Canadian oil, gas emissions to be cut more than one-third by 2030 but offset credits allowed

[Independent thinker]

Well..seems like Canada has set themselves quite the goal..is it possible? Time will tell, but for a country with vast oil resources to take such a stand is telling. Of course, this has been in the works for a while..dividing the country twist East and West..even more than it already is, with the bulk of the petro industry totally against this move.

Bloomberg - Are you a robot?

MSN

Canada will require its oil and gas industry to cut emissions to 35% to 38% below 2019 levels in six years in what the government is calling a historic first for a major fossil-fuel producing country.
Environment Minister Steven Guilbeault announced the long-promised oil and gas emissions cap Thursday at the COP28 summit in Dubai, a policy likely to inflame tensions with conservative leaders of western provinces that are home to the bulk of the industry.
Prime Minister Justin Trudeau’s government will implement a cap-and-trade system to achieve the cuts. It will set a legal limit on the sector’s emissions and then allow companies to buy and trade a limited number of emissions allowances or permits. Companies that reduce emissions will be able to sell more permits, thereby rewarding those who innovate to cut pollution.

Well, we all know the result of that. Either Canadian debt will soar, taxes will be raised, or prices will be raised. The little guy gets hurt either way, increasing income inequality because it is the poor who really pay the price.

 

[Donald H]

Well, we all know the result of that. Either Canadian debt will soar, taxes will be raised, or prices will be raised. The little guy gets hurt either way, increasing income inequality because it is the poor who really pay the price.

Sadly, that's consistent with capitalism that's not not moderated by socially responsibility.

Canada has another political party or two and that's how we are different from America. You have but one.

 

[Independent thinker]

Sadly, that's consistent with capitalism that's not not moderated by socially responsibility.

Canada has another political party or two and that's how we are different from America. You have but one.

Not sure what you are talking about. If Canada does that, they are capitalist and no matter how many political parties you have or socially responsible you are, either debt will rise, taxes will rise, or inflation will rise, and income inequality will rise. By the way, the US has several political parties.