The United Conservatives’ Improved System Will:
The first $100 million in revenues and 50% of remaining revenues paid into the TIER Fund will be used for new and cleaner Alberta-based technologies that reduce carbon emissions even further, including new and improved oil sands extraction technology and supporting research and investment in carbon capture, utilization and storage (CCUS). The remaining TIER funds will also support:
In total, TIER will generate estimated TIER Fund revenues of $142.5 million in 2019/20 (and $630 million in total when combined with existing CCIR revenues until December 31, 2019) and $570 million in 2020/21.
The United Conservatives are committed to responsible energy development and a sensible approach to greenhouse gas reductions that will get Albertans back to work.
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Alberta needs a sensible approach to reducing greenhouse gas emissions. However, the NDP’s Carbon Competitiveness Incentive Regulation (CCIR), has become just another “cash cow” for government. According to an internal government analysis the costs associated with the CCIR are estimated to be approximately
$1.3 billion a year and are anticipated to result in “greater employment loss than estimated impacts associated with the coal phase-out.” The CCIR has also introduced significant uncertainty into the marketplace, which has hurt Alberta’s economy.
In 2007, Alberta became the first jurisdiction in North America to bring in a form of carbon pricing for emitters, and the United Conservatives believe that restoring an updated version of this model will produce better results than the CCIR introduced by the NDP. We can reassure investors while generating real emissions reductions by implementing an improved system for larger emitters.