Calgary, Alberta (Feb 5, 2024)
The Canadian Association of Petroleum Producers does not support the draft framework and asks the Government of Canada to not proceed with an unnecessary proposed cap-and-trade emissions cap on the oil and natural gas sector. The approach the government has chosen will force production to be cut to reach compliance, negatively impacting the sector and the whole of Canada’s economy. Oil and natural gas is Canada’s largest export sector, the industry is one of the leading investors in emissions reducing technologies and a foundational part of the country’s economy. Oil and natural gas emissions peaked in 2015 while production has continued to grow. There are existing policies in place already delivering emissions reductions and the federal government should work with industry and the provinces on collaborative solutions that continue to drive down emissions and position Canada and our energy industry for long-term success and prosperity.
About CAPP
The Canadian Association of Petroleum Producers (CAPP) is a non-partisan, research-based industry association that advocates on behalf of our member companies, large and small, that explore for, develop, and produce oil and natural gas throughout Canada. Our associate members provide a wide range of services that support the upstream industry. CAPP’s members produce nearly three quarters of Canada’s annual oil and natural gas production and provide more than 400,000 direct and indirect jobs in nearly all regions of Canada. In 2022 across Canada, our industry contributed $111 billion to the Gross Domestic Product (GDP) in addition to paying $45 billion in taxes and royalty payments. CAPP is a solution-oriented partner and works with all levels of government to ensure a thriving Canadian oil and natural gas industry. We strive to meet the need for safe, reliable, affordable, and responsibly produced energy, for Canada and the world. We are proud to amplify industry efforts to reduce GHG emissions from oil and gas production and support Indigenous participation and prosperity.