Speeches

Investments in CCS and Public Transit

Calgary, Alberta
July 8, 2008

Check Against Delivery

Good afternoon, ladies and gentlemen.

Today our government is taking a major step forward in implementing Alberta's climate change action plan.

There has been a lot of talk lately about whose targets are toughest, or whose plan is better.

While others talk, Alberta is acting…

We're implementing my vision for greening our growth, building communities, and creating opportunity for Albertans.

Our province was the first jurisdiction in North America to adopt a climate change plan backed by legislation.

We were also the first to require reporting and emissions reductions by large industry — a move that resulted in 2.6 million tonnes of real reductions.

In January, we released an action plan to cut projected greenhouse gas emissions in half by 2050…

…by focusing on science and technology — not new taxes — to harness carbon capture and storage and greener energy production.

Today, I'm pleased to announce yet another first for Alberta: an unprecedented investment by government to implement that plan.

Alberta will allocate $4 billion to reduce greenhouse gas emissions — equal to taking more than a million cars off the road.

Of this $4 billion… $2 billion will go toward projects to advance carbon capture and storage.

And $2 billion will be invested in energy-saving public transit in Alberta.

The money comes from what we expect will be a larger surplus this year than forecasted.

It's being invested for the future in a way that will help Alberta take meaningful action on climate change…

Without endangering jobs, the economy, or our ability to support public services.

Carbon Capture and Storage

The $2 billion we're investing is the largest amount dedicated to carbon capture and storage anywhere in the world.

It's a significant commitment to one of few technologies that's been identified as being able to make a substantial reduction in global greenhouse gas emissions.

For Alberta, especially, it holds great promise because we have the right geology to make it work.

Through our $2 billion investment, I hope to see three to five large-scale projects developed…

…with the potential to permanently store up to five million tonnes of CO2 per year by 2015.

That's equivalent to taking every third car in Alberta off the road.

Carbon capture and storage technology also offers enormous potential for additional value-added development…

…enhanced oil recovery …and the development of technology we can market world-wide, like our deep gas innovations…

…all creating new jobs, opportunities and energy revenues for Albertans.

This bold move further demonstrates Alberta's commitment to global leadership in environmentally responsible energy development.

That was a commitment I made in the last election, and we're making good on that promise to Albertans.

With today's announcement, we have also issued a request to industry…

…to begin identifying CCS proposals with the greatest potential of being built quickly…

…and which provide the best opportunities to significantly reduce greenhouse gas emissions.

This process will be used to determine specific details about how the funding will be allocated.

That reflects our government's commitment to the continuing work of the Alberta Carbon Capture and Storage Development Council…

…led by Jim Carter, who has joined us here today.

I'd like to thank Jim and the council for their efforts to help bring large-scale applications of this technology to our province…

…and create a clear work plan for implementing carbon capture and storage in Alberta, complete with timelines and expectations for emissions reductions.

Green TRIP

On the consumer side of emissions reductions, I'm pleased to also announce the Green Transit Incentives Program… or what we're calling "Green TRIP."

This program will improve and expand local, regional and inter-city public transit…

…and support new public transit alternatives throughout the province.

Alberta's climate change plan has always included supporting Albertans' efforts to reduce their own carbon footprints.

As Alberta's population grows, making public transit a more viable alternative is one way we're doing this.

Green TRIP funding assistance will be available to all municipalities, regional entities, non-profit organizations, and private sector groups.

It will be provided on a project-specific basis for new transit projects.

The things I'm expecting to see funded include the purchase of transit vehicles, LRT and inter-city commuter rail systems, and new park-and-ride facilities.

The aim of the program is to generate creativity and innovation…

…and to support projects that will significantly reduce the number of vehicles on the road to reduce greenhouse gas emissions.

Government will determine funding criteria in consultation with stakeholders, with details to be announced this fall.

Conclusion

I'd like to acknowledge the work of Deputy Premier Ron Stevens, who chairs the Ministerial Working Group on Energy and the Environment;

Energy Minister Mel Knight, who is promoting Alberta in London right now and couldn't be here today;

Transportation Minister Luke Ouellette; and

Environment Minister Rob Renner.

They've worked hard in their departments, and in Cabinet and Caucus, to promote this investment.

These are major initiatives, with significant funding.

But we can't wait for others to act… We won't wait for others to determine Alberta's future.

Our government recognizes that we need to take action on both sides of the emissions equation: the energy production side, and the consumer side.

That's what this investment is all about.

It's significant dollars — unprecedented in scope and scale — targeted to real, meaningful actions that will benefit Albertans now and in the future.

Energy efficiency and renewable energy will remain vital parts of Alberta's climate change strategy going forward.

As a major energy producer, our province can — and must — continue to be a leader in responding to climate change with policies that are practical and effective.

That's a challenge I know Albertans are proud to accept…

…and a promise we're eager to fulfill.

Thank you, ladies and gentlemen. I'll now open the floor to questions.