Oil and gas accounts for more than one\u002Dquarter of Canada\u0027s total emissions.
in the House of Commons on March 29, with sector-by-sector targets aimed at slashing overall emissions by 40 per cent below 2005 levels by 2030, on the path to net-zero emissions by 2050.
“Big Oil lobbyists have had their time on the field. Now, it’s over to the workers and engineers who will build solutions.” The emission cuts promised for the oil and gas sector would be driven by carbon pricing policies and incentives for carbon capture, utilization and storage technologies; as well as greater use of solvents in oil sands extraction, stringent methane regulations, fuel switching and electrification.
“They’re looking for items that are economic and that are tested, while they continue to explore the mid-term or the long-term applications of things like hydrogen, which has long-term potential but is difficult today to get moving on.” The plan announced Tuesday includes $9 billion in new spending, mostly to expand existing climate grants and loan programs, including another $1.7 billion for electric-vehicle rebates. More details on the new spending — including an investment tax credit for CCUS — is expected when the federal budget is tabled in April.One in five new personal vehicles sold in Canada will be zero emission by 2026.
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