Some of Canada’s top oil executives are ramping up their opposition to Prime Minister Justin Trudeau’s goal of cutting emissions from the energy sector by 42%…
Brad Corson, chief executive officer of Imperial Oil Ltd., told analysts Friday the target is “very aggressive” and “stretches the capability of what is technically and economically feasible.” Imperial is a Calgary-based integrated oil producer that’s controlled by ExxonMobil Corp.
Trudeau’s government issued the target in March and followed it with a discussion paper on a potential emissions cap on the energy sector. The latter could be implemented through a tougher carbon-price policy or a cap-and-trade system that allows higher-emitting companies to buy credits from lower-emitting ones.Article content
“We have a plan and we think it’s one of the few plans out there,” MEG Energy Corp. CEO Derek Evans told analysts. “It’s ambitious at 30%. I don’t know how we get to 42%. I think that personally, in my humble opinion, is almost unrealistic.”“Our emissions reduction plan looks at every sector and every region to help reduce our emissions, in a way that is affordable and creates new economic opportunities,” Environment Minister Steven Guilbeault said in an emailed statement.
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