CALGARY – November 21, 2023
“We are pleased the federal government intends to legislate the Investment Tax Credit before the end of the year and we look forward to taking the necessary time to fully review the details.
“Clear policy and legislation to support government investments in major emissions reduction projects are essential for the certainty we need to remain cost competitive with other oil-producing regions around the world.
“We look forward to ongoing discussions with the federal and provincial government on other fiscal and policy tools for large-scale projects such as ours to help de-risk the long-term investments needed to meet Canada’s climate goals while ensuring our country continues delivering the responsibly produced energy the world needs.
“We’re encouraged the government has allocated more resources for carbon contracts for
differences, and we look forward to working with the government and the Canada Growth
Fund to see how they may be implemented for carbon capture and storage projects.
“We are also pleased to see that a federal Indigenous Loan Guarantee program will be created. Indigenous ownership in Canadian oil and gas projects has benefitted significantly from similar loan guarantee programs in the provinces.
“The expansion of this type of program to the federal level is a great step towards Indigenous reconciliation and self determination. “