Carbon Trading = C-Lock:Carbon Trading Strenght A Positive for C-Lock:
CLIMATE: Top carbon offsets marketer strengthens foothold in Canada (02/14/2008)
Michael Burnham, Greenwire senior reporter
Blue Source LLC, which boasts North America's largest portfolio of greenhouse-gas offsets, said yesterday it has acquired an Alberta-based offsets marketer to gain a greater foothold in the burgeoning Canadian carbon-trading market.
The deal between Salt Lake City-based Blue Source and Alberta-based Baseline Emissions Management Inc. creates Blue Source Canada, which will both create and market emissions-reduction projects for North American consumers. The new company's initial portfolio will include Canada-based carbon capture-and-sequestration, landfill methane, biomass energy and no-till agriculture projects, Blue Source's President and co-founder Greg Spencer told Greenwire.
Alberta -- the continent's first regulated carbon compliance market -- presents an especially attractive market, Spencer said. The western province is aiming to bring its carbon emissions to 14 percent below 2005 levels by 2050.
"There's clearly an excess of demand over supply, so there's plenty of opportunity up there," Spencer added.
Projects that capture carbon and inject the gas into oil fields will emerge as a workhorse technology in Alberta, Canadian lawmakers contend, as the province aims to triple its oil output until around 2020, when emissions cuts begin to take hold (Greenwire, Jan. 25).
Canada has historically been a strong market for Blue Source, as the country's offsets portfolio measures in excess of 200 million tons of carbon, Spencer said. The acquisition of Baseline, he explained, gives Blue Source a stronger technical and marketing presence north of the border.
"We look forward to developing Blue Source Canada into a nationwide resource of emission reduction solutions," Spencer added.