Energy giants lose interest in Alberta carbon capture fund
Last Updated: Thursday, April 2, 2009 | 6:33 PM MT
The Canadian Press
Some of the biggest players in Alberta's oilsands have dropped out of the running to be part of the province's $2 billion carbon capture and storage fund.
Nine companies, including Suncor Energy, Syncrude Canada Ltd., and ConocoPhillips Canada, are no longer interested in sending the province proposals for carbon capture and storage projects. A total of 20 companies were chosen by the province in November to apply for the fund.
The companies cited high costs, according to reports.
Alberta Energy spokesman Jason Chance said there are now 11 projects vying for funding, which is to be awarded in June. They include proposals involving oilsands, coal-fired electricity plants and coal-gasification projects.
Greenpeace spokeswoman Jessica Wilson said the environmental group is not surprised by the lack of interest. She said the industry is now saying what environmentalists have been saying all along — that carbon capture and storage is both expensive and unproven.
"It is more of a government smokescreen than a silver bullet solution to the tar sands disaster," she said in a statement on Thursday.
Alberta has said it hopes to reduce its greenhouse gas emissions by 200 megatonnes by 2050.
