CDN NEWS | 
US NEWS 
Nov 4 (Reuters) – The Canadian government on Monday released draft regulations that would cap emissions of greenhouse gases from the oil and gas sector by 35% from 2019 levels, slightly less than initially envisaged.
The regulations would create a cap-and-trade system designed to recognize better-performing companies and give an incentive to higher-polluting firms to make their production processes cleaner, the environment ministry said in a news release.
The Liberal government had initially said it wanted the energy industry – Canada’s highest-polluting sector – to cut emissions by up to 38% from 2019 levels by 2030. Monday’s news release made no mention of 2030.
The draft rules are designed to put a clear limit on pollution from oil and gas production, Ottawa says.
“The proposed regulations work by setting a cap on greenhouse gas pollution within the sector, equivalent to 35% below 2019 levels,” the release said.
Government ministers will give more details of the regulations at 1 p.m. EST (1800 GMT) on Monday.
The energy industry and oil-producing provinces say the regulations are in effect a production cap that will kill jobs and cut tax revenue.
“The proposed regulations put a limit on pollution, not production … (they) are carefully designed around what is technically achievable within the sector, while allowing continued production growth,” said the release.
Formal consultations on the regulations will run from Nov. 9 until Jan. 8 of next year. The final version will be published in 2025, Ottawa said, but gave no details on timing.
Share This:
