Canadian Fuels Association

The financial support Canada is offering for the clean energy transition is competitive with the Inflation Reduction Act (IRA) south of the border, a new report from TD Economics says.

Canada's new emissions standards for gasoline and diesel will allow oil companies that get a federal tax break for installing carbon capture and storage systems to also generate credits based on those systems, which they can then sell to refineries and fuel importers.

The average Canadian refinery produced less oil while emitting substantially higher rates of sulphur dioxide, carbon monoxide and nitrogen oxides compared with the U.S. average in 2014, the data shows from a joint investigation by National Observer, Global News and The Toronto Star.

Economic damage will extend far beyond the fuel budgets of British Columbia residents if Alberta successfully enacts a bill allowing it to restrict oil and gas exports, observers say.