Ottawa released long-awaited details on the policy Thursday, saying the government would enforce a new ceiling on oil- and gas-related emissions through a cap-and-trade system. Under the rules, oil and gas producers will have to reduce collective emissions at least 20 to 23 per cent below 2019 levels by 2030. The government expects the regulations to come into force in 2025. (The Logic) 

Talking point: The proposed rules drew a range of reactions, with environmental groups lauding the effort and industry players warning the cap would needlessly restrict investment. Alberta Premier Danielle Smith said the proposal represents an “intentional attack by the federal government on the economy of Alberta” that “undermines the unity of our country.” The Canadian Association of Petroleum Producers, the energy sector’s biggest lobby group, said the regulations would lead to “significant curtailments” in production, and was “unnecessary” given that companies are already working towards curbing emissions through carbon sequestration technology and other means.