TPT September 2014

Global Marketplace

Canada’s reluctance to introduce energy emission rules might be undermining the chances of TransCanada Corp for winning approval of its politically charged Keystone XL project,” wrote Mr Vieira. (“Canada Ready to Work with US on Environmental Rules for Oil and Gas,” 2 June) The pipeline, which envisages carrying heavy crude oil from the landlocked Canadian province of Alberta to the US Gulf Coast, has been mired in controversy for years. The decision on whether to give Keystone the green light rests with Mr Obama, who – to this point, at least – has seemed inclined to let a decision in the matter await his successor in the Oval Office.

Oil and gas With the Keystone Pipeline for context, Canada sees its way to an early embrace of stringent new US rules on carbon emissions In the US, 70% of all electricity comes from burning fossil fuels such as coal and natural gas. The Environmental Protection Agency estimates that electricity production accounts for nearly

a third of greenhouse gas emitted – the largest US source. Now, new EPA rules issued in early June will compel domestic power plants to cut carbon dioxide emissions 30% from 2005 levels by 2030. The move, which makes a start on fulfilment of President Barack Obama’s promise to make climate change a priority during his second term, put the Conservative government of Prime Minister Stephen Harper of Canada on the spot. In 2008 Ottawa said that it would introduce measures for curbing carbon emissions. But, as Mr Harper promoted the development of Canadian natural resources, particularly energy, in an effort to drive economic growth, no action was taken. Within a day of the EPA announcement, however, Ottawa had hailed the initiative. Leona Aglukkaq, the Canadian minister for the environment, said the new US measures mean there will be pan-continental regulations for the coal-fired sector. She went further, declaring that the Canadian government also looks forward to working in concert with the US on stricter carbon emissions caps for the oil and gas sector. The lobby for Canada’s energy producing companies, the Canadian Association of Petroleum Producers, quickly asserted that any unilateral move by Canadian policy makers to impose rules on the sector would put it at a competitive disadvantage to its US peers. But Paul Vieira of the Wall Street Journal ’s Ottawa bureau pointed out a possibly overlooked benefit of the new cooperative spirit. › “Analysts at Pembina and other think tanks have suggested that

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