Canada’s Industry Responds to Draft Cap-and-Trade Regulations

Canada’s industry body CAPP has issued a statement on the nations Draft Oil and Gas Sector Greenhouse Gas Emissions Regulations, saying no government should pursue such value-destroying and patently unconstitutional legislation.

“This is a federal production cap under the guise of an emissions cap and well outside of federal jurisdiction,” says Lisa Baiton, CAPP President & CEO.

“Canada is facing an affordability crisis and a decelerating economy along with the looming threat of a 25 percent tariff from our largest trading partner. Canadians cannot afford to have another layer of policy proceeding that will further deter investment into one of the country’s foundational economic sectors, which would result in less jobs, less opportunities for businesses, less revenues for governments, and a lower standard of living for Canadians.

“CAPP and its members do not see an oil and gas emissions cap as an appropriate tool for addressing greenhouse gas emissions. We support market-driven solutions that deliver emission reductions at the lowest cost to Canadians while encouraging investment and growth in Canada’s economy.

“Continuing to advance this unconstitutional regulation will only serve to create more uncertainty for oil and natural gas and overall business investment in this country. CAPP does not believe this