Wilson’s post appeared just a day before Finance Minister Chrystia Freeland tabled a 2022 budget that contained a long list of green economy and affordable housing measures, but drew climate hawks’ wrath with its promise of C$7.1 billion in carbon capture tax credits over an eight-year span.
“That’s because it’s faster and cheaper to scale up renewables than building more fossil fuel infrastructure,” Wilson writes.
“For all the headlines and dollars poured into CCUS, the Global Institute for Carbon Capture’s 2021 report identifies around only 31 facilities worldwide that are either operational or in construction, collectively accounting for a mere 39.7 million tonnes per annum, less than 0.1% of annual global emissions.
But our climate can’t afford for us to continue powering up with oil and gas for decades to come,” Wilson writes.