The federal government must work co-operatively with industry as it looks to draft an emissions cap for the oil and gas sector, Alberta business leaders said Monday, or risk far-reaching consequences for the Canadian economy.

In an interview Monday, Grant Fagerheim, chief executive of Calgary-based oil company Whitecap Resources Inc., warned of the dangers posed by a federal government that he believes is setting ambitious climate targets that it doesn’t know how to achieve.

“Setting out virtue-signaling commitments with no real firm targets is dangerous, and it’s reckless because at the end of the day, this is about the things that we can’t live without – food, heat, clothing and transportation.”

At COP26, the UN climate conference in Scotland on Monday, Prime Minister Justin Trudeau formally committed to a cap on greenhouse gas emissions produced by Canada’s oil and gas industry…read more.