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Carbon capture tax credit could cost taxpayers $1B more than expected, PBO warns

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Carbon capture tax credit could cost taxpayers B more than expected, PBO warns

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

Von der Leyen faces rebellion as her party seethes over 2040 climate goal – POLITICO

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Von der Leyen faces rebellion as her party seethes over 2040 climate goal – POLITICO

They fumed as to why the EU executive was issuing the target now, of all moments, with anti-green rage simmering, the far right pouncing, the EU election looming, and farmers blockading the front gates of the legislature. “Everyone was shooting at the 2040 target,” said one EPP official who, like others, was granted anonymity to … Read more

Why Greta Thunberg is up in a London court – POLITICO

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Why Greta Thunberg is up in a London court – POLITICO

Protesters attempted to block the entrance to the meeting at London’s InterContinental Park Lane Hotel. Thunberg warned that “the world is drowning in fossil fuels” before being escorted away from the event by police. She told journalists before her arrest that “spineless politicians” were gathering at the meeting with fossil fuel lobbyists, according to a … Read more

This robotic, solar-powered plane might be NASA’s new way to explore Mars

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This robotic, solar-powered plane might be NASA’s new way to explore Mars

Last week, the Ingenuity Mars helicopter made its final flight, far exceeding the expectations of a mission that began nearly three years ago. Now, NASA may be looking at a fixed-wing aircraft to hit the red planet’s skies next. In 2021 the Perseverance rover landed on Mars carrying a small helicopter under its belly named … Read more

As Meloni embraces Africa, Europe holds its breath – POLITICO

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As Meloni embraces Africa, Europe holds its breath – POLITICO

Heavy lifting ahead For her plan to work and to attract the necessary firepower, expertise and resources, Meloni needs buy-in from the EU. European Commission President Ursula Von der Leyen, who could find herself in need of Meloni’s support after the June EU election to secure a second term, has confirmed she will attend the … Read more

Russia fuel export terminal halts operations after suspected Kyiv drone attack – POLITICO

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Russia fuel export terminal halts operations after suspected Kyiv drone attack – POLITICO

A huge Russian fuel export terminal near St. Petersburg was forced to suspend operations on Sunday after a suspected attack by Ukrainian drones, according to media reports. Russian energy company Novatek suspended operations at the giant Ust-Luga Baltic Sea fuel export terminal due to a fire purportedly started by a drone attack, multiple media outlets … Read more

Could Red Sea attacks reignite supply chain chaos?

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Could Red Sea attacks reignite supply chain chaos?

Shipping traffic through the Red Sea has plummeted as Houthi militants step up their attacks on vessels in the region. American-led airstrikes have done little to deter the disruption and now the CEO of one of the biggest shipping companies in the world says the disruption will probably last at least a few months. “So for us, … Read more

Oil and gas sector CEO compensation jumps double-digits amid surging profits

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Oil and gas sector CEO compensation jumps double-digits amid surging profits

CEO pay in the oil and gas sector has soared with the industry’s post-pandemic resurgence and will likely increase even more with the completion of the Trans Mountain pipeline expansion this year, a new report projects. The report released Wednesday by the Bedford Consulting Group looked at C-Suite salaries, bonuses and other forms of executive … Read more

Why scientists say Canada’s logging industry produces far more emissions than tallied

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Why scientists say Canada’s logging industry produces far more emissions than tallied

Canada’s forestry sector is responsible for far more greenhouse gas emissions than show up in official tallies, potentially leading to policies that aren’t in line with the country’s climate goals, a new study suggests. The peer-reviewed study, published in the academic journal Frontiers in Forests and Global Change, found that annual greenhouse gas emissions attributable … Read more

Middle East braces for chaos as Iran and West square up – POLITICO

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Middle East braces for chaos as Iran and West square up – POLITICO

Press play to listen to this article Voiced by artificial intelligence. Western warplanes and guided missiles roared through the skies over Yemen in the early hours of Friday in a dramatic response to the worsening crisis engulfing the region, where the U.S. and its allies are facing a direct confrontation with Iranian-backed militants. The strikes … Read more