CANADA DETAILS FUND FOR CARBON CAPTURE, CLEAN ENERGY

clipped from www.planetaazul.com.mx The Canadian government announced details on Tuesday of the C$1 billion ($860 million) clean energy fund it promised in February, with the lion's share of the cash going to support the development of carbon capture and storage projects CALGARY, Alberta, Canada; May 20, 2009.- Natural Resources Minister Lisa Raitt said in a statement C$650 million has been earmarked to help pay for large-scale carbon capture and storage demonstration projects as the government looks to follow through on agreements made during U.S. President Barack Obama's February visit to Canada. The remaining cash will be directed to paying for smaller-scale renewable and alternative energy projects and a C$150 million fund for researching clean energy technologies. The Conservative Party government is looking to keep up with U.S. initiatives to stem climate change and to offset criticism of Canada's environmental record and of carbon-intensive oil production from the country's oil sands.