.png)
Canada’s federal government proposed on Monday steps to develop an emissions cap for the oil and gas sector, the largest contributor to the country’s greenhouse gas emissions. The plan drew criticism from the government of the key oil and gas-producing province, Alberta, which said it would not accept a plan from the federal government interfering with its ability to develop energy resources. In a discussion document published this week, Canada seeks input by September 30, 2022, on two proposed ways to cap emissions from the oil and gas industry. One option is to introduce a cap-and-trade system under the Canadian Environmental Protection Act that sets regulated limits on emissions from the sector. The other is to modify the carbon pricing benchmark requirements for heavy emitters to create price-driven incentives to reduce emissions to levels corresponding to the cap. The oil and gas sector is Canada’s largest source of greenhouse gas emissions, accounting for around 27 percent of total national emissions in 2020, the Canadian government said. “True global energy security and affordability can only come with reduced emissions. With this cap, we will work with industry, provinces, Indigenous groups, civil society, and others to take action on drawing down […]
CamTrader offers a preview only. View original article. oilprice.com
