Emissions Cap Not Possible Without Oil, Gas Production Cuts: Deloitte

Emissions Cap Not Possible Without Oil, Gas Production Cuts: Deloitte
Pumpjacks draw out oil and gas from wellheads near Calgary on April 28, 2023. The Canadian Press/Jeff McIntosh
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Canadian oil and gas companies facing a federally imposed emissions cap will decide to cut their production rather than invest in too-expensive carbon capture and storage technology, a new report by Deloitte says.

The Alberta government-commissioned report—a copy of which was obtained by The Canadian Press—aims to assess the economic impact of the proposed cap.