SUBMISSION: Proposed Oil and Gas Cap Discussion Paper

The Business Council of British Columbia appreciates the opportunity to provide input to the proposed oil and gas cap discussion paper: Options to Cap and Cut Oil and Gas Sector Greenhouse Gas Emissions to Achieve 2030 Goals and Net Zero by 2050s.

It is important to know and convey that our members are keenly aware of federal government policymakers’ aspirations to make progress on reducing greenhouse gas (GHG) emissions. We also share a future vision of a more secure, efficient, and cleaner energy system for Canada and the world. To this end, oil and gas are and will for decades remain key strategic resources. Canada has a critical global role to play in the ongoing energy system evolution, a role we cannot fulfill if we shutter the country’s number one export sector. In this spirit, and through substantive action, the Canadian oil and gas industry is trying to do the right thing, evident in the public commitments made by numerous oil and gas companies and through the voices of industry associations to work towards net zero by 2050. Underpinning this is a focus on reasonableness, cost effectiveness, achievability within the bounds of technology, increased investments in innovation, and collaboration with governments.