Canadian climate alarmist policies have lost so much support that Oil Producers are betting they will be scrapped.
Two closely associated phenomena are happening in Canada right now: to begin with, Globalist poster boy and Liberal Prime Minister Justin Trudeau is sinking in the polls.
At the same time, the public support for Trudeau ‘flagship’ policies of a climate alarmist nature – such as the dreaded ‘Carbon Tax’ – tanked to such an extreme degree that companies and provincial governments are starting to fiercely fight back.
This being the case, it is not surprising when Reuters reports that “Some Canadian oil and gas producers say they will not rush to accelerate emissions cuts until they see if unpopular Prime Minister Justin Trudeau survives long enough to implement his proposed oil and gas emissions cap.”
New rules released this month demand oil companies in Canada ‘cut carbon emissions by up to 38% by 2030 from 2019 levels’.
Opposition Conservatives led by Pierre Poilievre oppose the cap. Since they hold a commanding lead over Trudeau’s Liberals before an expected 2025 election, plans for the cap will likely be abandoned.
“Some small- and medium-sized oil companies are openly asking if the Liberals losing in the 2025 election would avert the need to accelerate emissions cuts. Canada is the world’s fourth-biggest crude producer and the oil and gas industry is the country’s highest-polluting sector, accounting for more than a quarter of all emissions.”
Reuters heard that Yangarra Resources – producing 12,500 barrels of oil per day – will continue cutting emissions only insofar as it makes money and improves efficiency.
CEO Jim Evaskevich: “‘If we get to where we’re having to spend a lot of money to become way more draconian with our reductions, then we’re going to look at the federal election and go, ‘yeah no we’re not spending that money, no way.’ Because our fervent hope is (Trudeau) is gone’, Evaskevich said.”
The resistance from oil producers reflects the struggle between the Liberal government’s climate policies – some of which have been rejected by the courts – and a sector critically important to Canada’s economy.
Oil Price reported:
“’At a time when the country’s citizens are experiencing a substantial affordability crisis, coincident with record budget deficits, the federal government risks curtailing the energy Canadians rely on, along with jobs and government revenues the energy sector contributes to Canada’, the Canadian Association of Petroleum Producers (CAPP) said.
[…] Alberta Premier Danielle Smith and Environment and Protected Areas Minister Rebecca Schulz said in a joint statement: ‘With their pronouncement singling out the oil and gas sector alone for punitive federal treatment, Prime Minister Justin Trudeau and his eco-extremist Minister of the Environment and Climate Change Steven Guilbeault are risking hundreds of billions of dollars of investments in Alberta’s and Canada’s economies and core social programs, are devaluing the retirement investments of millions of Canadians, and are threatening the jobs of hundreds of thousands of Albertans’.”