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Oilpatch expecting new emissions targets before conference

GEOFFREY MORGAN

CALGARY — The Canadian oilpatch expects a freshly reelected federal government will move ahead with new emissions targets in a matter of months as Ottawa prepares for a major climate-change conference in November.

“We don’t want to be sitting back and having things happen to us,” said Brian Schmidt, president and CEO of Tamarack Valley Energy Ltd., adding the industry plans to reach out to officials in Ottawa on expected policies such as methane reduction targets. “How do we work together on what kind of commitments we’re going to make in November?”

After Monday’s federal election returned the Liberals to a minority government, oil and gas executives and policy analysts said they believe new greenhouse gas targets are likely to be enacted to coincide with the 26th Conference of the Parties (COP26) global climate summit in Glasgow, U.K., in November.

Companies are now rereading the Liberal platform — which included increasing methane emission reductions targets from 45 per cent to 75 per cent and new interim CO2 emissions targets by 2025 — to understand what’s coming, in an effort to engage with Ottawa.

Schmidt said the oil and gas industry had a productive relationship with Natural Resources Minister Seamus O’regan, and expects to work “collaboratively” again since “oil and gas was not a central part of any party’s platform.”

“I suspect that if we get the right players in the right ministries, they will see us as collaboratively working with them to move the industry in the right direction here, including emissions reductions and investment,” he said.

In years past, Canadian federal and provincial governments have announced emissions reduction policies immediately ahead of major conferences in an effort to draw accolades during the summits — and the same approach is expected before planes depart for Scotland.

“If we’re going to see larger changes or new flags being pointed, it’s likely to be around November, when COP26 takes place,” said Marla Orenstein, director of the natural resources sector at the Canada West Foundation.

OBITUARIES / BUSINESS

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2021-09-23T07:00:00.0000000Z

2021-09-23T07:00:00.0000000Z

https://saltwire.pressreader.com/article/281840056812106

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