CDN NEWS | 
US NEWS 
The Canadian Association of Energy Contractors (CAOEC) supports the federal government’s investment in clean energy tax credits announced in the 2023 federal budget on March 28. “The CAOEC recognizes progress has been made for the energy services sector with new tax credits for clean technology manufacturing and processing, and critical mineral extraction and processing. The investment creates a level playing field with the United States to encourage investment in our energy industry. We look forward to advancing emissions reduction with these incentives,” says Mark A. Scholz, CAOEC President & CEO.
However, CAOEC hopes more will be done to accelerate the deployment of carbon-abating technology in the energy services sector, specifically for broader resource extraction. The Association notes the federal government’s failure to recognize the importance of carbon abatement activities in Canada’s oil and natural gas extraction activities will impact the pace of emissions reduction in the energy services sector. The sector already has the proven technologies needed, like high-line power, fuel cell power, battery energy storage systems, and more, as outlined in the Association’s white paper Appendix. However, multi-lateral coordination with the federal government and the provinces is needed to get these on the field to decarbonize the work.
Canada’s energy services sector supports thousands of middle-class jobs for Indigenous and young people, and employs skilled workers who will lead the global energy transition. “Almost every government-mandated push for a sustainable energy transition requires our equipment and our people; we are essential in the extraction of Canada’s diverse energy and mineral resources, including lithium, helium, geothermal, CCUS, LNG, oil, and natural gas. Canada cannot lead a successful energy transition without addressing the realities of the Indigenous and small-to-medium sized companies at the heart of the energy sector,” asserts Scholz.
CAOEC calls on the federal government to consider an inclusive approach on their clean energy investment credit which would include a refundable tax credit of the capital investments required to accelerate carbon-abating technology in the entire energy services sector, as outlined in their white paper, Leading Collaboration Through the Energy Transition.
-30-
About Us
The CAOEC represents 97 land drilling rig, directional drilling, offshore drilling, and service rig member companies (nearly 100% of the industry) on the front lines of energy security and transition. The membership operates a fleet of 440 land drilling rigs and 730 service rigs in northeast British Columbia, Alberta, Saskatchewan, and southwest Manitoba, and offshore drilling rigs operating in Atlantic Canada.
CAOEC’s members are varied and diverse. Many of our members are small and medium-sized enterprises that have been leaders in creating opportunities for young people, Indigenous communities, and middle-class workers.
For more information, contact:
Caroline Kadri – Manager, Communications & Stakeholder Relations
Canadian Association of Energy Contractors
Phone: (403) 264-4311 ext. 110
Email: ckadri@caoec.ca
Share This:
