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Lobby group says emissions cap would cost oil and gas sector $75B in lost investment
- Canada's non-oilsands fossil fuel production could decrease by 1 million barrels per day by 2030 due to proposed emissions cap and methane reduction targets, as stated by an oil and gas lobby group.
- The Canadian Association of Petroleum Producers commissioned a study by S&P Global Commodity Insights to assess the economic impact of emissions-reducing policies on non-oilsands oil and gas producers.
- If oil and gas drillers must cut greenhouse gas emissions by 40% by 2030, there could be $75 billion less in capital investment over nine years, resulting in 1 million barrels of oil equivalent lower production per day by 2030 and 51,000 fewer jobs, according to CAPP.
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Coverage Details
Total News Sources26
Leaning Left15Leaning Right2Center3Last UpdatedBias Distribution75% Left
Bias Distribution
- 75% of the sources lean Left
75% Left
L 75%
15%
Factuality
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