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Imperial Oil Ltd
Symbol IMO
Shares Issued 523,402,540
Close 2024-11-11 C$ 102.69
Market Cap C$ 53,748,206,833
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Globe says MEG, rivals see Ottawa hesitate on emissions

2024-11-11 08:14 ET - In the News

See In the News (C-MEG) MEG Energy Corp

The Globe and Mail reports in its Monday edition that for the past two years, Canada has showcased its efforts to tackle methane emissions from oil and gas production at the United Nations climate conference. The Globe's guest columnists Amanda Bryant, Jon Goldstein and Thomas Green write that this year, however, Ottawa seems to be hesitating, possibly missing a big opportunity. In 2022, Environment Minister Steven Guilbeault announced a collaboration with U.S. climate envoy John Kerry on methane abatement. In 2023, Canada presented its draft federal methane regulations aiming for a leading 75-per-cent reduction by 2030 (from 2012 levels), aligning itself with new U.S. and EU regulations. This time around, at COP29, the guest columnists were hoping to see Canada's commitment driven home with the final published version of those regulations. So far, however, they seem to be held up somewhere in Ottawa's regulatory machinery. Human-caused methane emissions continue to rise globally. Studies like the Environmental Defense Fund's MethaneAIR program reveal that methane emissions from oil and gas production are significantly underestimated, highlighting the importance of using technology to accurately assess the issue.

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