Canada Oil Industry Seeks Trudeau Support

Canada Oil Industry Seeks Trudeau Support
Canada's largest oil and natural gas lobbying group is calling for support from re-elected Prime Minister Justin Trudeau following an election campaign that featured vows to cut the industry's emissions.

(Bloomberg) -- Canada’s largest oil and natural gas lobbying group is calling for support from re-elected Prime Minister Justin Trudeau following an election campaign that featured vows to cut the industry’s emissions.

“This election result reaffirms the uncertainty in Canada as we continue to struggle with public health and economic issues related to the Covid pandemic,” Canadian Association of Petroleum Producers Chief Executive Officer Tim McMillan said in a Monday statement, adding that the industry is ready to continue to work with the federal government to rebuild the economy.

Trudeau’s platform included a promise to keep the industry on track for net-zero emissions by 2050, cut methane emissions by 75% from 2012 levels by 2030, eliminate fossil-fuel subsidies in two years and develop a plan to phase out public financing of the sector.

The industry is “a recognized leader” in environmental innovation and emissions reduction as well as a large employer and economic partner for indigenous communities, McMillan said. He called Canadian natural gas and oil “better sources of energy for the world” given Canada’s environmental and human-rights standards.

“Our ask of the federal government is to support Canadian prosperity by getting behind our country’s resources and to trust Canadians to protect the environment rather than relying on other nations to supply the world’s needs for natural gas and oil,” McMillan said.

© 2021 Bloomberg L.P.


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