Federal carbon plan unveiled
Alberta’s oilsands projects have been targeted in new federal rules aimed at slashing greenhouse gas emissions.
All future oilsands projects and power plants will need to store their emissions underground by 2012 while existing sites will have to reduce emissions by using cleaner fuels, Federal Environment Minister John Baird announced yesterday.
Industry leaders gathered in Edmonton at an international oilsands conference yesterday expressed concerns over Ottawa mandating them to use carbon-capture technology.
"The price of oil is created in a marketplace and if others don’t have the cost that we do, then that just shrinks our margin," said Charlie Fischer, president of Nexen, a co-owner of one of Alberta’s largest oilsands projects. "For us, we would always rather see these things done in a more global way."
Premier Ed Stelmach welcomed the new federal carbon capture plan, but warned against Ottawa’s support of a national carbon credit trading system. Stelmach says he will work with federal officials but he won’t hesitate to take a stand if the interests of Alberta are threatened.
"My job, my responsibility is to stand up for Albertans and I will," he said. "We’ll do our part, but we’re going to make sure every other province is doing their part as well."