On March 5, 2013, Environment Minister Peter Kent announced that environmental regulations for Canada's oil and gas sector are in their final stages of development. The new regulations are intended to reduce greenhouse gas emissions in the oil and gas industry. The intention to regulate greenhouse gas emissions was first announced by the Federal government in 2008 with the new regulations to take effect in 2010; however, the regulations were never finalized. According to the Environment Minister, the new regulations will seek to reduce greenhouse gas emission from the oil and gas industry in order to help meet a 2020 target for a 17 per cent reduction in overall emissions from 2005 levels. The new regulations for the oil and gas industry are in addition to recently implemented regulations for the transportation and coal-fired electricity sectors.
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