Sign Up for FREE Daily Energy News
Canadian Flag CDN NEWS  |  US Flag US NEWS  | TIMELY. FOCUSED. RELEVANT. FREE
  • Stay Connected
  • linkedin
  • twitter
  • facebook
  • youtube2
BREAKING NEWS:

Copper Tip Energy Services
Hazloc Heaters
Hazloc Heaters
Copper Tip Energy


Canada’s Oil Sands CEOs Speak to Ottawa, Push Back Against Trudeau’s Proposed Oil and Gas Emissions Cap


These translations are done via Google Translate

Canada’s biggest oil sands producers support a paying a tax on carbon but see a proposed federal oil and gas emissions cap as unnecessary legislation, the companies’ CEOs told lawmakers in Ottawa on Thursday.

Executives from Suncor Energy, Imperial Oil, Cenovus Energy, Enbridge and Shell appeared via videolink before a House of Commons committee to answer questions on their efforts to cut emissions.

The oil and gas sector is Canada’s highest-polluting industry, accounting for more than a quarter of all emissions, and in 2022 made record profits as oil prices soared during Russia’s invasion of Ukraine. Climate campaigners say companies should invest more of their profits in decarbonization.

Prime Minister Justin Trudeau’s Liberal government is planning to introduce a cap on the sector’s emissions but faces stiff opposition from the industry, which argues the legislation in unnecessary because Canada already has regulatory incentives in place, including a price on carbon produced by industry.

ROO.AI Oil and Gas Field Service Software
GLJ
Tarco | Delivering Engineered Solutions

“I do support a price on carbon across the economy because I believe that will drive the innovation, the economic incentives on all of our part to continue to improve our business,” said Suncor CEO Rich Kruger.

“I fundamentally worry that a cap on emissions, the way it’s constructed, will be a cap on production,” he added.

Canada is the world’s fourth-largest oil producer.

Share This:




More News Articles


GET ENERGYNOW’S DAILY EMAIL FOR FREE