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CALGARY — The federal government says it will provide $100 million from its strategic innovation fund over four years to accelerate the development and use of technologies to lower the oil and gas industry’s environmental impact.

Innovation, Science and Economic Development Canada says the money will be provided to the Clean Resource Innovation Network, a 1,700−member consortium of companies, not−for−profit organizations, government departments and agencies, researchers, academic institutions and economic development agencies.

It says CRIN will aim to use the investment to support research projects to reduce the sector’s greenhouse gas emissions by 100 megatons by 2033, the equivalent of taking 1.5 million cars off the road.

CRIN is to call for project applications in seven areas for activities related to ecosystem growth, enhancement and long−term sustainability.

At least half of the funding is to go to small and medium−sized businesses.

CRIN president Joy Romero, who is also the vice−president of technology and innovation for oilsands producer Canadian Natural Resources Ltd., says the funding is recognition of the innovation taking place in the energy sector.

"The federal government’s support will advance the development of clean technology, and CRIN will be an important network to help enable the transformation to a low−carbon energy future for the long term," she said.

"This is about reducing our greenhouse gas footprint and developing technologies that can be transferable to other sectors in Canada and other producers globally."

This report by The Canadian Press was first published Oct. 22, 2020

Companies in this story: (TSX:CNQ)

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Another day, another subsidy for the oil & gas industry.
More of our hard-earned tax dollars down the drain.
So much for the polluter-pay principle.

Polluter-pay? Are you kidding? Not in the True North, Strong and Free.
Where government stands on guard for fossil fuel industries.
Looting the public treasury before the oil barons leave town.

The list of fossil-fuel subsidies in AB and Canada is decades long and billions of dollars wide. Federal and provincial govts have thrown billions of dollars in subsidies at the fossil fuel industry.
Every tailpipe and smokestack is an invisible subsidy.
The giveaway party that never ends.

What a sad, appalling waste of our money. That $100 million could be going towards wind farms and solar panels--technology that's long-established, actually works, and really will lower emissions. This speaks volumes about how captured by oil corporations our government is.

Those bastards. And how much did they commit to actually putting clean alternatives in place? (crickets)