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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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