The Liberal government announced its regulatory framework for capping emissions in the oil and gas sector Thursday, unveiling a national cap-and-trade system that it says will set emissions limits without restricting production.
“The Government of Canada’s plan to cap and reduce emissions from Canada’s largest emitting sector is ambitious, but practical. It considers the global demand for oil and gas — and the importance of the sector in Canada’s economy — and sets a limit that is strict, but achievable,” Environment Minister Steve Guilbeault said in a statement.
The framework proposes to cap 2030 emissions at 35 to 38 per cent below 2019 levels in
