"Canadian Oil & Gas Industry Faces Clash Over Emissions Cap"

Canadian Prime Minister Justin Trudeau's announcement of an emissions cap for the fossil fuel industry has sparked backlash from the Canadian oil and gas industry, with the Canadian Association of Petroleum Producers (CAPP) calling it a de facto production cap. The industry warns that the policy will lead to reduced output and higher energy prices for consumers. However, the government argues that all sectors, including oil and gas, need to reduce emissions to achieve net-zero by 2050. The proposed emissions cap includes a cap-and-trade system with flexibility options for emitters to meet targets. The Pembina Institute think tank supports the emissions cut policy, stating that it is a realistic target given the industry's technology solutions.