It depends on the objective. In the context of the Paris Agreement, for example, oil exported from Canada and burned elsewhere is not included in Canadian climate targets. If Canada reduces its emissions but exports oil, those exports do not count on its balance sheet.
In my view, subsidies should be used to decarbonize overall utilization. We may be able to justify subsidizing production of blue hydrogen, which represents at least a 90% life cycle reduction over methane, that is, grey hydrogen. That would transform the entire economy.
Using capture and storage to subsidize exports seems inappropriate to me given that we must move towards net zero and that funding must be devoted to transforming the energy system as a whole.