Petroleum producers want to hit global markets report

first_imgCALGARY (660 NEWS) – Canada’s petroleum producers are once again sounding the alarm over the challenges of reaching international oil and gas markets.The Canadian Association of Petroleum Producers (CAPP) says the biggest roadblocks it faces are getting oil products to global markets.President of CAPP, Tim McMillan explains some of the barriers oil companies still face.“The regulatory system is being recognized as inadequately slow and inefficient and Bill C-69 is full of challenges that makes that even harder. Globally, capital is going to jurisdictions that have competitive taxes and Canada continues to miss the boat on that one as well.”READ MORE: CAPP calls for feds for long-term answers to oil price differentialWhile Bill C-69 is still being opposed by oil and gas producers, McMillan points out that other factors such as Bill C-48 are just as damaging.“It is the moratorium on shipping off of Canada’s northwest coast and that bill just needs to be withdrawn. Then I raise Article 6 of the Paris Agreement that Canada can play a unique role globally in lowering greenhouse gas emissions if we can get that article into the rule book.”INFOGRAPHIC: How LNG could help Canada meet its Paris commitment: Canadian LNG would produce fewer emissions than other sources, helping lower global GHGs while potentially enabling Canada to surpass Paris commitment: #ParisAgreement #environment— CAPP Oil Gas Canada (@OilGasCanada) March 14, 2019Article 6 allows parties in the agreement on climate change to make it easier to achieve reduction targets, but also to raise ambition in future efforts by collaboration.McMillan believes it’s the government’s role to make sure that oil resources are protected and get where they need to be.“This is a time for action, this is a time for governments to get active and find an efficient way for our pipelines and LNG facilities to get approved and under construction.”last_img read more

Read More