Implement ITCs
If the Carney government is serious about their promise to make Canada an energy super power, then they must expand the Carbon capture, utilization and storage Investment Tax Credit to include Enhanced Oil Recovery to allow both increased production and carbon capture. This is the only way these projects can be self sustaining.
Since Biden's Inflation Reduction Act, Canadians have seen nothing from the Liberals to compete with the U.S., except delays and failure. The U.S. has already changed administrations multiple times, while Canada has had the same Liberal cabinet, with the same ministers, and the same anti-energy agenda that has blocked Canadian energy development for a decade. The Liberals promised to respond, but still haven’t delivered competitive investment tools to match the Americans.
The reality is, Canada must double electricity capacity just to meet growing demand. That must include real ITC reforms, including implementing Clean Electricity ITCs to ease the burdens on project developers and secure Canadian energy independence.