"For too long, we have watched this federal government ignore the needs of Canadians while attacking our economy and our energy sector. The proposed emissions cap is not just bad policy, it's an economic wrecking ball aimed at the heart of Canada’s economy.
“Numerous reports have already pointed out the many ways that this cap will cost Canadians, including a production cut of at least one million barrels a day of oil and gas and up to 150,000 jobs lost from coast to coast. Despite this, the federal government released draft regulations in November that set us on a course for disaster.
“Alberta has submitted detailed analysis showing, once again, that the proposed federal oil and gas emission cap is in reality an ideological cap on oil and gas production. The 35 per cent cut to emissions by 2030 is not achievable or realistic, and families across Canada will pay the price. Global emissions will increase under this cap and here at home, parents will lose their jobs, businesses will close, costs will rise and government revenues that support schools, hospitals and critical services will be cut.
“Alberta’s oil and gas and resource industry is vital to securing energy security across North America. Trade of oil, natural gas, electricity and uranium reached a record total of $156 billion USD in 2023 and nearly all natural gas going into the U.S. comes from Canada. The proposed regulations would significantly harm this important trade relationship and threaten to make Canadian industry less competitive while further disrupting Canada’s trade balance with one of our largest trading partners.
“The federal government needs to listen to Canadian provinces, industry, workers, small businesses and families from coast to coast instead of creating a constitutional and economic crisis. This production cap violates Canada’s constitution and we are already preparing to take this fight to the courts if these regulations ever become law.”