NEWS: Oilpatch leaders fear “reckless” move as Trudeau commits to emissions cap on sector

Prime Minister Justin Trudeau speaking at COP26 in Glasgow. Screen capture courtesy COP26

CALGARY — The chief executive of a Calgary-based energy company says a federally imposed cap on emissions from the oil and gas sector is reckless and dangerous.

At the UN climate conference in Scotland on Monday, Prime Minister Justin Trudeau formally committed to imposing emissions caps on Canada’s oil and gas industry.

The government’s new net-zero advisory body will be tasked with helping craft targets for the oil and gas cap.

But Grant Fagerheim, CEO of Whitecap Resources Inc., says he worries the government is setting unrealistic targets.

Fagerheim says the oil and gas sector is making progress reducing emissions, but reaching net-zero is going to take decades.

He says if the government hobbles the industry with unrealistic caps, Canadians will be faced with higher energy prices in years to come.

This report by The Canadian Press was first published Nov. 1, 2021.

Companies in this story: (TSX:WCP)

The Canadian Press

News from © The Canadian Press, 2021. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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