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Kenney pitches Alberta as Canada's home of hydrogen economy – CTV News Edmonton

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Premier Jason Kenney pitched Alberta as the future home of the hydrogen economy Tuesday at an energy event in Edmonton.

Kenney presented his plan to 2,000 people at Canada’s first hydrogen convention with hopes of drawing attention and money to Alberta.

“Hydrogen is the next chapter in a story Albertans have been writing for nearly a century,” said Kenney. “Alberta has the second best geological formation in the world for carbon sequestration.

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“We have a growing renewable sector, in fact the fastest growing in Canada, and that can support clean hydrogen production across the province through a number of methods.”

The government wants to use the geological gift and Alberta’s skilled workforce to cash in on what will be an $11 trillion industry by 2050, according to Kenney.

The premier also spoke about a $50 million investment over the next four years to create the Clean Hydrogen Centre of Excellence. The centre will be a “pillar in Alberta’s Hydrogen Roadmap” and “will bring together industry, researchers and small businesses,” according to a government release.

“We’re hoping to leverage additional investments from the federal government and the private sector to turn it into a $200 million investment overall,” said Doug Schweitzer, the minister of jobs, economy and innovation.

The centre will be in Edmonton and run by Alberta Innovates, a government corporation responsible for promoting innovation in the province.

CANADA’S HYDROGEN PLANS

On Tuesday, a report from the commissioner of the environment and sustainable development, a part of the auditor general’s office, evaluated the federal government’s approach to reducing greenhouse gas emissions.

The commissioner questioned projections that hydrogen could cut up to 45 megatonnes of carbon dioxide by 2030. The report says Natural Resources Canada’s estimates are founded on doubtful cost estimates and depend on legislation that doesn’t exist yet, or at least isn’t consistent across the country.

The federal natural resources minister, who was attending the hydrogen conference, said despite the concerns from the report, Canada’s hydrogen goals are “feasible.”

“We will be launching a process with the provinces over the next several weeks to align on some of these economic issues,” said Jonathan Wilkinson.

Wilkinson said that Ottawa has much work to do to bring the provinces along with the government’s emissions reduction plan. He added that his government is prepared to move on its own, with measures such as bringing in a supply mandate for electric vehicles.

“The strategy is overly optimistic, but it actually is looking at what needs to be done. Our criticism is that you can’t just assume that those changes are going to happen,” said Commissioner Jerry DeMarco.

“(The government) could be right that this transformative scenario will happen, but they’ve got to actually put in place the programs.”

A supply mandate requiring manufacturers to have a certain number of electric vehicles for sale is expected in the coming weeks, according to Wilkinson.

Wilkinson added the price gap between natural gas and hydrogen will be narrowed through a combination of carbon taxes, industry commitments and new technology. He said a U.S. program, with which Canada is working, aims to bring the price of hydrogen down to $2 a kilogram by 2030 — a narrow enough gap to close with carbon pricing.

ALBERTA’S ROADMAP STILL ‘SHORT ON DETAILS’: NDP

Alberta’s official opposition is happy to see the government recognize the potential of hydrogen, but worries the initiatives might be coming too late.

“As other countries move towards the production of hydrogen it will take the right policy, investments, and leadership from the provincial government to be a leader in this sector,” said Kathleen Ganley, the NDP energy critic.

“Unfortunately, the UCP has dragged their feet and downplayed the potential of our hydrogen industry. They’ve even acknowledged they’re surprised by how quickly the industry has developed. To date, their hydrogen roadmap still remains short on details and this government needs to move quickly to capitalize on the excitement in this sector to ensure Alberta doesn’t fall behind.”

A spokesperson with Greenpeace Canada would also like to see Alberta pursue green hydrogen, not fossil hydrogen.

“Alberta could be a leader there too. We need to be moving away from fossil fuels,” said Keith Stewart. “Particularly, Europe is interested in green hydrogen and Canada could be part of providing that. It can also be used here at home to help with industrial emissions that are hard to reduce.”

There are two basic ways of producing hydrogen, according to Stewart. One is to use natural gas, where the hydrogen molecules are separated from the carbon molecules, another is to run an electrical current through water.

“(Hydrogen) isn’t an energy source on its own,” said Stewart. “It’s a way of storing energy, it’s like a battery, you can then reconvert it to electricity.

