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 This material may not be published, broadcast, rewritten or redistributed.

  • 0051 JML Hiring Pumpjack assembly
    0051 JML Hiring Pumpjack assembly
  • 0049 Scotsburn Dental soft guitar
    0049 Scotsburn Dental soft guitar
  • 0050 Pride Upkeep lawn
    0050 Pride Upkeep lawn
  • 0048 Hutts Trucking Safety
    0048 Hutts Trucking Safety
  • 0047 Estevan Oilfield Technical Society 2023
    0047 Estevan Oilfield Technical Society 2023
  • 0046 City of Estevan This is Estevan
    0046 City of Estevan This is Estevan
  • 0044 PTRC CCUS Aquistore
    0044 PTRC CCUS Aquistore
  • 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
  • 0040 Southeast College safety tickets
    0040 Southeast College safety tickets
  • 0032 IWS Summer hiring rock trailer music
  • 0029 Latus Viro updated Latus phone
  • 0025 Kendalls
  • 0023 LC Trucking tractor picker hiring mix
  • 0022 Grimes winter hiring
  • 0021 OSY Rentals S8 Promo
  • 0019 Jerry Mainil Ltd hiring dugout
  • 0018 IWS Hiring Royal Summer
  • 0013 Panther Drilling PO ad 03 top drive rigs
  • 0011
  • 0006 JK Junior
  • 0004 Royal Helium PO Ad 02
  • 9001
  • 0002