Title: High Cost Fuel Standard
Publisher: Canadian Energy Network
Date: October 2020
Full analysis here:
Summary:
In 2016, the Federal Liberal government set in motion the proposal for a “Clean Fuel Standard”, which in fact will be a High Cost Fuel Standard, with a stated goal to reduce fuel emissions intensity by 30 megatonnes per year by 2030. The standard covers all fossil fuels and will be rolled out in different phases starting with liquid fuels (gasoline, diesel). There are a wide host of implications that could come from the implementation of this high cost fuel standard. Many experts indicate that it will cause economic harm while doing little to help the environment. The draft regulations will be rolled out in early December 2020, and the program will begin in 2022.
The Canadian oil and gas industry is at the forefront of innovation and technology and has already set ambitious goals for “net-zero” and material reductions in emissions intensity. The most progressive way forward to reduce emissions intensity from fuels is to set a target, and let the industry use their innovation and know-how to get there.
