As the urban centre at the heart of Canada’s oilsands industry, Fort McMurray has seen more than its share of ups and downs. A decade and a half ago, the northern Alberta community was this country’s most famous boom town. High oil prices helped to drive unprecedented demand for the thick, viscous bitumen that lies … Read more
Canada’s biofuel industry is welcoming a proposed multi-billion dollar package of financial support from the federal government, although concerns remain about whether it will be enough to compete with lucrative subsidies south of the border and reverse the growing dependence on U.S. imports to meet clean fuel regulations. The federal government is committing $1.27 billion toward … Read more
Fire is sucking the life out of parts of the Amazon rainforest. In Roraima State, in northern Brazil, the number of fires in February were more than five times the average, according to data from Brazil’s National Institute for Space Research, and blazes continued to burn through March. “We are losing the Amazon rainforest. These … Read more
A controversial tax credit meant to help jump-start carbon capture projects could cost $1 billion more than the federal government estimated, says the independent parliamentary budget watchdog. In several federal budgets, Finance Canada forecast that the carbon capture, utilization and storage (CCUS) investment tax credit would cost $4.6 billion between 2022-28. The Parliamentary Budget Officer … Read more
A new report by the U.S. branch of the non-profit Environmental Investigation Agency says that investment interest and government tax incentives are fuelling intense mining exploration in remote northern B.C. — raising concerns about the environmental impacts of the work and its financial implications. The report focuses on the transboundary region, which falls along the border between … Read more
