The provincial government of Alberta, Canada announced that it would put CAD$4 billion into two funds aimed at reducing greenhouse gas (GHG) emissions.
The funds will be split equally between a fund to advance carbon capture and storage (CCS) projects and a second fund to encourage energy-saving public transit.
The province has been under heavy pressure for its tar sands projects, which many environmentalists believe are the most environmentally destructive projects on earth. These tar sands, which are extremely difficult and energy intensive to tap, contain the largest supply of oil outside the middle east. The carbon dioxide emissions associated with removing and using this oil supply will greatly increase global greenhouse gas levels.
Alberta’s government is setting aside some of the tremendous royalties resulting from the skyrocketing price of crude oil to create these two funds.
Funds will be allocated to encourage construction of Alberta’s first large-scale CCS projects. The government says such projects have the potential to reduce emissions at coal-fired electricity plants and oil sands extraction sites by up to five million tons annually. However, many experts believe that CCS offers false hope in addressing climate change.
The CAD$2 billion Green Transit Incentives Program (Green TRIP) will promote the use of local, regional and inter-city public transit. The program will support new public transit alternatives throughout the province that will significantly reduce the number of vehicles on Alberta roads and reduce GHG emissions.
Alberta’s Climate Change Action Plan aims to cut projected GHG emissions in half by 2050–not current emissions or 1990-level emissions. This plan, which falls far short of the 80% below 1990-level emissions recommended by climate scientists, is based on three key areas: carbon capture and storage; energy conservation and efficiency; and greening energy production.
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