Oilpatch concerned that federal emissions cap could require production cuts

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Oilpatch concerned that federal emissions cap could require production cuts
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A new discussion paper on the proposed cap is causing a stir among Canada\u0027s oil producers. Read more.

that it is considering two options to drive down emissions in order to meet its climate promises: a cap-and-trade system with a set number of allowances distributed to oil and gas facilities, or a modified carbon-pricing system that could see the industry pay a higher carbon price.

“The biggest risk is if we just can’t comply and don’t have the mechanisms that allow us to comply, that we would have to shut in production as opposed to investing in technology to reduce emissions.” Environment and Climate Change Minister Steven Guilbeault during Question Period in the House of Commons on Parliament Hill in Ottawa.Some energy investors say they’re skeptical the industry will be able to meet the federal government’s 2030 emissions targets since CCUS technology — viewed as key to achieving deep emissions cuts from the sector — is expensive and slow to build.

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