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Published 24 days ago

Lobby group says emissions cap would cost oil and gas sector $75B in lost investment

  • If oil and gas drillers reduced greenhouse gas emissions by 40% by 2030, there could be a $75 billion decrease in capital investment over nine years, resulting in one million barrels less of daily production by 2030 and 51,000 fewer jobs by 2030.
  • The report confirms that the government's proposed emission cap would indirectly limit fossil fuel production, aligning with the industry’s concerns.
  • The study also considers the potential impact of methane regulations, projecting a 75% reduction in emissions by 2030, highlighting the uncertainty of these policies.
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