Signal snowboards cap12/9/2023 “It is impactful and something we are all concerned about,” Surge Energy CEO Paul Colborne, who didn’t attend Wednesday’s meeting, said in an interview. Last year, the Trudeau government released its Emissions Reduction Plan, showing industry emissions would tumble by 42 per cent by 2030 from 2019 levels. The oil and gas sector is the country’s highest-emitting industrial industry, although many of the players - including major oilsands producers - have already adopted a net-zero target for 2050. Probably a little bit of frustration, and a great deal of concern.” “There’s a great deal of courtesy and mutual respect. “None of the major exporters are being held to the same standard that Canada is being held to,” Belenkie said after the session. However, the incoming cap “looks pretty real” and Canada is the only major oil and gas producer facing a national carbon tax and a hard limit on emissions that must fall over time. This advertisement has not loaded yet, but your article continues below. and subsidiary Entropy Inc., a carbon capture and storage developer, said the meeting was an attempt to be collaborative, which was appreciated. Michael Belenkie, chief executive of Advantage Energy Ltd. While it doesn’t sound like a lot of tangible progress was made, it’s encouraging the various sides are actually talking. “Part of the reason I’m here is to listen to what people have to say - concerns, ideas, how we could do things - and that clearly was achieved.”ĭraft regulations on the emissions cap will likely come out in the fall, he added. very constructive conversations,” Guilbeault said after gathering with several oilpatch executives. The reporting of a consultant’s study earlier in the week, showing up to 1.3 million barrels per day of oilsands production could be “at risk” with the federal cap in place, only added to the tension. The sector and province are dubious that Ottawa’s expected 2030 goals - the feds have modelled a 42 per cent reduction in emissions coming from the industry - can be reached without significantly curbing output. The federal environment minister is responsible for putting in place a new mandatory emissions cap on the country’s oil and gas sector. Activate your Online Access Now Article content If you are a Home delivery print subscriber, unlimited online access is included in your subscription. Manage Print Subscription / Tax Receipt.
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