Canada Oil Industry Wants Government To Pay For Carbon Capture

The Canadian Association of Petroleum Producers has asked the federal government to provide 75 percent of the funding necessary for building carbon capture capabilities, Reuters has reported, citing a senior CAPP official. The association's proposal is for the funding to take the form of tax credits for the industry, which is being increasingly pressured to reduce its emissions footprint.

CAPP argued that carbon capture is more challenging—and costlier—for oil producers because the CO2 they need to capture is emitted in lower concentrations…