Canada Rethinks Oil Emissions Cap Amid Industry and Provincial Dialogue
The Canadian government is reconsidering an emissions cap on the oil sector, holding discussions with Alberta and energy companies. The cap could be scrapped for new climate strategies contingent on emissions reduction commitments. The government seeks a balance between economic growth and environmental responsibility.
Canada's federal government is engaging in conversations with energy firms and Alberta over potentially eliminating a proposed emissions cap on the oil and gas industry, as per sources familiar with the matter. The cap, not yet legislated, has faced industry backlash due to concerns over production cuts.
Prime Minister Mark Carney, who has shifted from environmental priorities to protect the economy, indicates the cap might be removed if alternative emissions reductions are achievable. Talks are part of a developing climate competitiveness strategy set for release later this year, and feedback on the cap is under governmental review.
Natural Resources Minister Tim Hodgson highlighted the government's commitment to environmentally responsible energy delivery. The potential removal of the cap is contingent upon tangible emissions reduction efforts by Alberta and the oil sector, aiming to address Canada's leading emission challenges from the oil sands region.
(With inputs from agencies.)
Google News