: Enbridge Inc.; Wolf Midstream’s Wolf Carbon Solutions; Bison Low Carbon Ventures Inc.; Enhance Energy Inc.; and joint ventures from TC Energy Corp.
CCUS involves capturing emissions from industrial processes such as oil and gas production, and recycling them or transporting them via pipelines to underground sequestration sites.
“Some of the pushback is that any investment that you make will perpetuate the use of fossil fuels beyond where they would have been if you hadn’t put that investment in,” Bergerson said.
According to Dale Beugin, vice-president at the Canadian Climate Institute, the federal government could boost investment in carbon capture or renewable projects by allowing the Canada Infrastructure Bank to offer loans or contracts guaranteeing a fixed carbon price to project proponents and investors.
“These projects take many, many years to be able to develop, build and run.
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