Say no to federal subsidies for false climate solutions!
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- Published on Sunday, 29 November -0001 16:00
- Written by editor
Dear friend,
The federal government is hard at work on a new unicorn factory, run entirely on carbon-neutral thoughts and prayers.
Fiction? Not exactly.
A new report has revealed that the federal government plans a tax credit in the upcoming federal budget to support Big Oil investments in Carbon Capture and Storage (CCS).1 This is both a subsidy and pure fantasy. It makes every bit as much sense as investing billions of dollars in unicorns.
Say no to federal subsidies for magical thinking and false climate solutions. Take Action Analysts have long warned that CCS would be a false, ineffective, and risky ‘solution.’ Rather than moving us away from fossil fuels, it would drive up greenhouse gas emissions – allowing big polluters to stick to business as usual under the guise of ‘climate action’.2 A case in point is Shell’s CCS facility in Alberta, which is currently emitting more than it captures.3
Last week, more than 400 scientists, academics, and energy experts wrote an open letter to the federal government warning against a CCS tax credit, which they said would constitute “a substantial new fossil fuel subsidy.”4
The Trudeau government has promised to end fossil fuel subsidies by the end of 2022.5 Introducing this CCS tax credit would break that promise. The Canadian government already provides more fossil fuel subsidies than any other G7 country6, while most Canadians want these subsidies to stop.
A CCS subsidy will perpetuate fossil fuel expansion at a time when the industry must wind down if we’re to have a livable climate.
Doubling down on CCS instead of winding down extraction of fossil fuels is like trying to wield the One Ring instead of destroying it in Mount Doom. Spoiler warning: that approach doesn’t end well.
That’s why we’re asking you to take a moment to send the government a reality check about the absurd fantasy of this proposal.
Tell Minister Wilkinson that our energy future should run on renewables, not fantasy.
Instead of entertaining pipe dreams like CCS, the federal government should be focusing on what’s really needed to get us out of the crisis: a just transition. Together, we can make that a reality.
With hope and resolve,Dylan Penner
Climate and Social Justice Campaigner
The Council of Canadians
P.S. Read more of our analysis here.
References:
- Canada Readies Carbon Capture Credit, Emissions Plan
- Carbon Capture Tax Credit Likely for 2022 Budget, Wilkinson Says
- Shell’s Massive Carbon Capture Plant Is Emitting More Than It’s Capturing
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