The Liberals introduced draft regulations back in November that require producers to cut emissions by about one-third over the next eight years.
Environment Minister Terry Duguid stated that a Mark Carney government would maintain the oil and gas emissions cap, a policy promised by the Liberals in 2021 and currently under draft regulations requiring a 35% emissions reduction by 2030-2032. The proposed cap-and-trade system aims to incentivize emissions reduction through allowance trading. Industry leaders and conservative politicians, including Alberta Premier Danielle Smith and Conservative Leader Pierre Poilievre, oppose the cap, citing concerns about production limits, economic impact, and investment deterrence.
