EDMONTON, AB: Wildrose Leader Brian Jean released the following statement on the 100 megatonne (Mt) cap on greenhouse gas emissions introduced in legislation by the NDP government:
“This cap is yet another step by the NDP government that will hamper investment and create uncertainty in Alberta’s oil and gas sector.
“According to research done by the Fraser Institute, this policy has the potential to constrain future oil sands production on the order of over $150 billion in lost value to Alberta.
“This also scares away any new players, because there is not enough room under this cap to even accommodate leases the government already sold.
“This arbitrary cap is deeply concerning and does not recognize the work that has been done by industry to innovate and reduce emissions, and the devil will be in the details of the regulations.
“To make matters worse, the panel tasked with the regulations, the Oil Sands Advisory Group, is co-chaired by someone who once referred to our oil sands as Mordor. Albertans deserve better.”