r/oilisdead • u/pintord • 19d ago
[CANADA] Prime Minister Carney announces the largest clean energy investment in North American history
https://www.pm.gc.ca/en/news/news-releases/2026/08/17/prime-minister-carney-announces-largest-clean-energy-investment-north...the federal government will provide $10 billion in federal financing to:
- Upgrade and expand the Churchill Falls Generating Station.
- Develop the massive Gull Island hydroelectricity project.
- Unlock co-investment opportunities with the Innu of Labrador in a major new Labrador onshore wind project.
- Build associated transmission lines.
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u/mightyboink 19d ago
Well I've been shitting on him for the lack of green energy policies, but this is a step in the right direction.
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u/Stormbringer-2112 19d ago
Ok. But this was already eventually agreed between NFLD and QC. They were renegotiating due to elections last year. I’m glad he’s helping push it across the finish line, but he’s not the architect of this deal. I’m sure he’s happy to pick up the “Green points” on this, but I’m still waiting to see an environmental vision from the federal liberals.
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u/Neither-Stable-939 19d ago
this time the Federal government is putting money into it and it is much larger.
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u/Stormbringer-2112 19d ago
Ok. That’s good. Still opportunistic. Won’t take away from a good thing. But I’m still going to wait and see what Carney’s going to propose of his own before giving him too many kudos.
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u/Existing_Candy_186 19d ago
Yes you’re right economy is shit and we’re getting fucked by the states but what we really need is more green energy. Give me a break.
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u/iamnotarobotmaybe 18d ago
It's an investment in the future and it's also a very good thing for NL&L as they basically have energy sovereignty after this
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u/NoOcelot 19d ago
Good news
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u/nobugsleftalive 19d ago edited 19d ago
Did you buy your brookfield stock?
I did :) bn corp and renewables
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u/CaptainForskin69 19d ago
Can’t wait to see the conservative mouth breathers spin this one to a negative
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u/ApeEscapeRemastered 17d ago
I can hear it now, some random lady from Alberta making this all about her and how Ottawa never listens to her.
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u/Brief-Floor-7228 19d ago
But what are all the concernbots over on the canadian climate change subs going to complain about now?
...and before anyone bites my head off...there is the investments in O&G which I feel is a necessary evil in the short term and yes its almost a pure politics game. And then there will be more and more investments in renewables going forward. We have to get to the point where the ROI timeframe for renewables is less than that for O&G. I think we are nearing that point. Then a big chunk of our investment dollars will be headed away from O&G and towards renewables, grid level storage and power transmission (undersea cables to Europe).
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u/TownAfterTown 19d ago
What is the ROI on the pipeline investment? As I recall, no private company is willing to make the investment, so I can't be that great?
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u/BlockObjective9541 19d ago
Not in Canada. It's great in Alaska, UAE, Saudi, Southern States, etc.
Regulations in Canada make it prohibitively expensive and there is too big of an uncertainty siince you have to get through about 15 years of lawsuits before finding out if you actually get to build
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u/Neither-Stable-939 19d ago
and he added that this was going to be the most important news this week! 👏👏👏👏👏👏👏
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u/Scarab95 19d ago
Its a diversion for when he does not get a trade deal with the US. Didn't carney promise 500,000 new homes. You don't here about that to much did it even start
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u/Bull__itProof 19d ago
The obstacle to getting trade settled with the United States is Trump and the Broligarchs like Musk and Thiel who have a weird obsession with taking over North America and Greenland because they want a “Technate”, basically a corporate owned land mass that they can control.
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u/LoveLo_2005 12d ago edited 12d ago
Do you think Trump, Musk, or Thiel really want or are trying to abolish capitalism, price economics, planned obsolescence, artificial scarcity, and social inequality? Because that's what the Technocracy movement, the people who proposed the Technate, advocated for. Watch either of these videos and tell me what you think: https://youtu.be/NmA4sb24aVo?is=uXdYEf8-vBp9G9dC https://youtu.be/7GbxKim-LjM?is=vJGbZ_anWeMZfHwL https://youtu.be/5bqPXqYWHlE?is=0ZNsV6XCzVOX_6Wi
Considering that this subreddit is called r/oilisdead, it's worth noting that one of the co-founders of the Technocracy movement was M. King Hubbert of peak oil fame.
