The chief executives of Canada’s largest oil companies argued against a federal emissions cap Thursday when they appeared before a fiery parliamentary committee to explain what the sector is doing to reduce its environmental footprint.president of gas distribution all appeared via videoconference.
Cenovus CEO Jon McKenzie and Brad Corson, CEO of Imperial, agreed that a cap isn’t needed for the oil and gas sector, because significant regulatory incentives are already in place. “Today’s hearing is another reminder that additional regulation is needed to make sure those promised investments and projects finally start to move forward,” Ms. Bouchard said. “This is not only about our climate targets. It’s about futureproofing the sector to compete in a low-carbon world.”
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