While Albertans cry about increasing carbon taxes, at least one company is hoping to harness growing awareness surrounding all things carbon. CO2 Solutions’ timing is perfect as the Liberals prepare to slap a tax on all carbon emitters. CO2 Solutions which trades under the symbol CST on the TSX Venture has the following slogan: Making Carbon a New Economic Sector.
Achieving this lofty goal will be challenging, but it has the backing of the Quebec government.
On April 27th, the company reported that, Quebec’s Minister of Sustainable Development, the Environment and Climate Change, Mr. David Heurtel, had confirmed a $15 million grant to CO2 Solutions for its Valorisation Carbone Québec project (VCQ).
The company went on to note that,
“The objective of the project is to promote the development and demonstration of tangible commercial solutions to capture and reuse CO2 in added-value applications. Although CO2 has a poor reputation as a greenhouse gas (GHG), it is worth remembering that it is also an essential input for many industrial processes.”
Click here to read the entire press release.
A year ago, Russell Blinch explained how close the world was to opening up new carbon markets in How Close Are We to A Global Carbon Market?
“Consider this: Nearly one billion people are already living under the umbrella of carbon trading schemes that are meant to constrain the growth of dangerous greenhouse gas emissions. But, coverage could double to more than two billion people, if China adopts a national trading scheme, as expected, by next year.”
source: http://openmarkets.cmegroup.com/10947/how-close-are-we-to-a-global-carbon-market
China’s adoption of a national carbon trading scheme is set to be implemented by July 2017. The emission trading scheme (ETS) creates a carbon market where emitters can buy and sell emission credits. Everywhere you look people and investors are becoming more aware of carbon.
Many provinces, including Alberta have implemented a carbon program (tax) designed to redistribute capital to low and middle-income individuals.
Provinces that have failed to implement carbon taxes will soon have no choice, according to Federal carbon tax plan. These provinces will follow Alberta’s plan and include individual rebates.
“A source who has seen the plan tells The Canadian Press that the technical paper outlining Ottawa’s proposal will be released next week, seven months after Prime Minister Justin Trudeau told provinces they’d have until 2018 to implement a price on carbon or have Ottawa do it for them.”
source: http://www.ctvnews.ca/politics/federal-carbon-tax-plan-to-follow-alberta-plan-include-individual-rebates-1.3405653
Investors Cautiously Optimistic on CO2 Solutions
Investors are staying cautious towards CO2 Solutions after its shares traded to a high of $0.29 in late 2016. The carbon solutions company traded to within a penny of its 52-week low on April 25th.
CO2 Solutions is working to promote the deployment of commercial CO2 capture and reuse plants alongside industries that emit carbon. Carbon capture systems are not new; Shell and Chevron teamed up as early as 2012 in the Athabasca Oil Sands to make the oil sands ‘green’. Trudeau’s carbon tax is going to hit consumers where it hurts. It is predicted, “By 2018, a single person will pay about $400 more for gas, heat and other goods affected by the price on carbon. A couple with two kids could pay an average of $600 more.”
source: http://www.ctvnews.ca/politics/federal-carbon-tax-plan-to-follow-alberta-plan-include-individual-rebates-1.3405653
CO2 Solutions Tops Stocks in May Challenge
CO2 Solutions (CST: TSXV) gapped up 17% to $0.17 per share Friday on nearly half a million shares traded. Pinnacle member ‘mountainpose’ who hails from Ottawa selected CO2 Solutions for May’s Stock Challenge. The member of more than three years saw his combined average return jump 13.44% Friday. As a result, the move propelled mountainpose into 16th overall. After two weeks, everyone is chasing member ‘shypitka’ and his 26.63% combined average return.