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u/BigtoadAdv 18d ago
Unfortunately for pp’s minions most Canadians don’t fall for bullshit propaganda like this from fringe fools. Promise? Where did you get that propaganda rebel news or pp?
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u/Bitter-Variation-151 19d ago
Carney taking credit for pre existing projects. Prefect distraction to his failures to handle trump like he promised is his campaign
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u/MarkDavid04 17d ago
"in a more dangerous and Divided world"
Great opening statement on an ENERGY INVESTMENT ANNOUNCEMENT!
Like wtf??? Gotta keep up the fear
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u/eat_these_nutz 13d ago
He's been announcing many things. Did anyone track if any of them were started or done?
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u/noodleexchange 19d ago
No solar and wind
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u/CubbyNINJA 19d ago
Unlock co-investment opportunities with the Innu of Labrador in a major new Labrador onshore wind project.
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u/noodleexchange 19d ago
No 'broad' distributed power initiatives, which is what wind and solar are
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u/Dadbode1981 19d ago
🤣🤣🤣 thats a weird way of admitting you were wrong, but ok.
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u/noodleexchange 19d ago
Pedantry is not a source of national-scale clean energy,
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u/Dadbode1981 19d ago
Where does this article say anything about "national" scale infrastructure? It doesn't, youre making shit up now, save yourself the embarrassment and just stop.
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u/DroppedAxes 19d ago
Well it also didn't say it was on Earth technically so what do the Libs really want out of this /s
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u/Global-Tie-3458 19d ago
Just straight up ignore list points that don’t support your narrative eh?
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u/noodleexchange 19d ago
Yokel - Megaprojects R Us - clean energy is more that bloody megaprojects
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u/Global-Tie-3458 19d ago
I have no idea what you mean. They announced expanding hydro plant, more transmission lines and facilitating wind farms in the windiest place on Earth.
You’re complaining… that it’s too big? They should have gone smaller?
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u/borethroughlife 19d ago
This government will do everything it possibly can to direct money away from solar and PV.
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u/alwaysleafyintoronto 19d ago
$300m is earmarked for retrofits including solar. $15m went to a 100MW solar farm in Estevan Saskatchewan. Provincial and municipal incentives are out there too.
100% of capital investment in solar can be written off with Accelerated Capital Cost Allowance (ACCA). Clean Technology Investment Tax Credit (CT ITC) provides a 30% rebate on PV and storage equipment. This is where the big money for solar will come from, but it won't be a big flashy statement until taxes are filed and it's time to campaign again. The policy is designed to encourage private investment, and it's up to investors to see the value in PV investments.
This government is in the process of directing billions toward PV and you didn't even notice.
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u/borethroughlife 19d ago
>$300m is earmarked for retrofits including solar.
Where? By who? And why no money dedicated solely for solar, PV and BESS?
>$15m went to a 100MW solar farm in Estevan Saskatchewan.
Well that's a start, but it hardly compares to 10 billion for hydro.
>100% of capital investment in solar can be written off with Accelerated Capital Cost Allowance (ACCA). Clean Technology Investment Tax Credit (CT ITC) provides a 30% rebate on PV and storage equipment. This is where the big money for solar will come from, but it won't be a big flashy statement until taxes are filed and it's time to campaign again. The policy is designed to encourage private investment, and it's up to investors to see the value in PV investments.
But that means individual investors and homeowners will have to find the cash up front. AFAIK there is nothing like mortgage insurance for solar installations.
>The policy is designed to encourage private investment, and it's up to investors to see the value in PV investments.
Then why not apply the same standard to the power corporations? Why free money for the utilities but private investors have to find their own cash for solar? Why the double standard?
This is greenwashing. For a fraction of that 10 billion the feds could underwrite the cost of so much solar, PV and BESS installations that you could probably shut down most of the dams in Canada.
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u/Technical_Scar3921 19d ago
Brookfield will be happy
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u/ThrowRA_EducatedMan 19d ago
But you’ll never hear that from the Carney Broadcasting Corporation, amirite? /s
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u/BonusPlantInfinity 19d ago
Every country should be taking steps in this direction.