Canada’s plan to hike oil exports will not compromise long-term climate goals, source says

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Canada, holder of the world’s third-largest oil reserves, is keen to help shore up long-term energy security as countries that previously relied on Russian oil and gas look for replacements

amid sanctions aimed at punishing Russia for its assault on Ukraine. But the government has no plans to compromise its climate goals.

Many producers, particularly in northern Alberta’s oil sands where new multibillion-dollar projects take years to build, are reluctant to increase spending to significantly boost output.In 2018, Liberal Prime Minister Justin Trudeau’s government bought the Trans Mountain oil pipeline to help producers struggling to get their crude to market.

“What the Ukraine crisis has done is increase the attention being given to energy security,” said George Hoberg, a professor of public policy at the University of British Columbia.

 

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globebusiness Source? The earth’s climate has no idea Canada has a climate plan.

Whistling as we walk to the death of billions...

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