Alberta to spend billions to cut emissions

CALGARY, Alberta (Reuters) - The oil-rich Canadian province of Alberta said on Tuesday it will put C$4 billion ($3.92 billion) into two funds that will be used to pay for carbon capture and storage programs and to boost use of public transit to cut the province's carbon-dioxide emissions. The Alberta government said it will set aside C$2 billion in each of the two funds, with the cash coming from its budget surplus for this year - a figure last pegged at C$1.6 billion but expected to be billions of dollars higher due to the increased royalties the province is collecting from record high oil prices. "We're reducing the impact of industrial emissions with carbon capture and storage and investing in public transit to reduce the impact from our tailpipes," Alberta Premier Ed Stelmach said in a statement. Alberta is facing... [read full story]