“If you get it from water and you use wind, solar or hydro power to generate the electricity that’s used, then it’s really low carbon.”

With files from CTV News Edmonton’s Chelan Skulski and The Canadian Press    

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Economy

China Wants Everyone to Trade In Their Old Cars, Fridges to Help Save Its Economy

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China’s world-beating electric vehicle industry, at the heart of growing trade tensions with the US and Europe, is set to receive a big boost from the government’s latest effort to accelerate growth.

That’s one takeaway from what Beijing has revealed about its plan for incentives that will encourage Chinese businesses and households to adopt cleaner technologies. It’s widely expected to be one of this year’s main stimulus programs, though question-marks remain — including how much the government will spend.

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German Business Outlook Hits One-Year High as Economy Heals

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German business sentiment improved to its highest level in a year — reinforcing recent signs that Europe’s largest economy is exiting two years of struggles.

An expectations gauge by the Ifo institute rose to 89.9. in April from a revised 87.7 the previous month. That exceeds the 88.9 median forecast in a Bloomberg survey. A measure of current conditions also advanced.

“Sentiment has improved at companies in Germany,” Ifo President Clemens Fuest said. “Companies were more satisfied with their current business. Their expectations also brightened. The economy is stabilizing, especially thanks to service providers.”

A stronger global economy and the prospect of looser monetary policy in the euro zone are helping drag Germany out of the malaise that set in following Russia’s attack on Ukraine. European Central Bank President Christine Lagarde said last week that the country may have “turned the corner,” while Chancellor Olaf Scholz has also expressed optimism, citing record employment and retreating inflation.

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There’s been a particular shift in the data in recent weeks, with the Bundesbank now estimating that output rose in the first quarter, having only a month ago foreseen a contraction that would have ushered in a first recession since the pandemic.

Even so, the start of the year “didn’t go great,” according to Fuest.

“What we’re seeing at the moment confirms the forecasts, which are saying that growth will be weak in Germany, but at least it won’t be negative,” he told Bloomberg Television. “So this is the stabilization we expected. It’s not a complete recovery. But at least it’s a start.”

Monthly purchasing managers’ surveys for April brought more cheer this week as Germany returned to expansion for the first time since June 2023. Weak spots remain, however — notably in industry, which is still mired in a slump that’s being offset by a surge in services activity.

“We see an improving worldwide economy,” Fuest said. “But this doesn’t seem to reach German manufacturing, which is puzzling in a way.”

Germany, which was the only Group of Seven economy to shrink last year and has been weighing on the wider region, helped private-sector output in the 20-nation euro area strengthen this month, S&P Global said.

–With assistance from Joel Rinneby, Kristian Siedenburg and Francine Lacqua.

(Updates with more comments from Fuest starting in sixth paragraph.)

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Parallel economy: How Russia is defying the West’s boycott

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When Moscow resident Zoya, 62, was planning a trip to Italy to visit her daughter last August, she saw the perfect opportunity to buy the Apple Watch she had long dreamed of owning.

Officially, Apple does not sell its products in Russia.

The California-based tech giant was one of the first companies to announce it would exit the country in response to Russian President Vladimir Putin’s full-scale invasion of Ukraine on February 24, 2022.

But the week before her trip, Zoya made a surprise discovery while browsing Yandex.Market, one of several Russian answers to Amazon, where she regularly shops.

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Not only was the Apple Watch available for sale on the website, it was cheaper than in Italy.

Zoya bought the watch without a moment’s delay.

The serial code on the watch that was delivered to her home confirmed that it was manufactured by Apple in 2022 and intended for sale in the United States.

“In the store, they explained to me that these are genuine Apple products entering Russia through parallel imports,” Zoya, who asked to be only referred to by her first name, told Al Jazeera.

“I thought it was much easier to buy online than searching for a store in an unfamiliar country.”

Nearly 1,400 companies, including many of the most internationally recognisable brands, have since February 2022 announced that they would cease or dial back their operations in Russia in protest of Moscow’s military aggression against Ukraine.

But two years after the invasion, many of these companies’ products are still widely sold in Russia, in many cases in violation of Western-led sanctions, a months-long investigation by Al Jazeera has found.

Aided by the Russian government’s legalisation of parallel imports, Russian businesses have established a network of alternative supply chains to import restricted goods through third countries.

The companies that make the products have been either unwilling or unable to clamp down on these unofficial distribution networks.

 

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