Freeze carbon tax, delay new climate regs during virus crisis, oil lobby asks
OTTAWA — Canada’s oil and gas producers are asking the federal government to freeze the carbon tax, postpone environment reporting requirements, and delay new climate change regulations while the industry weathers the storm of COVID-19.
The Canadian Association of Petroleum Producers says in a letter to Natural Resources Minister Seamus O’Regan that Canada’s energy sector is facing an unprecedented fiscal assault from a global collapse in oil prices.
Western Canada’s heavy crude is selling for under $5 a barrel this week, less than a tenth of the price it garnered a year ago.
CEO Tim McMillan says the sector wants to be able to survive the immediate crisis so it can keep pumping out products Canadians need, and then also be part of the economic recovery.