Canada’s oil industry at odds with Trudeau over new 2030 climate plans | Malay Mail

CALGARY, Alberta, March 31 — Canada’s first emissions reduction roadmap relies heavily on the oil and gas sector to help Ottawa reach its 2030 climate goal, but there is a still a big gap between what industry and government say are achievable cuts.

“Ambition is one thing, action is what’s required,” Suncor Energy SU.TOChief Executive Mark Little told a sustainability conference in Vancouver on Tuesday, adding industry needed to work with government to align climate targets. The Liberal government, which has had a strained relationship with the oil and gas industry since coming to power in 2015, is also developing an oil sands emissions cap as promised in the last election. Read full story“These are plans that are consistent with that objective that they have themselves laid out,” Trudeau told a press conference following the ERP release.

That is despite a surge in cashflows from rising crude prices as Russia’s invasion of Ukraine disrupts global oil supplies.

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European shares slip as US reserve release plan pressures oil stocks | Malay MailBERLIN, March 31 — European shares slipped in choppy trade today, widening a quarterly loss that would be the first in two years, as oil stocks slid on news that the United States was considering tapping into its oil reserves. The pan-European stock index was down 0.1 per cent, as of 0941 GMT,...
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