Climate disaster survivors urge emissions cap that energy CEOs call unnecessary

The CEOs and executives of some of Canada’s largest oil and gas companies defended their industry Thursday, the same day a group of Canadians personally affected by climate change called on the federal government to implement its proposed cap on emissions from the oil and gas sector.

CEOs and senior executives from Cenovus Energy Inc., Enbridge Inc., Imperial Oil Ltd., Shell Canada Ltd. and Suncor Energy Inc. appeared by videoconference Thursday afternoon before the House of Commons standing committee on environment and sustainable development.

The executives said while they oppose an emissions cap on their sector, they do support carbon pricing as a tool to reduce their industry’s environmental impact.

“My view is the (proposed) emissions cap is unnecessary regulation,” said Suncor CEO Rich Kruger.

“I do support a coordinated price of carbon across the economy, because I believe that will drive the innovation and the economic incentives on all of our parts to continue to improve our business.”

“A carbon tax can work to reduce emissions, but it has to be universally and ubiquitously applied, and it can’t target one particular industry or one particular segment of the economy,” said Cenovus CEO Jon McKenzie.

The CEOs’ appearance was the result of an April motion by NDP environment critic Laurel Collins, who called on the executives to explain what their companies are doing to address climate change.

One after another Thursday, the executives spoke of their goal to reduce emissions while also increasing Canada’s oil output in the years to come.

“Every credible study shows that we will continue to need all forms of energy, including oil, to help meet the world’s growing energy demand,” said McKenzie.

“That oil will be produced