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Oil, gas companies told to cut emissions by one-third under planned cap

  • Canadian oil and gas producers must reduce greenhouse gas emissions by about one-third over the next eight years, according to new regulations from Environment Minister Steven Guilbeault.
  • The emissions target requires operations to fall to 35 percent less than 2019 levels by 2030-2032, with half the cuts likely coming from methane reductions.
  • The regulations are in draft format, could strain relations between Ottawa and Alberta, and do not require production cuts.
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Ottawa has announced that it wants to reduce emissions from its hydrocarbon sector by about 30% by 2030. The government plans to introduce a cap-and-trade system for carbon credits but not to reduce productionCanada announced on Monday that it wanted to reduce emissions from its oil and gas sector by a third as early as 2030 by implementing a carbon credit cap and trade system, but not reducing production.The objective of the system, which would…

crestonvalleyadvance.cacrestonvalleyadvance.ca
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Oil, gas companies have 8 years to cut emissions by one-third

Liberals unveiling planned cap to fulfil a 2021 election promise

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Winnipeg Free Press broke the news in Winnipeg, Canada on Monday, November 4, 2024.
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