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Five things to know about the proposed emissions cap on oil and gas production
Canada proposed a greenhouse gas emissions cap-and-trade system for the oil and gas sector to reduce emissions by 27% below 2026 levels or 35% below 2019 levels.
Environment Minister Steven Guilbeault stated that Canada's oil and gas sector produces "more than double the combined pollution from all other heavy and light industries.”
Environmental groups described the proposed regulations as "a historic first" and "good news" for tackling climate change.