Canada Could Lose $55 Billion in Oil Investment if Emissions Cap Is Implemented ...Middle East

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Canada Could Lose $55 Billion in Oil Investment if Emissions Cap Is Implemented
Canada’s oil and gas industry could lose US$55 billion (C$75 billion) in upstream investment by 2035 if the federal government implements a stringent 40% emissions cap from 2030, the Canadian Association of Petroleum Producer (CAPP) says, citing a report by S&P Global Commodity Insights it had commissioned. At the end of last year, Canada’s federal government introduced a draft framework to cap pollution from the oil and gas sector to reduce emissions. The plan proposes to cap 2030 emissions at 35% to 38% below 2019…

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