The federal and Alberta governments have signed an agreement with oil companies regarding carbon capture initiatives. Ottawa has committed to extending investment tax credits for various carbon capture equipment through 2035, while Alberta stated it will finalize its own incentive program for carbon capture.
The agreement represents a coordinated approach between the two levels of government to support carbon capture technology in the province. The extended federal tax credits provide long-term financial incentives for equipment investment, while Alberta's forthcoming program will add provincial support to encourage adoption of the technology among oil sector participants.
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