Carbon-capture plan gets funding boost

Article Excerpt

AGRIUM INC. $43 (Toronto symbol AGU; Aggressive Growth Portfolio, Resources sector; Shares outstanding: 157 million; Market cap: $6.6 billion; Price-to-sales ratio: 0.5; SI Rating: Average) is working on a plan to capture carbon dioxide released from its fertilizer plant near Edmonton. The company wants to ship the reclaimed carbon to oil producers, who would pump it into underground deposits to extract more oil. Selling its excess carbon would give Agrium another source of revenue. This year, the Alberta government will allocate $100 million to three carbon-capture proposals, including Agrium’s project. It did not say how much each would receive. However, it will probably take Agrium several years to perfect this technology. Agrium is a hold. hold…