CAPP Welcomes Canada-Alberta MOU Advancements with Caveats

The Canadian Association of Petroleum Producers (CAPP) welcomes the recent advancements in the Canada-Alberta Memorandum of Understanding (MOU) and Industrial Carbon Pricing Framework. CAPP President & CEO Lisa Baiton shares the priorities outlined by Prime Minister Carney and Premier Smith to grow oil and natural gas production, build new export infrastructure, protect competitiveness, and lower emissions.

The agreements announced to-date, including methane equivalency, proposed reforms to streamline major project reviews, and the long-term commitment to natural gas as part of the Clean Electricity Strategy, are seen as positive steps towards rebuilding investor confidence in Canada's energy industry.

Baiton notes that while the new industrial carbon tax plan improves on earlier versions, it still represents a unique cost to Canadian oil and natural gas producers. The CAPP President & CEO emphasizes the need to continue streamlining the regulatory and fiscal framework to entice companies to build new projects in Canada.