The Globe and Mail reports in its Tuesday edition that the federal government's proposed emissions cap has sparked strong reactions from both oil and gas supporters, and environmental groups. A Canadian Press dispatch to The Globe reports that a new report commissioned by the Canadian Association of Petroleum Producers and conducted by S&P Global Commodity Insights examines the potential impact of emissions-reducing policies on Canada's conventional oil and gas producers. The report's conclusions suggest that implementing an emissions ceiling could hinder investment and growth in the industry, leading to an estimated $75-billion less in capital investment over the next nine years compared with current policy conditions if oil and gas drillers are required to reduce greenhouse-gas emissions by 40 per cent by 2030. Opponents of the report argue that its methodology is flawed. The study says that would translate to one million barrels of oil equivalent less of production per day by 2030 compared with current forecasts, and 51,000 fewer jobs by 2030 than under existing government policies. On Monday, CAPP president Lisa Baiton said the new report is proof that a federally mandated emissions cap "should not proceed."
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