Canada Proposes Sharp Cut in Oil and Gas Sector Emissions by 2030

Ottawa Releases Emissions Reduction Plan Aiming to Sharply Reduce Emissions from Fossil Fuel

Plan Includes Carbon Capture and Storage, Hydrogen Production, and Methane Reduction Initiatives

Canada has unveiled an ambitious plan to slash emissions from its oil and gas sector by 42% by 2030. The plan, released by the federal government, outlines a series of measures aimed at reducing greenhouse gas emissions from the sector, which currently accounts for about a quarter of Canada's total emissions.

The plan includes a mix of regulatory measures, financial incentives, and technology investments. One of the key elements is a new carbon capture and storage (CCS) program, which will provide financial support to projects that capture and store carbon dioxide from oil and gas operations. The government is also investing in hydrogen production and use, which can replace fossil fuels in a variety of applications.

In addition, the plan includes measures to reduce methane emissions from oil and gas operations. Methane is a powerful greenhouse gas that is about 25 times more potent than carbon dioxide. The plan includes regulations to reduce methane emissions from new and existing facilities, as well as funding for research and development of new methane reduction technologies.

The government estimates that the plan will reduce emissions from the oil and gas sector by 42% by 2030, and by 75% by 2050. The plan is part of Canada's broader commitment to reduce its greenhouse gas emissions by 40-45% below 2005 levels by 2030.

The plan has been welcomed by environmental groups, who have long called for stronger action to reduce emissions from the oil and gas sector. However, the plan has also been criticized by some industry groups, who argue that it will harm the economy and cost jobs.

The government has said that it is committed to working with industry to implement the plan in a way that minimizes the economic impact. The government has also said that it will provide financial support to workers and communities that are affected by the transition to a lower-carbon economy.