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Carney announces creation of Canada's first sovereign wealth fund (www.cbc.ca)

submitted 4 days ago by RickyWars@lemmy.ca to c/canada@lemmy.ca

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Fund will be used to finance construction of major projects of national interest

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[-] ValueSubtracted@startrek.website 37 points 4 days ago* (last edited 4 days ago)

These are the projects that have been officially acknowledged so far, per the CBC:

The Sisson Mine, for critical minerals, in New Brunswick.

The Crawford Nickel project in Ontario.

The Ksi Lisims liquefied natural gas project in British Columbia.

An Iqaluit hydro project.

The Nouveau Monde Graphite Phase 2 project in Quebec.

The Northwest Critical Conservation Corridor in northwest B.C. and Yukon., which could include critical minerals and clean power transmission developments in the area.

The North Coast Transmission Line in northwest B.C.

Certainly all industrial infrastructure, but not necessarily for fossil fuels.

[-] cecilkorik@piefed.ca 12 points 4 days ago

The Ksi Lisims liquefied natural gas project in British Columbia.

That one is, but there are also issues of geopolitics and strategic economics involved. I think the key rebuttal is whether it is "narrowly defined as fossil fuel infrastructure" which we can clearly see it is not, nor should it be. I don't think it can realistically exclude fossil fuel infrastructure given how much of it underpins our economy and position in the world at this particular moment in history, but I will certainly be happy to see a lot these non-fossil-fuel infrastructure projects get built.

[-] wraekscadu@vargar.org 3 points 4 days ago

Yeah, and the LNG terminal expansion isn't really that bad for the environment either. Developing countries still have a few decades to switch to complete renewables.

Natural gas is the most environmentally friendly non renewable energy source out there. I mean it does emit CO2 (which is bad ofc, but it emits around 50%), but that's all it emits. The other ones are even worse. That's why Europe switched to natural gas as an intermediary source of energy (especially for backup power, when solar can't generate anything). It's highly likely that Asia would want to do the same.

Someone has to supply this. That "someone" is us. The LNG terminal expansion helps us do this.

[-] foggenbooty@lemmy.world 13 points 4 days ago

The issue with LNG is that the environmental math doesn't account for all the natural gas that escapes into the air before it's burned.

I know a video of this length is a hard ask, but it's very well done and I think worth your time: https://youtu.be/K2oL4SFwkkw

[-] wraekscadu@vargar.org 1 points 3 days ago

Oooh thank you so much for linking it! Was quite an interesting watch.

Here's a resource from the Canadian government in regards to this. Basically, the government says it has improved regulations to reduce methane emissions and that it is taking actions to enforce these regulations better (through improved methane emissions detection) and is cooperating with international partners (which includes the EU) for the same.

Unfortunately, I'm not an expert on this and would love an opinion piece from a climate researcher who doesn't have a conflict of interest. However, to my untrained eye, it looks like the "good bridge fuel" isn't totally a con (at least for Canadian gas?).