'We could get lapped here by the Americans': Enbridge exec urges Ottawa to respond to U.S. climate package — via financialpost Renewables Oil Gas Energy
“We could get lapped here by the Americans,” Colin Gruending, an executive vice-president at Enbridge Inc., said at the Energy Disruptors conference in Calgary this week. “Let’s get started. Otherwise we’ll have not much done by 2030.”By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc.
Calgary-based Enbridge’s pipeline business dwarfs what it’s doing in renewables. Still, Enbridge is so big that its green operations still rank among the largest in Canada, so its views carry weight in Ottawa and elsewhere. Enbridge has said previously that it will invest increasing proportions of its capital in natural gas and renewable energy projects as part of its approach to the energy transition.
Canada was strong out of the gate with its implementation of carbon pricing and an investment tax credit for carbon, capture, utilization and storage , Gruending said. However, Prime Minister Justin Trudeau’s government must respond to the IRA or risk losing investment that could help Canada meet its own climate goals.
Canadian energy companies are also waiting for Ottawa to roll out an investment tax credit for the adoption of clean technology, including net-zero technologies, battery storage solutions and clean hydrogen — something that the Liberal government promised in the April budget but has yet to deliver. Gruending and Tourmaline Oil Corp. CEO Mike Rose both rebutted Trudeau’s recent skeptical remarks about the business case for exporting liquified natural gas to Europe.that Russia’s invasion of Ukraine had revived the case for previously dormant gas projects on Canada’s East Coast.
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'We could get lapped here by the Americans': Enbridge exec urges Ottawa to respond to U.S. climate package\u0027We could get lapped here by the Americans,\u0027 says Enbridge Inc. executive vice\u002Dpresident Colin Gruending. Read on.
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