IRA wreaking havoc on Canadian oil and gas industry’s decarbonization plans

In Canada, the Canadian Press reports that some oil and gas players are excited about the opportunities posed by the US’s Inflation Reduction Act, with “lots of carrots being put on the table” in order to decarbonize, which is very attractive for companies operating on both sides of the border. Some complain, however, that the IRA is so attractive that it’s impossible for Canada to compete, so the investment will go south of the border instead of staying home where the incentives aren’t so good. It’s one of the reasons Parkland Corp. decided last week to not invest in a standalone renewable diesel facility in British Columbia.