Canada to propose new rules capping greenhouse gas emissions from oil and gas sector
theglobeandmail.com — November 4, 2024, 04:01 PM UTC
The Canadian government will release draft regulations on Monday to limit greenhouse gas emissions from the oil and gas sector to 35% below 2019 levels. This target is at the lower end of a previously announced range of 35% to 38%.
The new rules will use a cap-and-trade system, where facilities must hold allowances for their emissions. The government plans to gradually reduce the number of allowances over time, aiming for lower emissions by 2030.
The Alberta government and oil industry oppose the cap, arguing it could hinder investment and lead to job losses. They have criticized the federal plan as unrealistic and ineffective, launching a public campaign against it.
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