“According to most forecasters, oil and gas will continue to be a large component of the world’s energy mix in the next decades even in the most conservative estimations. … Canada’s federal government plans to cap the greenhouse gas emissions from the oil and gas industry—without creating a corresponding permit market—on top of its already poorly designed carbon tax. … Given the current context of rising energy prices, Canadian policymakers should consider the policy implications of aggressive climate policies that considerably limit the production of reliable and affordable energy.”

Originally published here at the Fraser Institute of Canada on 31 May 2022.