The Liberal government’s proposed regulations capping greenhouse gas emissions from the oil and gas sector could lead to the loss of 54,400 jobs and 0.39 percent off Canada’s GDP by 2032, according to a new Parliamentary Budget Office (PBO) report.
The regulations would establish a national cap-and-trade system for the sector, putting emissions at 27 percent below the reported emissions levels in 2026, with an ultimate goal of lowering the country’s greenhouse gas emissions to net-zero by 2050.
