Trudeau Climate Plan Seeks 42% Cut in Oil and Gas Emissions
- Government lays out road-map to hit ambitious 2030 targets
- Carbon-capture tax credit coming; no details yet on sector cap
A Suncor Energy upgrader plant in Athabasca oil sands, near Fort McMurray, Alberta.
Photographer: Ben Nelms/BloombergThis article is for subscribers only.
Prime Minister Justin Trudeau’s government wants a 42% reduction in emissions from the oil and gas sector as part of Canada’s plan to meet its 2030 emissions-reduction goal.
Trudeau’s blueprint promises industry a tax credit to help pay for carbon-capture projects, details of which may come as soon as next week’s federal budget. It doesn’t, however, include a specific emissions cap on the fossil-fuel sector, which accounts for about a tenth of Canada’s total economic output.