Oil Price.com Canada To Ditch Oil and Gas Emissions Cap- In favour of carbon capture– Big Oil companies are fond of carbon capture- Enhanced Oil Recovery- As previously mentioned!
The new government’s Climate Competitiveness Strategy, outlined in Budget 2025, will prioritize effective carbon markets, enhanced methane regulations, and technologies such as carbon capture and storage as the primary means to reduce oil and gas emissions.Canada’s federal government is signaling it plans to scrap the previous cabinet’s controversial emissions cap plan, which had put former PM Justin Trudeau on a collision course with the provincial government of oil-producing Alberta.
Now Mark Carney’s new federal government has introduced an update on the Oil and Gas Emissions Cap in the just-unveiled budget 2025 plan, saying that it would prioritize the creation of effective carbon markets.
The new government’s Climate Competitiveness Strategy in Budget 2025 acknowledges the need to reduce emissions from the oil and gas sector to ensure Canada has access to markets that prioritize sustainability.
Carney’s climate strategy is “based on driving investment, not on prohibitions, and on results, not objectives,” the plan says.
“Effective carbon markets, enhanced oil and gas methane regulations, and the deployment at scale of technologies such as carbon capture and storage would create the circumstances whereby the oil and gas emissions cap would no longer be required as it would have marginal value in reducing emissions,” according to the budget plan.
Appeal to stop ostrich cull dismissed by Canada’s top court
The people that ran the ostrich farm misrepresented what was actually going on there. I’ve questioned it from day one. And still to this day. The farm was a research facility.
CFIA says the farm has not provided any documentation outlining the research it claims to carry out. It also says the farm lacks facilities “suitable for controlled research activity or trials.”
Canada commits to critical mineral mining
Canada’s 2025 federal budget commits billions to expanding the mining sector even as the government projects a 78.3 billion Canadian dollar ($55.3 billion) deficit for the fiscal year ending March 31. The plan includes major funding and tax incentives aimed at positioning the country as a leading global supplier of critical minerals.
The budget allocates 2 billion Canadian dollars ($1.42 billion) over five years to establish a sovereign fund for critical minerals under Natural Resources Canada. The fund will take equity stakes in mining companies, provide loan guarantees, and sign offtake agreements.
“These measures send a powerful signal to global investors and allies that Canada is serious about improving the competitiveness of its mining industry,” Mining Association of Canada President Pierre Gratton said in a statement.
BoC and interest rates- Rate cut pause
Macklem warned that the current slowdown is “more than a cyclical downturn.” He described it as a “structural transition”, arguing that U.S. trade actions have permanently reduced Canada’s productive capacity. The damage from tariffs, he said, has lowered potential growth and limited the central bank’s ability to stimulate demand without reigniting inflation.
“Monetary policy can help the economy adjust as long as inflation is well-controlled,” Macklem emphasized, “but it cannot restore the economy to its pre-tariff path.”
Looking ahead, Macklem suggested that the current policy rate is now “about the right level” to balance inflation control with economic support. The message signals a likely pause in further easing, barring new shocks.
CBC Defence Budget increase in spending
The Liberal government has set aside an additional $81.8 billion over five years to rearm the Canadian military, but the new federal budget offers only a vague, big-picture view on how the money will be spent over five years.
It also does not spell out in precise detail the politically important pathway to meeting NATO’s defence spending target of five per cent of the gross domestic product.
There is more money for recruiting, training, new equipment, defence infrastructure and beefing up cyber defence capabilities in the fiscal plan, tabled in the House of Commons on Tuesday.
An additional $2.7 billion — over and above the modernization cash — has been set aside to support ongoing military operations in Latvia and the Middle East.
Budget 2025 represents the largest defence investment in decades,” Finance Minister François-Philippe Champagne said in his budget speech.“We will meet our NATO two per cent commitment this year, modernize NORAD, reinforce our Arctic defences and equip the brave women and men of the Canadian Armed Forces with the infrastructure and technology they need to safeguard our nation.”