Emissions cap will make Canadians poorer and harm energy ties with the U.S.
At a time when Canada’s economy is stalling, imposing an oil and gas emissions cap will only make Canadians poorer. Strong climate action requires a strong economy. This cap will leave us with neither.
Today’s announcement ahead of the U.S. presidential election also sends the wrong signal to our most important trading partner that looks to Canada as a secure and reliable source of energy. A de facto cap on oil and gas production would restrict cross-border energy trade and harm our shared economic and security interests.
Finally, a cap on the energy sector will make Canada’s climate policy landscape even more incoherent and uncompetitive, which will leave the country with an expensive piecemeal approach to reducing emissions.
