SINGAPORE (Reuters) – Canada will likely publish the final regulations of a plan to cap and cut greenhouse gases from the oil and gas sector, its largest and fastest-growing source of emissions, by mid-2024, its environment minister told Reuters on Thursday.
The Canadian government’s framework for eliminating inefficient fossil fuel subsidies released on Monday was expected to eliminate C$1 billion ($759.82 million) in annual subsidies, federal Environment Minister Steven Guilbeault told Reuters.
The framework would effectively stop federal support for local oil, gas and coal production, Guilbeault said in an interview on Thursday .
($1 = 1.3161 Canadian dollars)
(Reporting by Sudarshan Varadhan; Editing by Christina Fincher)
