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Statement on 2023 Federal Budget

March 28, 2023

CALGARY – March 28, 2023
Kendall Dilling, President of the Pathways Alliance issued the following
statement in response to the federal budget:

“The Pathways Alliance is encouraged Budget 2023 signals that more policy certainty is coming
to support and incentivize needed investment in clean technologies, including carbon capture,
utilization and storage (CCUS) projects, that are critical to meeting Canada’s emissions
reduction goals.

“We are pleased to see new details and a clearer legislative timeline for the previously
announced Investment Tax Credit (ITC) for CCUS, including the eligibility of dual use equipment
for the CCUS ITC.

“The Government of Canada has ambitious goals to reduce emissions from the oil and gas
sector, but to meet these goals, there needs to be sufficient co-investment from federal and
provincial governments along with industry.

“We look forward to further implementation details on the Canada Growth Fund and a better
understanding of the government’s intentions for carbon contracts for difference.
“As an industry that employs hundreds of thousands of Canadians and generates billions of
dollars in revenues for governments to help support health care, education and other social
programs, we have been working together with government on an ambitious plan to achieve
significant absolute emissions reductions from our operations before 2030, and a goal of net
zero emissions from operations by 2050, while maintaining our role as a major contributor to
Canada’s economy.

“We need to continue to work together constructively to ensure Canada has the right policy
levers in place to incent investment in clean technologies like CCUS. Clean technology
investments support Canada’s responsibly produced oil and gas, generating jobs and investment
in Canada while also meeting the world’s energy security and affordability needs in a net zero

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