Harper calls oil and gas regs ‘crazy economic policy’ in times of cheap oil

Prime Minister Stephen Harper has definitively slammed the door on regulating Canada's oil and gas sector, calling it a “crazy, crazy” economic policy under current global oil prices.

OTTAWA — Prime Minister Stephen Harper has definitively slammed the door on regulating Canada’s oil and gas sector, calling it a “crazy, crazy” economic policy under current global oil prices.

His comments in the House of Commons come as international talks are underway in Lima, Peru, in an effort to reach a new post-2020 global agreement on curbing greenhouse gas emissions.

Harper was emphatic that Canada will not move unilaterally to curb fast-rising emissions from Alberta’s oilsands.

The Conservative government has been promising to regulate the oil and gas sector since 2007 as part of its sector-by-sector approach to curbing emissions, an approach the government called a Made-in-Canada plan.

Harper was responding to questions about Canada’s poor record in meeting its previous Copenhagen emissions targets, which a government report this week showed are far off track.

The Environment Canada emissions report shows that increasing GHG emissions from the oil and gas sector – principally the oilsands – will almost completely offset major reductions in the electricity sector by the year 2020.