Billions Needed For Carbon Capture

Fort McMurray Today

The federal and Alberta governments may have to invest between $1 billion and $3 billion per year after 2015 to turn the business carbon capture and storage into a viable commercial technology, according to a report tabled Friday.

The head of the Alberta Carbon Capture and Storage Development Council says not only is the technology still viable, albeit pricey, but has the potential to eventually become a money-maker for the province.

The report, which also cautioned carbon-capture is not a silver bullet for controlling emissions, also noted that consumers could see a rise in energy prices to pay for “a large share of the burden” for the environmental technology.

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