this post was submitted on 28 May 2024
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This is the best summary I could come up with:
Its conclusions Monday were used to support the industry argument that legislating an emissions ceiling will inhibit investment and growth, even as opponents argued the report's methodology was flawed.
The study says that would translate to one million barrels of oil equivalent less of production per day by 2030 compared with current forecasts, and 51,000 fewer jobs by 2030 than under existing government policies.
"Declines in production forced on the industry by a stringent emissions cap will result in significant job losses for Canadians, severe impacts on the economy and our GDP, and have the potential to compromise Canada's energy security and prosperity," Baiton said.
Everything in it flows from false assumptions that make it so deeply flawed, it amounts to disinformation," said Oliver Anderson, spokesperson for Environment Minister Steven Guilbeault, in an email.
Clean energy think-tank The Pembina Institute said the CAPP report includes only conventional oil and gas drillers and leaves out oilsands production, which accounts for the vast majority of the industry's emissions profile.
Alberta Premier Danielle Smith also waded in Monday, issuing a joint statement with the province's environment and energy ministers in which she referred to the proposed cap as a "reckless gamble that will devastate Canadian families and do nothing to reduce global emissions."
The original article contains 730 words, the summary contains 210 words. Saved 71%. I'm a bot and I'm open source!