Oil companies shift carbon capture risk to Alberta taxpayers
Oil companies promoting carbon capture projects in Alberta expect the government to cover long-term liabilities, transferring financial and environmental risks to the province.
Mitch Anderson reports for DeSmog.
In short:
- Oil companies like Pathways Alliance seek government subsidies for carbon capture projects, including covering half of the $16 billion project cost.
- Documents show the companies want to avoid federal and provincial environmental assessments and have scrubbed their website amid regulatory concerns.
- Alberta will assume long-term liabilities for stored carbon, risking taxpayer funds if carbon leaks or credits reverse.
Key quote:
“You think it will be just in their best interests to be as upfront as possible about this. I don’t understand this secrecy at all.”
— Nigel Bankes, Professor Emeritus of Law at University of Calgary
Why this matters:
Transferring liability from oil companies to the public for carbon storage creates financial risks for Alberta residents. Lack of transparency in these projects undermines trust and raises concerns about the true environmental impact of carbon capture schemes.
Learn more: Carbon capture technology faces cost and scale challenges
