Canadian biofuels producers are threatening to build their next projects in the United States to cash in on rich subsidies for clean fuel and stay competitive, a move that could cost Canada C$10 billion ($7.5 billion) of investment and undermine Prime Minister Justin Trudeau's efforts to build a greener economy.
. But Canada's location bordering the United States makes it especially vulnerable to a possible future flood of cheaper U.S. biofuels, said Ian Thomson, president of Advanced Biofuels Canada.
The companies considering investment in the United States include Arbios Biotech, a joint venture of forestry company CanforArbios, which is building a demonstration bio-oil plant in British Columbia, will consider a U.S. location for its planned commercial plant unless Ottawa narrows the gap in financial support, said chairperson Don Roberts.
Canadian companies collecting lower subsidies may have to charge more for their fuel than U.S. producers to make similar profits, and may be outbid for feedstocks used in production, such as canola and restaurant grease, Thomson said.Biofuels companies are pressing Ottawa to increase supports in the next fiscal update, expected late this year.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
The CIA Welcomes Pride Month: 'Pay Tribute to the Rich History'The Central Intelligence Agency (CIA) celebrated LGBTQ Pride Month on its official social media page and received backlash.
Baca lebih lajut »
Woman shares ‘genius’ side hustle — organizing rich moms’ homesA TikTok star has shared how she funded her move from Brisbane to London by doing one unusual job that paid her $50 an hour.
Baca lebih lajut »
Sonic boom heard over Washington is a rare sound with a rich historyPeople living in and around the nation’s capital experienced a rare, if startling, sound: A sonic boom. The U.S. military had dispatched six fighter jets on Sunday to intercept an unresponsive business plane that was flying over restricted airspace. The Air Force gave the F-16s permission to fly faster than the speed of sound to catch up with the wayward Cessna. The result was a thunderous rumble. The U.S. government rarely gives permission to civilian aircraft to travel that fast. The last supersonic aircraft to carry passengers was the Concorde. It stopped flying in 2003. But new companies as well as NASA are working on new technology to reduce sonic booms from supersonic aircraft.
Baca lebih lajut »
Kids Author Allegedly Googled ‘Luxury Prisons for the Rich’ After Killing HubbyProsecutors have revealed the Google search history of Kouri Richins, the Utah mom who was arrested last month for allegedly killing her husband before writing a children’s book about grief.
Baca lebih lajut »
RDs Swear By These 6 Sleep-Boosting Magnesium-Rich Snacks on AmazonThese magnesium-rich snacks on Amazon include cacao nibs, almonds, and dark chocolate to prepare you for a good night's snooze.
Baca lebih lajut »
‘Milkshake’ singer Kelis on rumored beau Bill Murray: ‘Blessed, rich and happy’Kelis, 43, had previously told fans she “wouldn’t bother” to address the rumors at all, as she’s been on a luxe vacation to Greece with her sons.
Baca lebih lajut »