Bullboard - Stock Discussion Forum Canada Nickel Company Inc V.CNC

Alternate Symbol(s): CNIKF

Metals & Mining Industrial Metals & Minerals

Canada Nickel Company Inc. is a Canada-based company, which is engaged in advancing the nickel-sulfide projects to deliver nickel required to feed the electric vehicle and stainless-steel markets. The Company owns flagship Crawford Nickel-Cobalt Sulphide Project in the heart of the prolific Timmins-Cochrane mining camp. The Company also owns 25 additional nickel targets located near the... see more

Add To Watchlist

TSXV:CNC - Post Discussion

Canada Nickel Company Inc > Feds and carbon tax....

View:

Post by CravingProfits on Aug 08, 2023 9:57pm

Feds and carbon tax....

Trudeau urged to move quickly on carbon pricing backstop

Brian Platt, Bloomberg News

Now ShowingStrong stock performance of sustainable builders is a result of the U.S. Inflation Reduction Act4:43

Strong stock performance of sustainable builders is a result of t...

Up NextCanada focusing on battery plants at the expense of upstream strengths: UofT scholar7:25

Canada focusing on battery plants at the expense of upstream stre...

Canada's climate plan is competitive to the U.S.: TD economist7:00

Canada's climate plan is competitive to the U.S.: TD economist

Business and environmental groups are pushing Prime Minister Justin Trudeau’s government to quickly enact a program to guarantee carbon pricing revenue, or else lose out on the investments needed to reach Canada’s climate goals.

In a letter to Finance Minister Chrystia Freeland, they asked the government to open up access to the program — known as “contracts for difference” — as widely as possible, instead of doing individual deals with companies.

Tracking pixel

SCROLL DOWN

Carbon contracts for difference are effectively a public backstop for Canada’s carbon pricing regime. The contracts might be used to guarantee a floor price for carbon credits or to lock in the scheduled increase to the carbon price over the next decade, regardless of future government decisions.

The purpose is to give companies some long-term certainty about the economics of curbing emissions so they can make decisions involving billions of dollars in capital projects — such as installing equipment that captures greenhouse gas emissions before they escape to the atmosphere.

The letter is another sign of the pressure on the Canadian government to keep up with the U.S., its largest trading partner, which is providing lucrative tax credits for green manufacturing through the Inflation Reduction Act.

Business groups have also been pushing Trudeau and Freeland to speed up the launch of clean-energy tax credits that were promised in this year’s federal budget.

“The risk of taking too long is capital fleeing Canada,” said Etienne Rainville, director of government relations with Clean Prosperity, a group that advocates market-based climate programs and led the effort to send the letter.

The signatories range from the cement industry to fuel producers to environmental groups such as the Pembina Institute.

2030 GOALS

Given how long it takes to build these projects, the government can’t afford to drag its feet on getting the program in place, Rainville said.

“The decisions that are being made today are ultimately the ones that will be coming online just before 2030,” he said, referring to Canada’s goal of reducing emissions by 40 to 45 per cent below 2005 levels by the end of this decade.

Larger carbon capture projects, for example, need to be developed soon to achieve emissions targets, said Chris Hooper, vice president of capital markets for Entropy Inc. His firm, which signed the letter, has built a carbon capture and sequestration project at Alberta’s Glacier gas plant, but has other projects waiting on government policy for final investment decisions.

“Carbon price uncertainty is a significant barrier to the deployment of private capital,” Hooper said by email. “The federal government is best positioned to underwrite the federal policy risk associated with carbon price.”

The signatories make four recommendations: make the program as broad-based as possible, get it in place quickly, use clear eligibility criteria and ensure that a floor price for carbon credits is included.

This year’s federal budget pledged to launch consultations on designing contracts for difference, but so far there has been no update on doing so. The groups want details announced before the end of the year.

Freeland is still committed “to consulting on the development of a broad-based approach,” her office said in a statement, though it did not provide a timeline for doing so. The office has seen the letter and is “in close contact with a number of these organizations,” said spokesperson Katherine Cuplinskas.

There has been some movement on the clean-energy tax credits. On Friday, Freeland’s department circulated draft proposals for public feedback, including a long-promised tax credit for carbon capture systems. It also pledged to “soon release details” on a tax credit for hydrogen fuel production.

Trudeau is betting $12.4 billion on a plan to clean up the world’s dirtiest oilThe Hardisty terminal, a meeting point for major pipelines, in Alberta, Canada. Photographer: Jason Franson/Bloomberg

Canada bans some fossil fuel subsidies, meeting decade-old G20 pledgeA worker walks through a direct air carbon capture research facility in Squamish, British Columbia this year. Photographer: James MacDonald/Bloomberg

IMF applauds Canada's climate action, warns of 'race to the bottom' with subsidiesTulips and kayakers in Ottawa

Pipeline & Politics

The Enbridge oil refinery in Edmonton, Alberta, Canada, on Wednesday, April 5, 2023. Canadian oil producers beset by years of constrained pipeline capacity expect to garner better prices for their crude when the expanded Trans Mountain conduit starts up next year, opening them to new markets in Asia.6:26 Enbridge sees $1.8 billion profit in Q2 as Mainline pipeline settlement reached

Workers lay pipe during construction3:54 Government expected to take losses in Trans Mountain project, expert says

Construction on the Trans Mountain Pipeline expansion project at the Burnaby Terminal tank farm in British Columbia, on March 27.6:44 Canada’s pipe dream marred as overruns drive up cost of exporting oil to Asia

United States-Mexico-Canada Agreement

Ottawa urged to back U.S., not TC Energy, in $15B lawsuit over demise of Keystone XL

Pipeline parts in Wisconsin6:26 Enbridge 'must cease' Line 5 operations on Bad River land by June 2026: judge

Pipeline used to carry crude oil

Three years too long a wait for Line 5 reroute, Indigenous band in Wisconsin says

Become a member today, It's free!

Bullboard - Stock Discussion Forum Canada Nickel Company Inc V.CNC

Alternate Symbol(s): CNIKF

TSXV:CNC - Post Discussion

Feds and carbon tax....

Featured News Links

Do you want to stay ahead of the markets? See how DealRoom can help.

Become a member today, It's free!

Sign In

Send my password

Become a member today, It's free!

Bullboard - Stock Discussion Forum Canada Nickel Company Inc V.CNC

Alternate Symbol(s): CNIKF

Join the community and start posting on the bullboards today. It's free.

Create a portfolio watchlist today. It's free.

TSXV:CNC - Post Discussion

Feds and carbon tax....

Featured News Links

Do you want to stay ahead of the markets? See how DealRoom can help.