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January 18, 2008
Using Technology to Battle Climate Change
When we talk about helping the environment, most of us realize that all the world’s major emitters must cooperate to establish real targets and take concrete action to reduce global greenhouse gas emissions.
In the near-term, the world will continue to rely on fossil fuels for energy. As a major producer, Canada will play an increasingly important role in global energy security.
As such, we have a responsibility to find cleaner and more efficient ways to convert hydrocarbons into energy.
To this end, Canadian companies are working on a variety of strategies. One of the most exciting is carbon capture and storage, which holds great potential for major emission reductions at home and abroad.
Pilot projects are underway in western Canada where CO2 is being pumped deep underground into rock formations that have been drained of their oil and gas.
Trapping it there creates a virtuous energy cycle: Hydrocarbons are extracted, their energy is tapped, and then the emissions are put back underground permanently.
The Government of Canada and the Province of Alberta have established a Carbon Capture and Storage Task Force that will develop practical options for government and industry to work together to implement this technology on a large scale in Canada.
Canada’s government is also increasing our supply of renewable energy by investing in energy sources such as wind, biomass, low impact hydroelectricity,
geothermics, solar photovoltaics and ocean tides.
But the development of clean, alternative energy sources is not solely the responsibility of governments and taxpayers. In fact, I believe we will not succeed unless this challenge is taken up in the marketplace. Private capital and entrepreneurial creativity drive technological development.
The core principle of Canada’s approach to climate change is balance. We are balancing environmental protection with economic growth. We are balancing public and private sector involvement in clean energy technology development.
And we are promoting a balanced international approach to emissions reduction that engages all major emitters while respecting the unique characteristics of their economies.
The challenge we face is global. The solution must also be global.
Canada is committed to taking a lead role within the international community to develop realistic targets that apply to all emitters, and to the emerging technologies that will overcome the challenge of climate change.
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