Can Canada cut emissions without gutting the oil and gas industry? There is no other option
The federal government is ramping up one of its more ambitious – and contentious – efforts to curb Canada’s contribution to global warming: the introduction of new caps on greenhouse gas emissions from the oil and gas sector.
It’s tempting to say that the government should simply tell the oil patch that it has no choice but to do whatever it takes to contribute to meeting Canada’s target of a 40 per cent reduction in total GHG emissions from 2005 levels by 2030. As such, if the industry’s emissions are capped at a level consistent with the national 2030 goal, then significantly reducing production would likely be the only way to meet the targets. That presents a three-headed problem. First, artificially lowering Canadian oil and gas production would impose heavy economic costs on Canada. Second, it might yield few environmental benefits, merely sending customers to other countries – because as long as there is demand, others will provide the supply.
Ottawa has to tune out the most radical voices from both sides of this debate and make a reasonable, fact-based determination about how much of an emissions reduction the industry realistically can be asked to achieve.
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