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Imperial Oil Ltd
Symbol IMO
Shares Issued 517,860,941
Close 2024-11-29 C$ 103.69
Market Cap C$ 53,697,000,972
Recent Sedar Documents

FP/CP say MEG, rivals still processing Smith's move

2024-11-29 07:53 ET - In the News

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

The Financial Post reports in its Friday, Nov. 29, edition that unnamed sources say the Alberta government did not consult the oil and gas sector before announcing plans to challenge the proposed federal greenhouse gas emissions cap. A Canadian Press dispatch to the Post reports that companies are still processing Premier Danielle Smith's announcement of a forthcoming motion under the province's Sovereignty Act, which aims to assert Alberta's ownership over its fossil fuel resources. Tristan Goodman of the Explorers and Producers Association of Canada says the unveiled details were surprising. He says, "We weren't broadly consulted." Mr. Goodman says the oil and gas sector as a whole remains deeply opposed to the emissions cap, and is happy the Alberta government is standing up for the province s No. 1 industry. The oil and gas industry argues that the proposed cap is unconstitutional and could significantly harm Alberta and the Canadian economy. The Business Council of Alberta calls the cap "the epitome of bad public policy." The Pathways Alliance, a consortium of Canada's six largest oil sands companies, said Wednesday it believes the federal emissions cap will actually deter companies from investing in emissions.

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