Oil and gas is Canada's highest-polluting industry and its emissions continue to rise, undercutting progress in many other parts of the economy. Ottawa will likely fall short of its commitment to reduce emissions by 40-45% from 2005 levels by 2030 unless the oil and gas sector intensifies efforts to decarbonize.

Alberta Premier Danielle Smith and Canadian oil and gas producers came out swinging today in response to a new draft federal oil and gas emissions cap for oil and gas production that is unlikely to survive, should the Trudeau government be unseated by the Conservatives in the next federal election.

The Trudeau government has focused on the oil and gas production industries because the large amounts of energy they use make them the country’s largest source of greenhouse gases.

The cap on energy-sector emissions is a longstanding promise from Canada’s Liberal government. The Business Council of Canada said the cap would pose a headwind for an economy struggling to record growth.

The Government of Canada has announced draft regulations to cap greenhouse gas emissions from the oil and gas sector, aiming for a 35% reduction from 2019 levels by 2030. This move is part of Canada's broader strategy to combat climate change while ensuring the continued growth of the oil and gas industry.

In January-September of the current year, 4083.3 million manat funds were directed to the oil and gas sector, Azernews reports citing the State Statistics Committee.

Oil and gas producers in Canada will be required to cut greenhouse gas emissions by about one-third over the next eight years under new regulations published Monday. The government is also going to establish a cap-and-trade system that Environment Minister Steven Guilbeault said will reward lower-emitting producers and incentivize higher-polluting ones to do more.

Oil and gas producers in Canada will be required to reduce carbon emissions by 35% from 2019 levels over the next eight years under new regulations published Monday by Prime Minister Trudeau's government.