Fossil fuel proponents are becoming more concerned about the path forward for the industry. This year we have seen a barrage of insurance companies and international investors pulling their support out of Alberta fossil fuel projects. Although the federal and some provincial provinces claim they want to reduce emissions, only a small fraction of the amount that gets allotted to fossil fuels gets spent on renewable energies. Canada subsidized the fossil fuel industry to the tune of almost $60 billion in 2015.
The federal government is also offering support to the renewable industry as well.
- August 23, 2019: The Government of Canada announced $25.4 million in support for the Terrapin and Greenview Alberta No. 1 Geothermal project in Alberta, through the Emerging Renewable Power Program
- January 24, 2019: The Government of Canada announced $15.3 million in support for the Suffield bi-facial solar project in Alberta, through the Emerging Renewable Power Program
- January 11, 2019: The Government of Canada announced $25.6 million in support for the DEEP Earth Energy Production geothermal project in Saskatchewan, through the Emerging Renewable Power Program
- September 20, 2018: The Government of Canada announced $29.8 million in support for the Halagonia Tidal Energy Ltd. project in Nova Scotia, through the Emerging Renewable Power Program.
Since Covid19 the government was warned that the clean-tech industry was in trouble. They received little help, but G20 countries poured 16 billion into helping fossil fuel producers.
In a report Paul Morris , director for In Situ Strategic Technology at Suncor Energy, said global sentiment about the hydrocarbon industry is negative and this issue needs to be addressed. Canadian sentiment is the same, he added. It seems companies are realizing time is running out if they ever hope to be at net-zero carbon emissions and they fear the technology to produce this doesn’t even exist yet. With added pressure, social license for fossil fuel development is disappearing, as increasingly more people are demanding an end to the pollution.
Natural Resources published an infographic showing the health care costs in Canada resulting from exposure to air pollution. It claims the cost could reach 250 billion by 2031.
There’s need for increased investment in technology development in Alberta and the government needs to be prepared to take the risk, funding these developments. From all the bluff and blunder from Alberta premier Jason Kenney, one would think it isn’t likely to happen but sometime during the week of July 22, his government is providing $58 million through ERA to support this as an opportunity to create jobs in the natural gas sector. Here is an example of projects this money will fund.
MultiSensor Canada Inc.
Methane Imaging Solution for Continuous Leak Detection and Quantification for Tank Emissions and Facility Monitoring
Total project value: 3,200,000 | ERA commitment: 1,600,000
Permanent installation and demonstration of an infrared cameras at 100 well sites to provide continuous leak detection and quantification for tank emissions and facility monitoring.
Qube Technologies
Emissions Reductions Through Artificial Intelligence
Total project value: 16,200,000 | ERA commitment: 4,000,000
Deployment of an industrial device designed to collect large quantities of data to use artificial intelligence and machine learning techniques to better quantify, locate, and classify emissions.
University of Calgary:
Field-Scale Deployment and Acceleration of Made-In-Alberta Technology for Fugitive Emissions Detection and Reduction
Total project value: 3,200,000 | ERA commitment: 1,600,000
Full-scale, field pilot of a new vehicle-based technology designed for equipment-level emissions screening to support effective regulatory leak detection and repair.
A full list of the projects can be found here.
The demand for oil & gas has really taken a beating since around the time Coviod19 started. It can’t all be blamed on the pandemic though. The Russia–Saudi Arabia oil price war started just before we were partially immobilized, and it had already started dragging the prices lower.
Although what could be considered being true to character, Mr. Kenney is still propping up a dying industry with the promise of jobs. It almost seems like he might have turned over a green new leaf.
Businesses and governments are realizing a change is coming. They’ll have to change or risk being put out of business. Governments too. Lip service only goes so far.
