Canada could cash in on climate change battle
CALGARY --Canada could cash in on the battle for climate change should countries around the world spend the trillions of dollars the International Energy Agency contends is necessary to boost carbon capture and storage, it was predicted Tuesday.
Businesses and governments need to pony up between US$2.4-trillion and US$3.4-trillion before 2050 for carbon-capture and storage projects, the IEA said in a 46-page report. While Canada is going to have to invest billions to develop CCS techniques, that could translate into big profits down the road.
So, it's a cash cow, but only if we taxpayers supply the cash in the first place. Then the companies can cash in and make money, sounds like a good plan, for the companies. Kind of like we were promised savings with wind and solar, but quickly found out that we were lied to. Not only does it cost us more to install wind and solar, but it hits our pocket book with higher energy costs as well.
I was talking to my Mom this weekend and their gas in BC is at 1.01, ours is at 84.9, could it be the carbon tax that BC implemented? Just what is it getting them? Is their air any cleaner? No, CO2 is not a pollutant. Are they still dumping raw sewage into the ocean in Victoria? Where is that extra money going? Anyone???
Carbon capture and storage has morphed into a darling among industry players, policy wonks, and environmentalists as a key technology necessary to curb climate change. However, critics argue placing enormous amounts of hope on a technology that has not been fully proven is dangerous. Groundwater could become contaminated and the energy exerted building the infrastructure alone could temper the benefits, critics say.
Groundwater could be contaminated? With CO2? It's not a pollutant. Save the BILLIONS and improve our health care here in Alberta. Give us a public and private mix.
This carbon capture idea is just as big a scam as carbon credits. The thing is that it looks good politically. It lets people think they are being eco-friendly when we are wasting money better used to solve real problems, like handicapped people living below the poverty line.
While Canada's oil and gas industry -- the oil sands in particular -- have been slammed as a menace in the fight against climate change, coal-fired power plants are expected to host most CCS projects.
Hey Ontario, you are going to love sending even more money out west so your coal fired plants can continue to operate. I suspect your manufacturing sector will be getting huge orders to help building those carbon capture monsters, so we will all be happy, even the eco-nuts, who can not argue against this technology, because it's exactly what they have been pushing for. In the end it's a little better than a carbon market scam, because at least the money stays here in Canada and provides jobs.
The only losers, the taxpayers of course!