29 October 2009 19:41 [Source: ICIS news]
TORONTO (ICIS news)--Canada can meet its greenhouse gas (GHG) reduction target, but at a huge cost to the oil and gas industry in the Alberta province, researchers said in a high-profile study released on Thursday.
The joint study – by the Pembina energy institute and the David Suzuki environmental foundation, with sponsorship from ?xml:namespace>
To achieve the government's target,
The Canadian carbon price would need to start at at least Canadian dollars (C$) 40/tonne ($37/tonne, €25/tonne) in 2010, rising to C$100/tonne by 2020 - much higher than the $16-32/tonne by 2020 expected under the US Waxman-Markey climate bill, it said.
The study called for broad reductions of emissions from the oil and gas industry and from landfills, as well as for capture and storage of carbon dioxide from the oil and gas industry and power plants.
Also necessary would be stringent energy efficiency measures throughout the economy, in particular tough fuel-economy standards for cars, it said.
At the same time,
Canadian commentators called the study an attack on the oil and gas industry in western
The influential Globe and Mail newspaper even warned that implementing the proposed policies risked splitting the country, raising the spectre of
Observers also noted that former Liberal party leader Stephane Dion, who strongly advocated a carbon tax, lost a federal election in late 2008 over the issue against the Conservatives under Prime Minister Stephen Harper.Even though Canada signed up to the Kyoto protocol, it has come under mounting international criticism over rising emissions from
Still, last week two of
Also, the government recently committed to helping fund carbon capture and storage (CCS) projects in
($1= €0.68; $1 = C$1.07)
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