The Trudeau Liberals’ recent announcement the government plans to impose a federal cap on oil and gas emissions will result in thousands of industry layoffs.A draft text of regulations released on Wednesday confirms there will be widespread layoffs,” per Blacklock’s Reporter. The document contradicted claims by Natural Resources Minister Jonathan Wilkinson that “there will be thousands and thousands of jobs created.”“Reductions in projected production would be expected to affect income from the reduced demand for labour or any resulting lowering of wages or both,” said the cost-benefit analysis summary released by the Department of Environment.“The modeling done for this analysis indicates the proposed regulations are expected to result in a decrease in the oil and gas sector of about 1.6%.”.Feds refuse to disclose cost-benefit analysis on this week’s LNG cap.According to a Statistics Canada estimate, the oil and gas industry directly employs about 213,000 people. A 1.6% cut in employment is the equivalent of 3,400 layoffs.The environment department said it expected cuts would be offset by more hiring in other sectors.“It is important to note the impacts accounted for in this analysis do not account for other economic and environmental benefits of the proposed regulations,” said Brandon Clim, a department spokesperson.The jobs data contradict testimony Monday at the Commons Natural Resources Committee, where Wilkinson assured MPs the proposal was a job creator.“It is a cap that is actually intended to drive employment in oil and gas producing areas in this country,” testified Wilkinson.“There will be thousands and thousands of jobs created.”“The oil and gas emissions cap is part of a broad approach to addressing the climate issue in a manner that actually will create jobs and economic opportunity. No sector gets a pass if you actually believe the science of climate change is real.”.Liberals make unsubstantiated claim climate plan saved 60 million cars’ worth of emissions .The proposal would cap oil and gas emissions at 27% below anticipated 2026 levels. Direct costs would run to billions, said the 140-page draft regulations.“These costs are assumed to be borne by Canadians,” states the summary.“Over the time frame of this analysis, 2025 to 2032, the proposed regulations are expected to result in cumulative incremental greenhouse gas emission reductions of 3.4 million tonnes. The value of these reductions is estimated to be $4 billion in avoided climate change induced global damage.”“The proposed regulations are also estimated to have incremental impacts on the economy which are estimated to be $3.3 billion plus administrative costs to industry and the Government of Canada estimated to be $219 million. Thus the proposed regulations are estimated to have net benefits of $428 million.”.WATCH: ‘ECONOMIC VANDALISM’ — Tories call out Liberals for ‘punishing’ LNG targets.Environment Minister Steven Guilbeault told reporters Monday the regulations to be finalized in 2025 would make Canada a world leader.“Look around the world,” said Guilbeault.“No other major oil and gas producer is doing what we’re doing. The United States, the United Kingdom, Norway, the Gulf States – we are the only large oil and gas producer in the world to do this.”“This means no matter what happens to production, the pollution level will go down. Let me be clear, this was carefully designed.”
