The global oil and gas industry will require $600 billion to achieve its target of cutting emissions this decade, which is only a fraction of the record windfall income that producers accrued in 2022, according to International Energy Agency.
Oil and gas operations account for nearly 15% of energy-related greenhouse gas emissions today and the industry has the ability and resources to cut them quickly and cost effectively
A cap on greenhouse gas emissions from Canada’s oil and gas sector will be ready by the end of next year, Environment Minister Steven Guilbeault said Monday.
As the world gears up to avoid a climate catastrophe by limiting global warming to 1.5 to 2 degrees Celsius, more countries are putting carbon pricing at the center of their mitigation strategies.