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 This material may not be published, broadcast, rewritten or redistributed.

• 0060 Arizona Lithium Lease building
  0060 Arizona Lithium Lease building
• 0059 Southeast College Heavy Equipment Operator
  0059 Southeast College Heavy Equipment Operator
• 0058 Royal Helium Steveville opens anonymous rocket
  0058 Royal Helium Steveville opens anonymous rocket
• 9002 Pipeline Online 30 sec EBEX
  9002 Pipeline Online 30 sec EBEX
• 0055 Smart Power Be Smart with your Power office
  0055 Smart Power Be Smart with your Power office
• 0015 Latus Viro
  0015 Latus Viro
• 0052 Predator Inspections
  0052 Predator Inspections
• 0051 JML Hiring Pumpjack assembly
  0051 JML Hiring Pumpjack assembly
• 0049 Scotsburn Dental soft guitar
  0049 Scotsburn Dental soft guitar
• 0046 City of Estevan This is Estevan
  0046 City of Estevan This is Estevan
• 0043 ALX ten sizes
  0043 ALX ten sizes
• 0039 Summit ESP Saskatchewan lower third
  0039 Summit ESP Saskatchewan lower third
• 0041 DEEP Since 2018 now we are going to build
  0041 DEEP Since 2018 now we are going to build
• 0032 IWS Summer hiring rock trailer music
• 0022 Grimes winter hiring
• 0021 OSY Rentals S8 Promo
• 0018 IWS Hiring Royal Summer
• 0013 Panther Drilling PO ad 03 top drive rigs
• 0011
• 0006 JK Junior
• 9001
• 0002