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Suncor Energy Inc
Symbol SU
Shares Issued 1,261,765,782
Close 2024-11-04 C$ 53.09
Market Cap C$ 66,987,145,366
Recent Sedar Documents

Globe says MEG, rivals see Alberta putting up its dukes

2024-11-05 07:48 ET - In the News

See In the News (C-MEG) MEG Energy Corp

The Globe and Mail reports in its Tuesday, Nov. 5, edition that Alberta is set to oppose federal draft regulations that aim to cap greenhouse gas emissions from the oil and gas sector at 35 per cent below 2019 levels. The Globe's Emma Graney writes that these proposed rules, seen as the lower end of expectations, have faced criticism from both environmental groups, which call for stricter targets, and the oil and gas industry, which is against such policies altogether. This reaction highlights the divide between the fossil fuel sector and the federal government, with the latter insisting that firm targets are necessary for emissions reduction. The rules would implement a cap-and-trade system, allocating emissions "allowances" to covered facilities. Operators must remit one allowance per tonne of carbon pollution to the government each year, with the number of allowances decreasing as emissions caps tighten over time. Alberta Premier Danielle Smith criticized the cap, stating it is impossible to meet the 35-per-cent reduction target without cutting production. However, federal Energy Minister Jonathan Wilkinson disagreed, saying the proposed rules are technically feasible by 2030.

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