Canadian Governments Proposed Emissions Cap For Oil And Gas Sector

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Ottawa draft rules cap emissions from oil and gas sector to 35% below 2019 levels
Ottawa draft rules cap emissions from oil and gas sector to 35% below 2019 levels from

Canadian Government’s Proposed Emissions Cap for Oil and Gas Sector

Ottawa Unveils Draft Regulations

The Canadian government has released draft regulations that would impose a cap on greenhouse gas emissions from the oil and gas sector, a move that is being hailed by environmentalists as a significant step in the fight against climate change. The proposed regulations, which are still subject to public consultation, would require the sector to reduce its emissions by 35% below 2019 levels by 2030. This target is in line with Canada's commitments under the Paris Agreement, which aims to limit global warming to well below 2 degrees Celsius above pre-industrial levels.

Industry Reaction

The oil and gas industry has expressed mixed reactions to the proposed regulations. Some companies have welcomed the move, saying that it will provide clarity and certainty for the sector. Others have expressed concern that the regulations could hurt the industry's competitiveness and lead to job losses. The Canadian Association of Petroleum Producers (CAPP) has said that it is "deeply concerned" about the proposed regulations, arguing that they could cost the industry billions of dollars and result in the loss of thousands of jobs.

Environmentalists Applaud

Environmental groups have applauded the proposed regulations, saying that they are a necessary step to address the climate crisis. Greenpeace Canada called the regulations a "critical step forward" in the fight against climate change. The Pembina Institute said that the regulations are a "good start" but that more needs to be done to reduce emissions from the oil and gas sector.

Next Steps

The draft regulations are now open for public consultation until December 22, 2023. The government will then review the feedback and make any necessary changes to the regulations before they are finalized. The regulations are expected to come into effect in 2024.

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