People Mentioned
Calgary Managing Partner, Calgary
A jurisdictional fight between Alberta and the federal government over requirements to limit greenhouse gasses may cause more confusion and uncertainty for oil and gas businesses in the province and lead to a decrease in investment in the sector.
The Alberta government has announced its intention to invoke the Alberta Sovereignty within a United Canada Act against the federal draft regulations that would require businesses to limit greenhouse gas emissions by 35% below 2019 levels. Specifically, Alberta’s motion will declare the emissions data to be proprietary information owned by the province.
Speaking with the CBC News, Sander Duncanson, partner and Co-Chair of Osler’s Regulatory, Indigenous and Environmental practice, said it will be important for the province to share the exact details of its plan.
“I think this is really just going to push us towards constitutional litigation more quickly than we otherwise would get there,” he said. “Apart from the lawyers who will benefit from the additional courtroom drama, it’s certainly not helpful from the perspective of actually driving emissions reductions.”
Further uncertainty could also impact the future of the sector said Sander, “In the work that I do, working with companies that are looking at making these investments, that kind of regulatory uncertainty has a direct correlation to driving investment away.”
“Unfortunately, we’re just layering more and more uncertainty into the market right now,” Sander said.
Read the full article published on November 28, 2024, by Jim Brown and Joel Dryden on the CBC News website.
People Mentioned
Calgary Managing Partner, Calgary
